Fyber N.V.
RNTS Media N.V.: announces divestment of BigStar Global Ltd
DGAP-News: RNTS Media N.V. / Key word(s): Miscellaneous RNTS Media N.V. announces divestment of BigStar Global Ltd. RNTS Media N.V. (“RNTS”) announces today the divestment of its subsidiary BIGSTAR Global Ltd. (“BSG”), a Seoul, Korea-based developer of digital educational content for children, to a group of private investors led by Korean-American entrepreneur Jonathan Kim and BSG’s CEO Hyounghoon Han for a purchase price of up to USD 3.0 million. RNTS had decided to concentrate its activities on mobile advertising technology following the acquisition of Fyber and the subsequent acquisitions of Falk, Heyzap, and Inneractive. In this context, RNTS explored options for the future of BSG. BSG had sales of EUR 6 million and losses on EBITDA-level of EUR 582k in FY2015. RNTS had impaired the assets and had taken a restructuring charge of EUR 1.2 million at year-end. RNTS receives USD 1.5 million in RNTS shares currently owned by Hyounghoon Han; such shares will be held as treasury shares. The remaining purchase price of USD 1.5 million will be deferred for payment until a future trade sale of BSG occurs or out of future earnings. RNTS is granting a restructuring loan of USD 1.1 million to BSG, which is expected to be repaid over the next five years. About RNTS Media N.V. Investor Contact: Media Contact:
2016-05-02 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | RNTS Media N.V. | |
Johannisstr. 20 | ||
10117 Berlin | ||
Germany | ||
Phone: | +49 30 609 855 528 | |
E-mail: | governance@rntsmedia.com | |
Internet: | www.rntsmedia.com | |
ISIN: | NL0010315453 | |
WKN: | A1J87D | |
Listed: | Regulated Market in Frankfurt (Prime Standard) | |
End of News | DGAP News Service |