DGAP-Adhoc: UET United Electronic Technology AG approves Capital Increase and completely takes over existing operating companies

2018. június 25., hétfő, 13:35





DGAP-Ad-hoc: UET United Electronic Technology AG / Key word(s): Capital Increase/Miscellaneous


UET United Electronic Technology AG approves Capital Increase and completely takes over existing operating companies


25-Jun-2018 / 13:35 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




  • Nominal Capital Increase of EUR 3.0 million

  • Takeover of existing operating companies through Contribution in Kind

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, reports that the board has decided and approved a Share Capital Increase of the Nominal Capital of EUR 3.0 million by issuing 3.0 million new shares of EUR 1.00 each.



Together with a transaction agreement concluded today Palace Park Ltd. will underwrite this Capital Increase through a Contribution in Kind of their existing 49 % Share of UET Electronic Holding GmbH. The UET AG takes over this 49 % share and is now the sole and only owner.



With this Capital Increase the new Nominal Capital of UET AG amounts to EUR 12.5 million. With this transaction UET AG now holds 100 % of all operating companies within the UET Group, operating the Business Areas SYSTEMS, SERVICE and ENGINEERING.



This transaction is the final closing step of the Existing Frame Agreement announced in September 2016 to improve the capital structure of the UET Group.



The Capital Increase is drawn from the existing approval share capital of the company.



With this and the recently performed measures the UET Group now has a substantially improved equity capital structure. In addition there are no minority stakes of third party investors within the UET group, which leads to an increase of results and earnings per share for the existing shareholders.





Contact:

UET United Electronic Technology AG

Frankfurter Straße 80-82

D-65760 Eschborn



Sebastian Schubert

Investor relations

Tel: + 49 (0) 6196 777755-0

E-Mail: investor@uet-group.com











25-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: UET United Electronic Technology AG

Frankfurter Straße 80-82

65760 Eschborn

Germany
Phone: +49 (0)6196-7777550
Fax: +49 (0)6196-7777559
E-mail: investor@uet-group.com
Internet: www.uet-group.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart





 
End of Announcement DGAP News Service




698385  25-Jun-2018 CET/CEST







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