EQS-Adhoc

USU Software AG Announces Provisional Figures for 2023, Expansion of Product Business, and Delisting Plans

EQS-Ad-hoc: USU Software AG / Key word(s): Preliminary Results/Delisting USU Software AG Announces Provisional Figures for 2023, Expansion of Product Business, and Delisting Plans 12-March-2024 / 18:21 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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USU Software AG has confirmed its annual forecast and generated sales of EUR 132 million and adjusted EBITDA of EUR 13.3 million in 2023. This upturn was driven primarily by software-as-a-service (SaaS) solutions, which picked up by 20% to EUR 17.0 million (2021: EUR 14.2 million). To accelerate this good performance and better harness market opportunities, the company’s plans are as follows:

The Management Board of USU Software, with the approval of the Supervisory Board, plans to delist the shares of USU Software AG. In the opinion of the Executive Board, the admission or inclusion of USU shares on a stock exchange offered just few advantages in the past from a strategic and financial perspective, so that the considerable costs associated with increasing regulation no longer appear to justify a stock exchange listing. Considering the overall circumstances, delisting is in the interests of the company.
In accordance with section 39 of the Börsengesetz (BörsG, German Stock Exchange Act), delisting requires an offer to acquire all USU Shares. The Company’s Management Board has asked its majority shareholder AUSUM GmbH (AUSUM) whether it would be prepared to make this delisting offer. AUSUM informed the Management Board today, that an AUSUM subsidiary is currently seeking an agreement to finance such a delisting offer and is at an advanced stage of negotiations. Furthermore, AUSUM has informed the Management Board that the consideration payable per USU share is expected to be approximately equivalent to the statutory minimum price under applicable regulations.