EQS-News

123fahrschule SE announces the approval of the securities information sheet and further details on the implementation of the capital increase resolved by the Management Board with the a

EQS-News: 123fahrschule SE / Key word(s): Capital Increase 123fahrschule SE announces the approval of the securities information sheet and further details on the implementation of the capital increase resolved by the Management Board with the a 31.05.2023 / 21:00 CET/CEST The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS RELEASE.

 

Corporate News

 

123fahrschule announces the approval of the securities information sheet and further details on the implementation of the capital increase resolved by the Management Board with the approval of the Supervisory Board on 26 May 2023.

 

 

31 May 2023, Cologne/Frankfurt am Main SE: Following the approval of the publication of the Securities Information Sheet (WIB) of 123fahrschule SE (ISIN: DE000A2P4HL9, the "Company") granted by BaFin on 31 May 2023 and the planned publication of the subscription offer expected on 1 June 2023 in the Federal Gazette (Bundesanzeiger), the subscription period of the subscription offer to the shareholders of 123fahrschule will begin one day later than originally planned, i.e. on 2 June 2023. The last day of the subscription period will now be 16 June 2023 (12:00 noon CEST). Up to 310,375 new shares shall be offered at a subscription price of EUR 7.00 per new share. The WIB can now be inspected on the IR website of 123fahrschule SE (unternehmen.123fahrschule.de).

 

The Management Board assumes that major existing shareholders will at least partially exercise their subscription rights.

 

The capital increase resolved by the Executive Board and Supervisory Board on 26 May 2023 comes at a very important stage for 123fahrschule SE. After the strong growth in recent quarters and the significant improvement in EBITDA since the beginning of 2023, the company is facing another important stage of development. Assuming that all shares are subscribed or placed, the company would have the opportunity with the funds raised in the capital increase to finally reach a revenue and earnings level that generates a sustainable positive cash flow. This level is aimed to be achieved in particular through further expansion with regard to the expansion of online instruction in theoretical driver's license training as well as through growth in the existing driving school locations of 123fahrschule.