03.07.2020 flatex AG  DE000FTG1111

DGAP-News: flatex AG: Free float increases to 70%


 

DGAP-News: flatex AG / Key word(s): Corporate Action/Transaction in Own Shares
flatex AG: Free float increases to 70%

03.07.2020 / 08:30
The issuer is solely responsible for the content of this announcement.


Corporate News / Frankfurt/Main, 3 July 2020

Not for publication or distribution in the United States of America, Australia, Canada, Japan or South Africa or in any other jurisdiction in which offers or sales would be prohibited by applicable law.


Flatex free float increases to 70%

Frankfurt/Main - After the core shareholders of flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), GfBk Gesellschaft für Börsenkommunikation mbH ('GfBk') and Heliad Equity Partners GmbH & Co. KGaA ('Heliad'), announced today their intention to sell up to 2,300,000 shares in flatex (approximately 11.7% of all outstanding shares) in a private placement to institutional investors, the free float of the flatex share will increase to 70%.

In this context, Bernd Förtsch, owning - directly and indirectly via GfBk - approx. 27.7% of flatex will sell up to 1,800,000 shares. Heliad, currently holding approx. 9.8% of flatex, will sell up to 0.5m shares. Mr. Förtsch will hold after the private placement directly as well as indirectly via GfBk 18.6%, Heliad will continue to hold 7.3%.

"We thank our two core shareholders who have supported us over the last years. Now, the time is right to allow flatex to broaden its shareholder base with additional institutional investors in order to increase the free float. This is an important step in connection with our uplisting to the Prime Standard in the fourth quarter of 2020 and will benefit the liquidity of the flatex shares," says Frank Niehage, CEO of flatex.

"After closing the DEGIRO transaction, which we expect in the next weeks, we aim for 2 million clients and 60 million transactions in the mid-term", says Muhamad Chahrour, CFO of flatex. "The increased diversification of our shareholder base, including new and existing institutional investors will support our capital market orientation. This allows us to align our capital market story with our commercial goal to become the leading European online broker."

In December 2019, flatex already acquired 9.4% of DEGIRO for EUR 23.6 million in cash. Upon the closing of the acquisition, the remaining 90.6% of the shares will be acquired and financed by carrying out a capital increase against contribution in kind. In this context, up to 7.5 million new flatex shares will be issued to the current DeGiro shareholders precluding the subscription rights of existing shareholders. In addition, flatex will pay on a debt-and-cash-free basis EUR 36.4 million in cash. DEGIRO shareholders agreed to a 12-month lock-up.

Contact:
Muhamad Said Chahrour
Chief Financial Officer (CFO)
Tel. +49 (0) 69 450001 0
[email protected]
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main

About flatex AG

flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe, executing more than 12 million securities transactions paperless per annum. More than 350,000 B2C customers are offered top services and a wide range of an independent product offering at a competitive pricing, based on a modern, self-developed state-of-the-art technology.

In December 2019, flatex announced the acquisition of DeGiro, which will make it one of the largest online brokers in Europe. After completion of the transaction, together they expect to serve more than one million customers with up to 50 million securities transactions in 2020. In a time of bank consolidation, low interest rates and digitalization, the flatex Group is thus ideally positioned for further growth and on its way to becoming Europe's leading provider of online retail brokerage.

Disclaimer

This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by flatex AG may substantially differ from these forward-looking statements. flatex assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.

This publication may not be published, distributed or transmitted, directly or indirectly, in or into the United States of America (including its territories and possessions), Australia, Canada, Japan or South Africa or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This publication does not constitute an offer of securities for sale or a solicitation of an offer to purchase the above-mentioned securities in the United States, Germany or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under any applicable securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in or into the United States absent registration or in transactions exempt from or not subject to the registration requirements of Securities Act. There will be no public offer of the securities in the United States.

In the United Kingdom, this document is only being distributed to and is only directed at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document refers is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In member states of the European Economic Area ("EEA") which have implemented the Prospectus Directive (each, a "Relevant Member State"), this announcement and any offer if made subsequently is directed exclusively at persons who are "qualified investors" within the meaning of the Prospectus Directive ("Qualified Investors"). For these purposes, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto to the extent implemented in a Relevant Member State) and includes any relevant implementing measure in the Relevant Member State. No action has been taken that would permit an offering of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.



03.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: flatex AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 0
E-mail: [email protected]
Internet: www.flatex.com
ISIN: DE000FTG1111
WKN: FTG111
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1085507

 
End of News DGAP News Service

1085507  03.07.2020 

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Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 75,19 95,02 107,01 125,10 131,95 261,49 380,00
EBITDA1,2 19,74 30,62 32,07 42,37 37,58 98,43 165,00
EBITDA-Marge3 26,25 32,22 29,97 33,87 28,48 37,64 43,42
EBIT1,4 17,24 25,47 26,48 30,62 24,75 73,79 146,00
EBIT-Marge5 22,93 26,80 24,75 24,48 18,76 28,22 38,42
Jahresüberschuss1 -2,16 12,32 16,80 17,47 14,91 49,92 97,00
Netto-Marge6 -2,87 12,97 15,70 13,96 11,30 19,09 25,53
Cashflow1,7 -58,71 -143,96 0,11 250,07 -157,25 141,45 69,00
Ergebnis je Aktie8 -0,10 0,73 1,00 0,98 0,77 2,16 3,50
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

INVESTOR-INFORMATIONEN
©boersengefluester.de
flatexDEGIRO
WKN Kurs in € Einschätzung Börsenwert in Mio. €
FTG111 102,000 Kaufen 2.797,47
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
23,18 26,16 0,89 120,00
KBV KCV KUV EV/EBITDA
6,28 19,78 10,70 28,42
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,00 0,00 0,00 29.06.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
20.04.2021 31.08.2021 09.11.2021 08.04.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-2,66% 24,12% 60,63% 169,13%
    
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FinTech , FTG111 , FTK , XETR:FTK