DGAP-Adhoc: GOVECS AG extends subscription period to 8 November 2018

2018. szeptember 27., csütörtök, 08:19

DGAP-Ad-hoc: GOVECS AG / Key word(s): Miscellaneous

GOVECS AG extends subscription period to 8 November 2018

27-Sep-2018 / 08:19 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.


GOVECS AG extends subscription period to 8 November 2018

Munich, 27 September 2018 - GOVECS AG (ꞌGOVECSꞌ, ꞌthe companyꞌ), leading manufacturer of e-scooters in Europe, has decided today, jointly with the existing shareholders and with Bankhaus Lampe and COMMERZBANK as ꞌJoint Global Coordinatorsꞌ, to extend the subscription period for the companyꞌs intended initial public offering (IPO) until 8 November 2018. The company is currently in negotiations with clients and strategic partners, which - upon conclusion - could have a positive effect on the operating business. The extension of the subscription period aims to, among other things, enable potential investors to take the results of these developments into account for their investment decision in the context of the IPO.

GOVECS expects to be in a position to sign further supply agreements for e-scooters over the coming weeks. In particular, this includes framework agreements with existing and new clients for expanding and establishing shared-vehicles fleets in large European cities. Simultaneously, GOVECS is in negotiations concerning strategic partnerships regarding both, the product development in the sharing and B2C segments as well as the further internationalization of the business activities where GOVECS sees growth opportunities in the future.

Potential investors now have the opportunity to submit their purchase orders until 8 November 2018. The other parameters of the planned IPO remain unchanged. The offering comprises a total of up to 7,532,500 bearer shares. Of these, up to 6,250,000 shares result from a capital increase and up to 300,000 shares derive from the principal shareholder, Dquadrat Equity Partner. Additionally, up to 982,500 shares from the principal shareholder can be placed as part of a greenshoe option. The price range is between EUR 10.00 and EUR 12.00 per share.

The GOVECS shareꞌs first day of trading on the Frankfurt stock exchangeꞌs Regulated Market, with simultaneous admission to the sub-segment within the Regulated Market that entails additional post-admission obligations (Prime Standard), is projected to be 13 November 2018. The security identification number (WKN) is A2NB12, the International Securities Identification Number (ISIN) is DE000A2NB122 and the stock-exchange ticker is GES.

The supplement number 1 to the securities prospectus regarding the extension of the subscription period will be published on the company"s website and available for download at https://www.govecsgroup.com/en/ipo/ after approval by the German Financial Supervisory Authority (BaFin).

Information and Explanation of the Issuer to this News:


The GOVECS Group is the leading manufacturer of electric scooters in Europe and is developing future-oriented solutions for urban mobility. The Company"s success is based on high-quality "Made in Europe" products for international vehicle sharing platforms and on custom-made designs for the rapidly growing merchandise delivery segment. GOVECS is selling electric scooters and accessories to the high-growth private customer segment via its own HappyScooter e-commerce platform. The GOVECS product range currently includes the e-scooters of the Schwalbe, GO! S, ELMOTO and GO! T brands.


Contacts for media enquiries:

GOVECS AG, Daniele Cesca, dcesca@govecs.com, +49 89 411 09 77 15

Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 40 60 91 86 64



The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any State of the United States of America or the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended ("Securities Act")) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. Securities of GOVECS AG (the "Company") have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The Company does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

This release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company. No offer of the securities of the Company is being, or will be made to the public outside the Federal Republic of Germany ("Germany") and the Grand Duchy of Luxembourg ("Luxembourg"). The offer in Germany and Luxembourg is being made solely by means of, and on the basis of, the published securities prospectus (including any supplements thereto, if any) which is approved by the German Federal Financial Supervisory Authority (BaFin). The securities prospectus is available free of charge at Company"s office, as well as, for viewing in electronic form, on the Company"s website (www.govecsgroup.com). An investment decision regarding the publicly offered securities of the Company should only be made on the basis of the securities prospectus.

In member states of the European Economic Area ("EEA") other than Federal Republic of Germany ("Germany") and the Grand Duchy of Luxembourg ("Luxembourg"), this information is only addressed to and directed at persons who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC and any amendments thereto including Directive 2010/73/EU to the extent implemented in the relevant EEA member state) and any relevant implementing measure in the relevant member state of the EEA ("Qualified Investors"). In the United Kingdom, this information is directed at and/or for distribution only to (i) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) high net worth companies falling within article 49(2)(a) to (d) of the Order (each such person hereinafter a "relevant person"). The securities 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. Any person who is not a relevant person should not act or rely on this information or any of its contents.

Statements contained herein may constitute "forward-looking statements." Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Group"s or its industry"s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward looking statements. You should not place undue reliance on forward-looking statements and the Group does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.

27-Sep-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: GOVECS AG

Grillparzerstraße 18

81675 Munich

Phone: +49 (0)89 411 09 77 - 0
E-mail: info@govecs.com
Internet: www.govecs.de
ISIN: DE000A2NB122
Listed: Regulated Market in Frankfurt (Prime Standard)

Notierung vorgesehen / Designated to be listed

End of Announcement DGAP News Service

727859  27-Sep-2018 CET/CEST

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