mic AG, DE000A0KF6S5

mic AG, DE000A0KF6S5

24.03.2017 - 11:34:49

mic AG: Exit of business unit Lifespot Capital AG enables repayment of current liabilities

mic AG: Exit of business unit Lifespot Capital AG enables repayment of current liabilitiesMunich, March 24, 2017 - mic AG (ISIN DE000A0KF6S5), listed in the new quality segment of Frankfurt Stock Exchange, announces the sale of its stake in listed Lifespot Capital AG (LSC). Munich-based mic AG has agreed with several investors to take over mic's share of 43.32% in LSC. Confidentiality is agreed about the buyers and the purchase price. The purchase price allows mic AG to significantly reduce its existing liabilities. The remaining liabilities to third parties, in which mic AG does not have a direct or indirect majority interest, after completion of the transaction will amount to approximately EUR 1 million and is predominantly long-term. As early as December 2016, mic group sold the indirect share held in FIBOTEC FIBEROPTICS GmbH in the course of its general investment focus "Internet of Things for Business Customers" as part of a management buy-out. Furthermore a 50% stake in Wearable Technologies AG was assigned to Navispace AG. LSC has floated its Australian subsidiary Lifespot Health Ltd. (LSH) in January 2017 at Australian securities exchange ASX. Previously, LSH took over 100% of the operating units of LSC, BodyTel GmbH and Lifespot AG. LSC currently holds a stake of 22 million shares in LSH."After the much-noticed IPO of LSH at Australia's largest securities exchange ASX, we can now show our willingness to complete exits. In this respect, the sale of our 43.32% stake is a logical step in our strategy execution and the settlement of short-term liabilities a further milestone in the refocusing of mic AG," said Christian Damjakob, COO of mic AG. "We will use the LSH transaction as blueprint and track record to successfully develop further promising growth scenarios in our technology portfolio. On the part of investors familiar with such IPOs, we are currently experiencing a high demand towards our technology companies. We are already in the pitch phase and will soon decide for the next IPO project. In addition, the IPO-leverage enables us to execute new investments with small amounts of capital employed and a short investment period. This is also the subject of advanced talks."About mic AG As an active investor, mic AG is investing, in addition to its already existing disruptive technologies, in SMEs in the field of optics, electronics, healthcare and IT. The focus is digitalization and Internet of Things. Due to setting the course in this strategic way, mic AG is increasingly developing into a technology provider for industrial companies and international organizations. Through its business units, mic AG supports its portfolio companies to successfully grow their business and arranges for adequate funding strategies. Since October 2006 mic AG is listed on Germany's Deutsche Börse in Frankfurt (ticker symbol: M3B, ISIN: DE000A0KF6S5). More information about mic AG is available at www.mic-ag.eu.Contact mic AG: Elke Kohl Investor Relations Denisstr. 1b D-80335 München Tel: +49 - 89-244-192-200 Fax: +49 - 89-244-192-230 E-Mail: info@mic-ag.eu www.mic-ag.eu ISIN: DE000A0KF6S5 | WKN: A0KF6S | Symbol: M3B

24.03.2017 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.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: mic AG Denisstr. 1b 80335 München

Germany Phone: +49 (0)89 244 192-200 Fax: +49 (0)89 244 192-230 E-mail: info@mic-ag.eu Internet: www.mic-ag.eu ISIN: DE000A0KF6S5 WKN: A0KF6S Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt   End of News DGAP News Service

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