EQS-Adhoc
Your Family Entertainment AG: Premature termination of the capital increase; new capital increase planned
- Premature termination of capital increase announced.
- New capital increase planned, focused on Ascent Capital.
- Funds to boost AI, digital platforms, and M&A efforts.
EQS-Ad-hoc: Your Family Entertainment AG / Key word(s): Capital Increase Premature termination of the capital increase; new capital increase planned |
Munich, November 29, 2024
The Management Board of Your Family Entertainment AG announces that an investor, Ascent Capital, LLC, has been found as part of the planned capital increase of up to 10% of the company's share
capital, excluding shareholders' subscription rights (see ad hoc announcement of February 1, 2024). Ascent Capital, LLC has agreed to fully subscribe to new shares in Your Family Entertainment AG
in this amount through its company Spirit of the Game, a Series of Ascent Productions LP.
The implementation of this initially planned capital increase was limited to November 30, 2024 at the latest. However, for technical reasons, the new investor cannot meet this date. The Management Board has therefore decided today to end the current capital increase early today without subscriptions. At the same time, the Management Board plans, subject to the approval of the Supervisory Board, to carry out a new capital increase in the same amount, excluding the shareholders' subscription rights and again partially utilizing the Authorized Capital 2022 created by resolution of the Company's Annual General Meeting on June 28, 2022, in order to enable only Ascent Capital or its company Spirit of the Game, a Series of Ascent Productions LP to enter the company. This new planned capital increase is to be implemented within the next four months.
The funds raised from this new capital measure are to be used to promote innovations in the areas of artificial intelligence (AI), the expansion of digital platforms (streaming/video-on-demand) and
for possible M&A transactions. This is in line with the Company's strategic direction of further expanding its position as a leading company in the field of children's and family
entertainment.
Your Family Entertainment AG
The Management Board
Company providing the information:
Your Family Entertainment Aktiengesellschaft, Tuerkenstraße 87, 80799 Munich
ISIN DE000A161N14, Frankfurt Stock Exchange
Contact / person providing the information:
Michael Huber (CFO/Authorized Representative)
Tel.: +49 (0)89 / 99 72 71-0
Fax: +49 (0)89 / 99 72 71-91
E-mail: michael.huber@yfe.tv
www.yfe.tv
End of Inside Information
29-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
Language: | English |
Company: | Your Family Entertainment AG |
Türkenstraße 87 | |
80799 München | |
Germany | |
Phone: | +49 (0)89 997 271-0 |
Fax: | +49 (0)89 997 271-91 |
E-mail: | ir@yfe.tv |
Internet: | www.yfe.tv |
ISIN: | DE000A161N14 |
WKN: | A161N1 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich (m:access), Stuttgart |
EQS News ID: | 2041443 |
End of Announcement | EQS News Service |
|
2041443 29-Nov-2024 CET/CEST