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STS Group AG
Earnings Release • Aug 7, 2020
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Earnings Release
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News Details
Ad-hoc | 7 August 2020 19:32
STS Group AG sells Acoustics business segment – Notification of loss according to § 92 para. 1 AktG
STS Group AG / Key word(s): Miscellaneous
STS Group AG sells Acoustics business segment – Notification of loss according to § 92 para. 1 AktG
07-Aug-2020 / 19:32 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
STS Group AG sells Acoustics business segment – Notification of loss according to § 92 para. 1 AktG
Hallbergmoos/Munich , August 7, 2020. STS Group AG (ISIN: DE000A1TNU68), listed in the Prime Standard of the Frankfurt Stock Exchange, has today signed an agreement with a strategic buyer for the complete sale of its Acoustics segment. The sale will be made at a negative purchase price. The closing of the transaction is subject to approval by the competent antitrust authorities and other closing conditions. The sale is expected to take place in the third quarter of 2020. The Management Board of STS Group AG has decided to take this step in order to stay focused on the core business of the STS Group in the Plastics segment in Europe, China and Mexico. The Management Board will inform the capital market about further progress in a timely manner.
On the basis of the conclusion of a sales agreement, the Management Board determined at its best judgment that the Company is likely to incur a loss of more than half of its share capital. The main reasons for the loss of more than half of the share capital are the negative purchase price and the waiver of receivables of STS Group AG from the sold companies. This results in STS Group AG’s equity capital being well below 3 mEUR.
For this reason, the Management Board will immediately convene an Extraordinary General Meeting and report the loss of more than half of the share capital in accordance with the section 92 (1) AktG. At this meeting, the Management Board will explain the position of the Company to the shareholders.
STS Group AG
Stefan Hummel
Head of Investor Relations
Zeppelinstrasse 4
85399 Hallbergmoos
+49 (0) 811 124494 12
07-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | STS Group AG |
| Zeppelinstraße 4 | |
| 85399 Hallbergmoos | |
| Germany | |
| Phone: | +49 (0)811 124494 0 |
| E-mail: | [email protected] |
| Internet: | https://sts.group |
| ISIN: | DE000A1TNU68 |
| WKN: | A1TNU6 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1113523 |
| End of Announcement | DGAP News Service |