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SGT German Private Equity GmbH & Co. KGaA
Major Shareholding Notification • Jun 14, 2017
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Major Shareholding Notification
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News Details
Ad-hoc | 14 June 2017 18:42
German Startups Group sells stakeholding and realises capital gains amounting to roughly 10% of its market capitalisation
German Startups Group Berlin GmbH & Co. KGaA / Key word(s): Disposal
14-Jun-2017 / 18:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
+++ Ad hoc announcement +++
German Startups Group sells stakeholding and realises capital gains amounting to roughly 10% of its market capitalisation
Berlin, 14 June 2017 – German Startups Group realises, on the suspending condition of administrative approval, proceeds of 3.3 million euros through the sale of its stake in a holding of particular significance to the company and thus a multiple of the capital invested of 11x as well as an internal rate of return (IRR) of approximately 200% p.a. German Startups Group thereby realises capital gains versus book value of approximately 2.4 million euros or 0.20 euros per share (IFRS). A positive earnings effect and an increase in the net asset value (NAV) per share occurs to almost the same extent.
Investor relations contact
Theo Bonick
Tel: +49 30 6098890 80
Mail: [email protected]
Information and Explanation of the Issuer to this News:
The sale of the shares provides for a continued very positive development of the year after the announced sales of stakes and value gains in 2017. This is already the third major successful sale that earns a multiple on the capital invested after the exits of the mobile AdTech company Fyber in 2014 and the e-commerce startup Amorelie in 2015. For the remainder of the year, German Startups Group additionally expects sales proceeds, among others from the announced IPOs of Delivery Hero and ayondo.
Christoph Gerlinger, CEO of German Startups Group, comments, ‘We are very happy about our great success with the stakeholding that has now been sold. The founder team has done a great job. In our view, the upside potential in our portfolio continue to clearly exceed the risks.’
14-Jun-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | German Startups Group Berlin GmbH & Co. KGaA |
| Platz der Luftbrücke 4-6 | |
| 12101 Berlin | |
| Germany | |
| Phone: | +49.30.6098890.80 |
| Fax: | +49.30.6098890.89 |
| E-mail: | [email protected] |
| Internet: | www.german-startups.com |
| ISIN: | DE000A1MMEV4 |
| WKN: | A1MMEV |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Open Market (Scale) in Frankfurt |
| End of Announcement | DGAP News Service |