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CAP - UET United Electronic Technology AG fully integrates operating companies via Capital Increase and reduces liabilities.

Company: UET United Electronic Technology AG Date: 2016-09-19 Language: English Register to download

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 News Details

Ad-hoc | 19 September 2016 13:00

#   

UET United Electronic Technology AG fully integrates operating companies via Capital Increase and reduces liabilities.

**UET United Electronic Technology AG  / Key word(s): Capital Increase/Miscellaneous**

19.09.2016 13:00

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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  - Capital Increase of 3.0 mn EUR against contributions in kind

  - Reduction of liabilities by 7.0 mn EUR

Today, UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn,
announces that it has signed an agreement to simplify and strengthen the
holding structure and equity as well as the reduction of liabilities with
the existing shareholders and minority shareholders.

Palace Park Ltd., the existing shareholder of UET AG and minority
shareholder of UET Electronic Holding GmbH, where it holds a 49 % stake,
subscribed a capital increase of 3.0 mn EUR through a contribution in kind.
Palace Park Ltd. will transfer their shares held in UET Electronic Holding
GmbH, which is part of the UET group, to UET AG in exchange of newly issued
shares. Consequently, the UET AG becomes the sole shareholder of the UET
Electronic Holding GmbH and thus indirectly also the sole shareholder of
ELCON Systemtechnik, NewTal Elektronik + Systeme, SUCONI Service and Letron
Electronic.

In order to reduce corporate liabilities, the UET Group buys back the
shareholder loans from the existing shareholders Palace Park Ltd. and
FIGLIO Beteiligungsverwaltung, including all accrued and unpaid interests,
in total 7.0 mn EUR for a purchase price of 1.0 EUR each. The transaction
will be performed by a UET Group subsidiary. The liabilities within the
group thereby will be reduced by 7.0 mn EUR.

This transaction significantly strengthens and simplifies the structure of
the UET group.

In a further step, the operating companies ALBIS Technologies and ELCON
Systemtechnik can now be better integrated operationally enabling further
synergies.

As a next step, it is planned to raise additional new capital. The actual
transaction supports, enables and contributes as a necessary preparation
measure.

The capital increase through contribution in kind will use the existing
authorized capital. The closing of the capital increase is scheduled for
the fourth quarter of 2016.


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: investor@uet-group.com




Contact:
UET United Electronic Technology AG
Phone: +49 6196 7777550
Fax: +49 6196 7777559
eMail: investor@uet-group.com


19.09.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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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:       investor@uet-group.com
Internet:     www.uet-group.com
ISIN:         DE000A0LBKW6
WKN:          A0LBKW
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart;
              Open Market (Entry Standard) in Frankfurt
 
End of Announcement                             DGAP News-Service
 
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