JAXX SE / Key word(s): Letter of Intent

19.01.2012 12:21

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JAXX SE, Kiel, has entered into firm negotiations with a group of investors on the sale of the investment holdings and assets of its lottery business. A corresponding letter of intent was signed today between the Management Board of JAXX SE and the group of investors.

The lottery operations, which comprise the companies JAXX GmbH (Hamburg), JAXX GmbH (Lustenau, Austria), Vendo Spielsysteme GmbH (Lustenau, Austria), fluxx.com Telewette GmbH (Hamburg), JAXX UK Ltd. (London, GB) as well as certain assets of other group companies, are to be sold to the group of investors with economic effect from January 1, 2012. The target is to complete the transaction by the end of February 2012. The sale also includes the JAXX domains, JAXX brands and rights relating to the name JAXX, though the change in the name of the disposing parent company JAXX SE is subject to the approval of its Shareholders' Meeting. Spanish lottery business, which is operated by the 70 percent owned subsidiary DIGIDIS S.L., Madrid, is not part of the transaction.

The price being targeted is EUR 12.5 million. It is subject to the findings of due diligence, which will now start. The cash inflows from the transaction are largely earmarked for financing the capital expenditure plans for the next few years for sports betting, casino and poker business, on which the JAXX Group has focused.

DISCLAIMER This communication is intended for publication exclusively in Germany and other selected countries. It may not be distributed in or forwarded to the following countries in whole or part, nor published or made available there in any other way: USA, Canada, Japan, Australia, any other country in which such action is restricted by law or prohibited, and any dependent territories of the above countries.

This communication contains statements about future developments that are based on information currently available and involve risks and uncertainties that may result in the actual results differing from these future-related statements. Such risks and uncertainties include, for example, unforeseeable changes in political and economic conditions, in particular in the area of the gaming market, the competitive situation, interest and exchange rate movements as well as other risks and unexpected circumstances. JAXX SE and its group companies make no undertaking to update such future-related statements.

Contact: JAXX SE Investor Relations & Corporate Communications Stefan Zenker Tel. +49 (40) 85 37 88 47 Fax +49 (40) 85 37 88 30 Mail stefan.zenker@jaxx.com

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Language: English
Company: JAXX SE
Jägersberg 23
24103 Kiel
Germany
Phone: +49 (0)431 88 104-0
Fax: +49 (0)431 88 104-40
E-mail: ir@jaxx.com
Internet: www.jaxx-se.com
ISIN: DE000A0JRU67
WKN: A0JRU6
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service