Disclosure of inside information acc. to Article 17 of the Regulation (EU) No 596/2014
PAUL Tech AG: Shareholders resolve to increase capital against cash contributions with aggregate proceeds of appr. EUR 43 million
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Mannheim, 7December 2023 – PAUL Tech AG as issuer of the 7% 20/25 bonds (ISIN: DE000A3H2TU8 / WKN: A3H2TU) informs about the fact the shareholders’ meeting of PAUL Tech AG today unanimously resolved to increase the share capital against cash contributions with aggregate proceeds of approximately EUR 43 million as well as a conversion of a convertible loan in an amount of EUR 1 million into equity.
The capital increase comprises (i) subscription of new shares with proceeds of approximately EUR 40 million in satisfaction of the equity investment commitment entered into by a PE investor focused on SME investments in the DACH region and another institutional investor (“New Equity Round“) and (ii) subscription of new shares by existing shareholders with proceeds of approximately EUR 3 million. In addition, a convertible loan in an amount of EUR 1 million will be converted into equity in connection with the capital increase.
The share capital increase will be implemented in two steps: (i) first, the current share capital of EUR 315,178.00 will be increased by EUR 1,365.00 to EUR 316,545.00 in implementation of the converstion of the convertible loan and (ii) second, the share capital will be increased from EUR 316,545.00 by up to EUR 58,696.00 to up to EUR 375,239.00 in implementation of the New Equity Round and the investment by the existing shareholders. In the aggregate, the company will issue 60,061 new no-par value registered shares in form of Preference Shares Series (B). The new shares carry full dividend rights as of January 1, 2024.
The application for registration of the capital increase is expected to be filed with the commercial register on 12 December 2023. The company expects the registration of the implementation of the capital increase and the flow of the aggregate proceeds from the capital increase to occur before year end.
PAUL Tech Group will use the proceeds from the cash capital increase to finance further growth and for general corporate purposes.
IR Contact:
PAUL Tech AG
Nicole Simon
Theodor-Heuss-Anlage 12
68165 Mannheim
Tel.: +49 (0)621 – 92100100
Fax: +49 (0)621 – 92100101
E-Mail: presse@paul.tech
Disclaimer:
This document and its contents do not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No public offer of securities of PAUL Tech AG is being made or is intended. The distribution of this document may be subject to legal restrictions in certain jurisdictions. Persons into whose possession this document comes are requested to inform themselves about and to observe any such restrictions. Failure to comply with such restrictions may constitute a violation of the securities laws of the relevant jurisdiction.
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