SNP Schneider-Neureither & Partner AG Increases Share Capital by up to 10%
SNP | Corporate News
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SNP Schneider-Neureither & Partner AG Increases Share Capital by up to 10% Heidelberg, Germany, July 05, 2017 - SNP Schneider-Neureither & Partner AG has resolved a cash capital increase from authorized capital by up to 10% minus one share. In total, up to 497,677 new shares shall be offered to selected institutional investors by means of an accelerated bookbuilding process under exclusion of subscription rights.
The net proceeds from the capital increase will be largely used as part of the company's inorganic growth strategy to finance the acquisitions of three South American SAP consultancy firms. The three profitable companies bring with them renowned customers who focus on projects with very large data volumes. The SAP consultancy firms have generated robust revenue growth in recent years. In fiscal year 2016, total revenue amounted to around USD 20 million. On the basis of these companies' stable average operating earnings before interest and taxes (EBIT) margin constituting approximately 9% in the previous few years, SNP AG expects a positive earnings contribution for the fiscal year of USD 1.4 million to USD 1.8 million. For the current fiscal year, the actual earnings contribution on a pro rata temporis basis is expected to be USD 0.7 million to USD 0.9 million.
Dr. Andres Schneider-Neureither, CEO of SNP AG, said, "SNP is continuing to grow with increased dynamism, both inorganically and organically. We are using the opportunities presented in order to further expand both our international presence as well as our market shares. In the process, we are paying attention to qualitative and profit-oriented growth. We are supporting this course of growth with the capital increase." In addition, the company intends to use the remaining revenue for further organic and inorganic growth.
The new shares are entitled to dividends for the fiscal year 2017 beginning on January 01, 2017. The new shares will be exclusively offered to institutional investors as part of a private placement by means of an accelerated bookbuilding offering, which will be implemented immediately after this announcement.
The transaction will be conducted by Joh. Berenberg, Gossler & Co. KG as the sole global coordinator and sole bookrunner. The company has agreed on a three-month lock-up with market-specific exceptions with the consortium bank. The first trading day for the new shares is expected to be on July 10, 2017.
SNP helps companies adapt their business models and successfully utilize opportunities for digitalization with IT that is receptive to change. SNP's software and services make it possible to implement business or technical changes quickly and efficiently even in global business applications.
With CrystalBridge and Transformation Backbone with SAP LT, SNP provides the world's leading software suite for data transformations that automatically analyzes, implements and maintains changes to IT systems. This provides customers with clear qualitative advantages, while significantly reducing the time and expense involved in transformation projects.
The SNP Group has over 1000 employees worldwide. Headquartered in Heidelberg, the company generated revenue of approximately EUR 81 million in 2016. SNP's customers are global corporations from all industries. SNP was founded in 1994 and has been publicly traded since 2000. As of August 2014, the company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0007203705).
Further information is available at www.snpgroup.com
Investor Relations Contact:
Marcel Wiskow Tel.: +49 6221 6425-637 Fax: +49 6221 6425-470 Email: firstname.lastname@example.org https://www.snp-ag.com/investor-relations/
This publication constitutes neither an offer to sell nor a solicitation to buy shares of SNP Schneider-Neureither & Partner AG.
This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares of SNP Schneider-Neureither & Partner AG (the "Shares") have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the Shares in the United States and the Shares will not be registered under the Securities Act.
This document is only being distributed to and is only directed at persons who (i) are outside the United Kingdom or (ii) are investment professionals falling within Article 19(5) or persons falling within Article 49(2)(a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) (all such persons together being referred to as "relevant persons"). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons.
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05.07.2017 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.deLanguage: English
Company: SNP Schneider-Neureither & Partner AG Dossenheimer Landstraße 100 69121 Heidelberg
Germany Phone: +49 6221 6425 637 Fax: +49 6221 6425 470 E-mail: email@example.com Internet: www.snp-ag.com ISIN: DE0007203705 WKN: 720370 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service