+++ Press release +++
German Startups Group completes buyback of
900,115 own shares
Berlin, 11 July 2019 – German Startups Group, a leading venture capital provider in Germany and Berlin-based digital agency with 150 employees, closes its share buyback. As part of the public share buyback offer published 29 May 2019 on the Company’s website and in the German Federal Gazette, a total of 1,138,342 shares have been tendered to German Startups Group GmbH & Co. KGaA until the end of the extended acceptance period on 8 July 2019 (12:00 pm MEZ).
The repurchase offer related to the acquisition of up to 900,115 registered no-par-value shares of German Startups Group GmbH & Co. KGaA in exchange for a cash payment of EUR 1.50 per share. As the total number of shares tendered in the offer exceeds 900,115, all acceptance declarations for up to 100 shares will be considered fully while declarations above will be considered pro rata in accordance with section 3.5 of the offer document of the share buyback, for every 100 tendered shares on average 79 shares at a price of 1.50 Euro are acquired.
The tendered shares, for which the received acceptance declarations could be taken into account are expected to be transferred on 16 July 2019 from the customers’ depository accounts against payment of the offered price. Shares for which the declaration of acceptance could not be taken into account due to the pro rata consideration, remain in the customer depository accounts and are reversed to the original security identification number (WKN) A1MMEV4 or ISIN DE000A1MMEV4 which is listed in the scale segment of the open market at Frankfurt Stock Exchange.
After completion of the share buyback, German Startups Group owns 1,130,400 own shares (just under 9,4% of the companies’ registered share capital).
The management of the German Startups Group evaluates the success of its public share buyback offer to strengthen its intention to pursue further divestments, to realize capital gains if possible and to compensate the shareholders in the form of further share buybacks, as long as German Startups Group’s shares are trading, in the management’s view, well below the net asset value (NAV) per share, fully utilizing the permitted volume for the use of own shares under exclusion of subscription rights, of each 10% of the total number of shares between two annual general meetings.
Investor Relations Contact
German Startups Group
German Startups Group – We Love Startups!
The German Startups Group, a publicly traded company comprises one of the leading VC providers in Germany with a digital agency employing 150 staff in Berlin. With a focus on Germany’s young, fast growing companies – so called startups – the company acquires majority and minority shareholdings by providing venture capital. The core investment focus is on those tech companies whose products or business models include disruptive innovation, allow for a high degree of scalability and are run by strong entrepreneurial management teams. Since it commenced operations in 2012, German Startups Group has built a diversified portfolio of stakes in such companies and has become the most active private venture capital investor in Germany (CB Insights 2015, Pitchbook 2016). With the launch of G|S Market™ via a wholly owned subsidiary German Startups Market GmbH, the company operates a secondary market platform for tech assets since June 2018. Its majority holding, German Startups Asset Management GmbH, will launch its own novel type VC funds in the future and provide SPVs for G|S Market™ on the acquirer side in order to enable several investors to acquire larger investment opportunities through pooled investments.
More information at https://sgt-germanpe.com/.