11880 Solutions AG adopts resolution to implement capital increase from authorised capital
Essen, 11 September 2019 - The Management Board of 11880 Solutions AG (WKN 511880) today adopted a resolution, approved by the Supervisory Board, to implement a capital increase from authorised capital in return for cash contributions by issuing 1,911,109 new shares at an issue price of EUR 1.83. The pre-emption rights of shareholders have been disapplied for this capital increase. The major shareholder united vertical media GmbH will subscribe for and acquire all of the new shares.
11880 Solutions AG will use the cash inflow to invest in a new IT infrastructure, which is urgently required to enhance customer acquisition and customer loyalty. The company also intends to broaden and accelerate its efforts to establish the very successfully launched platforms werkenntdenBESTEN.de and wirfindendeinenJOB.de in the market.
The capital increase will raise the company's share capital from EUR 19,111,091.00 to EUR 21,022,200.00. The new shares carry dividend rights from 1 January 2019 and will be admitted to trading in the Prime Standard segment of the Frankfurt Stock Exchange.
As a result of this corporate action, 11880 Solutions AG has adjusted its forecast for financial year 2019 as follows: For 2019, 11880 Solutions AG expects consolidated revenues in the range of EUR 46.1 to 48.9 million (previous guidance: EUR 40.3 to 47.0 million) and consolidated EBITDA of EUR 1.8 to 2.8 million (previous guidance: EUR 2.0 to 4.0 million). The company also anticipates a cash flow of EUR 2.0 to 2.8 million for financial year 2019 (previous guidance: EUR -1.0 to 0.0 million) and cash holdings of EUR 4.6 to 5.4 million as of 31 December 2019 (previous guidance: EUR 1.6 to 2.6 million).Contact: Anja Meyer 11880 Solutions AG Unternehmenskommunikation Tel.: 0201 / 8099-188 E-Mail: firstname.lastname@example.org
11-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: 11880 Solutions AG Hohenzollernstraße 24 45128 Essen
Germany Phone: 0201-80990 E-mail: email@example.com Internet: www.11880.com ISIN: DE0005118806, DE0005118806, , WKN: 511880, 511880 Indices: Prime All Share Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 872255 End of Announcement DGAP News Service
872255 11-Sep-2019 CET/CEST