H2APEX Group SCA
exceet Group SE: Special Distribution / Change of Legal Form / Restructuring / Redemption of Treasury Shares / Opportunistic Investment Approach / Resignation of Mr. Wolf-Günter Freese
exceet Group SE / Key word(s): Payout/Restructure of Company Ad hoc Announcement exceet Group SE: Special Distribution / Change of Legal Form / Restructuring / Redemption of Treasury Shares / Opportunistic Investment Approach / Resignation of Mr. Wolf-Günter Freese A description of the legal and economic consequences of the change and legal form and the future participation of the shareholders can be found in the conversion reports prepared by the Board of Directors, which will be made available to the shareholders with the convening of the extraordinary general meetings. On the occasion of the envisaged change of legal form further steps will be taken regarding the consolidation of the group activities in Luxembourg. In the course of this restructuring, one-off expenses in the amount of approximately EUR 1 million are expected to accrue. The Board of Directors of the Company further resolved today to propose to the shareholders a special distribution in the amount of EUR 3.00 per share. Applied to the 20,073,695 dividend-bearing shares the overall distribution payout will amount to EUR 60,221,085.00 and would be funded out of the net liquidity within the exceet Group (EUR 109.9 million on 30 June 2019). The special distribution would be paid from the share premium account of the Company and exempt from withholding tax in Luxembourg. In view of the envisaged change of legal form, the Board of Directors plans to clean up the capital structure of the Company and, therefore, will propose to the general meeting the redemption of the 450,000 treasury shares. The special distribution is expected to be resolved at the first extraordinary general meeting to be held in November 2019 and the redemption of the treasury shares is expected to be resolved at the second extraordinary general meeting to be held at the end of December 2019. AOC informed the Company that, following the transformation into an SCA, it intends to pursue with the Company an opportunistic investment approach without a defined investment strategy. In the future, the focus will be on seizing attractive risk / reward profiles without restrictions regarding the asset class or duration of such investments. Mr. Wolf-Günter Freese resigned from his office as member of the Board of Directors and Group CEO & CFO with effect as per 31 March 2020 whereby he will continue to fully execute his current functions until this point in time. The decision was taken today by mutual agreement with the Board of Directors which regrets this step and expresses thanks to Mr. Freese’s for his long-term, successful work for the Company. Mr. Freese wishes to address new challenges, now that the envisaged restructuring of exceet Group has been initiated by today’s resolutions. Mr. Freese will support the Company in the search for an adequate successor. The Company will inform the capital market and the public on the succession of Mr. Freese in due course. For further information: Wolf-Günter Freese, CEO & CFO – Email: Investor.relations@exceet.com Telephone +352 2838 4720 ISIN: LU0472835155 Listed: Regulated Market of the Frankfurt Stock Exchange (Prime Standard) About exceet
19-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | exceet Group SE |
17, rue de Flaxweiler | |
6776 Grevenmacher | |
Luxemburg | |
Phone: | +352 2838 4720 |
Fax: | +352 2838 4729 |
E-mail: | info@exceet.com |
Internet: | www.exceet.com |
ISIN: | LU0472835155, LU0472839819 |
WKN: | A0YF5P, A1BFHT |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 876791 |
End of Announcement | DGAP News Service |