DGAP-Adhoc: Your Family Entertainment AG: Acquisition of controlling share by Genius Brands International, Inc., announcement of the submission of a mandatory offer to the shareholders

2021. december 02., csütörtök, 08:26





DGAP-Ad-hoc: Your Family Entertainment AG / Key word(s): Offer/Alliance


Your Family Entertainment AG: Acquisition of controlling share by Genius Brands International, Inc., announcement of the submission of a mandatory offer to the shareholders


02-Dec-2021 / 08:26 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.




-Convenience Translation only-



Acquisition of controlling share by Genius Brands International, Inc., announcement of the submission of a mandatory offer to the shareholders of Your Family Entertainment Aktiengesellschaft at the offer price of EUR 2.00 per share; strategic partnership with Genius Brands International, Inc. planned

 



München, 2 December 2021



Genius Brands International, Inc., Beverly Hills, California, USA ("Genius Brands") informed Your Family Entertainment Aktiengesellschaft (WKN A161N1; ISIN DE000A161N14) today that it has agreed with shareholder F&M Film- und Medien Beteiligungs GmbH, Vienna, Austria ("F&M") an agreement to acquire an approximately 29% stake in Your Family Entertainment Aktiengesellschaft at a purchase price of EUR 2.00 per registered share. Concurrently, Genius Brands and F&M concluded an agreement on the joint exercise of voting rights for the shares held by both parties in Your Family Entertainment Aktiengesellschaft.



By obtaining control over Your Family Entertainment Aktiengesellschaft pursuant to Sections 35 (1) and 29 (2) WpÜG, Genius Brands is required to submit a mandatory offer pursuant to Section 35 (2) WpÜG to acquire all registered shares in Your Family Entertainment Aktiengesellschaft. Genius Brands also informed the company today that it intends to make such a mandatory offer to the shareholders of Your Family Entertainment Aktiengesellschaft in return for a cash payment of EUR 2.00 per registered share in Your Family Entertainment Aktiengesellschaft. This would correspond to a premium of around 65% on the current share price (XETRA closing price on 1 December 2021) and a premium of around 62% on the volume-weighted average price of the last three months prior to the announcement of the offer. The offer document for the mandatory offer will be published on the Internet after approval by the Federal Financial Supervisory Authority ("BaFin").



Subject to the review of the published offer document and its duties of care and loyalty, Management and Supervisory Board of Your Family Entertainment Aktiengesellschaft welcome Genius Brands" entry as a new strategic shareholder in the company.



In addition, Genius Brands announced that it will invest up to EUR 7 million in Your Family Entertainment Aktiengesellschaft to support the expansion of the global digital and linear channel presence as well as Your Family Entertainment Aktiengesellschaft"s own formats. Moreover, Genius Brands proposes that the company be renamed Genius Family Entertainment Aktiengesellschaft.



Genius Brands International, Inc. (Nasdaq: GNUS) is a leading global media company that designs, manufactures, markets, and licenses children"s entertainment and consumer products for media and retail distribution. Management and Supervisory Board of Your Family Entertainment Aktiengesellschaft are planning to enter into a strategic partnership with Genius Brands which should, in particular, extend to the bundling of sales and broadcasting activities, film libraries, and streaming platforms. Further synergies could result from the global rights management of licensing family programs.



Your Family Entertainment Aktiengesellschaft



Vorstand/Management Board



 



Contact:

Michael Huber (CFO)

Tel.: +49 (0)89 / 99 72 71-0

Fax: +49 (0)89 / 99 72 71-91

EMail: michael.huber@yfe.tv











02-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



























Language: English
Company: Your Family Entertainment AG

Türkenstraße 87

80799 München

Germany
Phone: +49 (0)89 997 271-0
Fax: +49 (0)89 997 271-91
E-mail: ir@yfe.tv
Internet: www.yfe.tv
ISIN: DE000A161N14
WKN: A161N1
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart
EQS News ID: 1253560





 
End of Announcement DGAP News Service




1253560  02-Dec-2021 CET/CEST







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