+++ Ad-hoc announcement +++
SGT German Private Equity receives 8.3 million treasury shares free of charge from a conditional return offer
- Return of 14% of all outstanding SGF shares
- Value of the share increases ceteris paribus by 17%
- Additionally positive earnings effect of share redemption of just under 12 million EUR in 2022
Frankfurt/Main, 1 July 2022 – SGT German Private Equity GmbH & Co. KGaA (SGF), a listed Private Equity asset manager, receives 8,333,000 SGF shares free of charge from its major shareholder SGT Capital LLC (SGTLLC) as of 30.06.2022, from a share return offer.
SGTLLC had granted SGF a binding, conditional offer for a share return in July 2020 on the occasion of a capital increase in kind of SGF. The scope of the offer was dependent only on the amount of capital raised by SGT Capital Pte. Ltd. (SGTPTE) up to a certain point in time, notwithstanding that the profitability of SGTPTE also significantly depends on various other factors, where expectations and targets have been clearly outperformed in the meantime. Despite the good profitability of SGTPTE, which was contributed to SGF by SGTLLC as a contribution in kind, SGTLLC is now transferring a further 8,333,000 of the original 50 million issued shares back to SGF. As of 31.12.21, SGTLLC had already transferred 2,176,500 SGF shares to SGF, free of charge, to compensate for the delay-related shortfalls in SGTPTE’s earnings in 2H2020 and 2021. Accordingly, the total number of SGF shares transferred to SGTLLC as payment in kind for the acquisition of SGTPTE, has been retrospectively reduced by more than one fifth compared to the agreed number resolved by the Annual General Meeting on 7.08.2020.
With the share return, the number of SGF treasury shares increases from 2,719,200 shares to 11,052,200 shares. The number of outstanding shares decreases from 58,134,800 to 49,801,800. The free float is increased by 2.9 percentage points or by 16%. Ceteris paribus, the value per outstanding share increases by 17% or 0.25 EUR per share due to the reduction in the number of outstanding shares.
On top of that the share return will have a positive earnings effect of just under 12 million EUR or 0.24 EUR per share for the first half of 2022.
Investor Relations Contact
Rosenberg Strategic Communications
+49 170 302 8833
About SGT German Private Equity
SGT German Private Equity is a Germany-based listed private equity asset manager with registered office in
Frankfurt/Main. Its 100% subsidiary SGT Capital Pte. Ltd. is a global alternative investment and private equity
asset manager headquartered in Singapore.
For its new, sector-agnostic private equity fund SGT Capital Fund II with a geographical focus on Europe and
North America (fund lifetime ten years), SGT is aiming for a target fundraising volume of 1 to 3 billion USD. The
management team has many years of senior experience at renowned addresses – global private equity houses,
management consultancies and investment banks.
From its origin as a leading German venture capital provider under the German Startups Group brand SGT
German Private Equity also holds a heritage portfolio of minority stakes in some promising German Startups.