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UET United Electronic Technology AG
Share Issue/Capital Change • Jun 25, 2018
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Share Issue/Capital Change
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News Details
Ad-hoc | 25 June 2018 13:35
UET United Electronic Technology AG approves Capital Increase and completely takes over existing operating companies
UET United Electronic Technology AG / Key word(s): Capital Increase/Miscellaneous
UET United Electronic Technology AG approves Capital Increase and completely takes over existing operating companies
25-Jun-2018 / 13:35 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.
- Nominal Capital Increase of EUR 3.0 million
- Takeover of existing operating companies through Contribution in Kind
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, reports that the board has decided and approved a Share Capital Increase of the Nominal Capital of EUR 3.0 million by issuing 3.0 million new shares of EUR 1.00 each.
Together with a transaction agreement concluded today Palace Park Ltd. will underwrite this Capital Increase through a Contribution in Kind of their existing 49 % Share of UET Electronic Holding GmbH. The UET AG takes over this 49 % share and is now the sole and only owner.
With this Capital Increase the new Nominal Capital of UET AG amounts to EUR 12.5 million. With this transaction UET AG now holds 100 % of all operating companies within the UET Group, operating the Business Areas SYSTEMS, SERVICE and ENGINEERING.
This transaction is the final closing step of the Existing Frame Agreement announced in September 2016 to improve the capital structure of the UET Group.
The Capital Increase is drawn from the existing approval share capital of the company.
With this and the recently performed measures the UET Group now has a substantially improved equity capital structure. In addition there are no minority stakes of third party investors within the UET group, which leads to an increase of results and earnings per share for the existing shareholders.
Contact:
UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn
Sebastian Schubert
Investor relations
Tel: + 49 (0) 6196 777755-0
E-Mail: [email protected]
25-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | UET United Electronic Technology AG |
| Frankfurter Straße 80-82 | |
| 65760 Eschborn | |
| Germany | |
| Phone: | +49 (0)6196-7777550 |
| Fax: | +49 (0)6196-7777559 |
| E-mail: | [email protected] |
| Internet: | www.uet-group.com |
| ISIN: | DE000A0LBKW6 |
| WKN: | A0LBKW |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart |
| End of Announcement | DGAP News Service |