24.08.2018
German Startups Group GmbH & Co. KGaA DE000A1MMEV4
DGAP-Adhoc: German Startups Group GmbH & Co. KGaA: German Startups Group plans further buybacks of own share
DGAP-Ad-hoc: German Startups Group GmbH & Co. KGaA / Key word(s): Letter of
Intent/Share Buyback
German Startups Group GmbH & Co. KGaA: German Startups Group plans further
buybacks of own share
24-Aug-2018 / 11:21 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.
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+++ Ad-hoc announcement +++
German Startups Group plans further buybacks of own share
The legally permitted volume shall be fully exercised
Berlin, 24 August 2018 - German Startups Group, a leading venture capital
provider in Germany and Berlin-based digital agency with 150 employees,
plans further share buybacks. The modified business strategy of operating an
open market platform for tech assets, G|S Market, and an asset management
company, German Startups Asset Management GmbH, is not very
capital-intensive, therefore, management sees the present capital base as
oversized and share buybacks seem favourable.
From the successive sale of its existing portfolio of - by now to a good
proportion of exit-ready -minority stakes and potentially also its majority
shareholding, mainly until the end of 2020, the management of German
Startups Group hopes for medium-term sale proceeds of at least the book
value of the equity amounting to around 30m euros after deduction of
repayment of financial liabilities to be done. This would be considerably
more than the present market capitalization of German Startups Group.
As long as the share price still significantly trades below the Net Asset
Value (NAV) per share in the eyes of the management it wants to use such
sale proceeds for further buybacks of its own share under exclusion of
subscription rights, subject to supervisory board approval, fully exercising
the permitted volume.
According to preliminary results, German Startups Group has been profitable
again in the first half of 2018 (IFRS consolidated) and will publish its
interim report end of September.
Investor Relations Contact
German Startups Group
Marcel Doeppes
[email protected]
www.german-startups.com
German Startups Group - We Love Startups!
The German Startups Group, a publicly traded company comprises one of the
leading VC providers in Germany with a digital agency employing 150 staff in
Berlin. With a focus on Germany's young, fast growing companies - so called
startups - the company acquires majority and minority shareholdings by
providing venture capital. The core investment focus is on those tech
companies whose products or business models include disruptive innovation,
allow for a high degree of scalability and are run by strong entrepreneurial
management teams. Since it commenced operations in 2012, German Startups
Group has built a diversified portfolio of stakes in such companies and has
become the most active private venture capital investor in Germany (CB
Insights 2015, Pitchbook 2016). With the launch of G|S Market(TM) via a
wholly owned subsidiary German Startups Market GmbH, the company operates a
secondary market platform for tech assets since June 2018. Its majority
holding, German Startups Asset Management GmbH, will launch its own novel
type VC funds in the future and provide SPVs for G|S Market(TM) on the
acquirer side in order to enable several investors to acquire larger
investment opportunities through pooled investments.
More information is available on our website at www.german-startups.com.
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Information and Explanation of the Issuer to this News:
Explanations
German Startups Group is making good progress with its strategic
transformation towards a FinTech company. As such, it operates an open
market platform for tech assets and in addition will be also operating asset
management of novel VC funds including so-called feeder funds or
fund-of-funds in the future, receiving commissions, management fees and
carries in doing so. Both new business segments mutually complement and
foster each other and should be significantly contributing to the value of
the company. However, operating them is not very capital-intensive,
therefore, management sees the present capital base as oversized and share
buybacks seem favourable.
In the eyes of the management, the present market capitalization of German
Startups Group, suffers from a high discount to Net Asset Value (NAV) per
share. The management is confident to see significant value increase in some
of its minority shareholdings. The company wants to keep own costs, arising
until these proceeds are due, low in order to maximize net proceeds.
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24-Aug-2018 CET/CEST 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: German Startups Group 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
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Tradegate Exchange
End of Announcement DGAP News Service
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717205 24-Aug-2018 CET/CEST
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