STS Group AG decides to increase its share capital to ensure short-term liquidity
DGAP-News: STS Group AG
/ Key word(s): Capital Increase
- Mutares SE & Co. KGaA as sole subscriber at an issue price of EUR 3.00 per share
Hallbergmoos/Munich, September 11, 2020. The Management Board of STS Group AG (ISIN: DE000A1TNU68), a globally active systems supplier for the automotive and commercial vehicle industry listed on the regulated market (General Standard) of the Frankfurt Stock Exchange, resolved on September 10, 2020, with the approval of the Supervisory Board, to increase the Company's share capital by EUR 500,000 from EUR 6,000,000 to EUR 6,500,000 by issuing 500,000 new shares against cash contribution, partially utilizing the Authorized Capital 2018/I under exclusion of subscription rights.
For the subscription and acquisition of the new shares only Mutares SE & Co. KGaA alone was admitted. The issue price was set at EUR 3.00 per new share. STS Group AG will thus receive gross issue proceeds totaling EUR 1,500,000.00.
Additional funds will be required until the end of the year to implement the restructuring measures that have been initiated and the strategic orientation of STS Group AG initiated with the sale of the Acoustics business unit. The Management Board of STS Group AG is therefore continuing to evaluate all options for raising further funds.
On August 7, 2020, the Management Board of STS Group AG announced the convening of an extraordinary General Meeting to be held on September 25, 2020, the only item on the agenda being the notification of the loss of more than half of the share capital of STS Group AG in accordance with the section 92 (1) of the German Stock Corporation Act (AktG). There are no further items for resolution on the agenda of this General Meeting.
About STS Group:
11.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||STS Group AG|
|Phone:||+49 (0)811 124494 0|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1130467|
|End of News||DGAP News Service|