UET United Electronic Technology AG

  • ISIN: DE000A0LBKW6
  • Land: Deutschland

Nachricht vom 19.09.2016 | 13:00

UET United Electronic Technology AG fully integrates operating companies via Capital Increase and reduces liabilities.

UET United Electronic Technology AG  / Key word(s): Capital

19.09.2016 13:00

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

- Capital Increase of 3.0 mn EUR against contributions in kind - Reduction of liabilities by 7.0 mn EUR Today, UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces that it has signed an agreement to simplify and strengthen the holding structure and equity as well as the reduction of liabilities with the existing shareholders and minority shareholders. Palace Park Ltd., the existing shareholder of UET AG and minority shareholder of UET Electronic Holding GmbH, where it holds a 49 % stake, subscribed a capital increase of 3.0 mn EUR through a contribution in kind. Palace Park Ltd. will transfer their shares held in UET Electronic Holding GmbH, which is part of the UET group, to UET AG in exchange of newly issued shares. Consequently, the UET AG becomes the sole shareholder of the UET Electronic Holding GmbH and thus indirectly also the sole shareholder of ELCON Systemtechnik, NewTal Elektronik + Systeme, SUCONI Service and Letron Electronic. In order to reduce corporate liabilities, the UET Group buys back the shareholder loans from the existing shareholders Palace Park Ltd. and FIGLIO Beteiligungsverwaltung, including all accrued and unpaid interests, in total 7.0 mn EUR for a purchase price of 1.0 EUR each. The transaction will be performed by a UET Group subsidiary. The liabilities within the group thereby will be reduced by 7.0 mn EUR. This transaction significantly strengthens and simplifies the structure of the UET group. In a further step, the operating companies ALBIS Technologies and ELCON Systemtechnik can now be better integrated operationally enabling further synergies. As a next step, it is planned to raise additional new capital. The actual transaction supports, enables and contributes as a necessary preparation measure. The capital increase through contribution in kind will use the existing authorized capital. The closing of the capital increase is scheduled for the fourth quarter of 2016. Contact: UET United Electronic Technology AG Frankfurter Straße 80-82 D-65760 Eschborn Sebastian Schubert Investor Relations Tel: + 49 (0) 6196 777755-0 E-Mail: investor@uet-group.com Contact: UET United Electronic Technology AG Phone: +49 6196 7777550 Fax: +49 6196 7777559 eMail: investor@uet-group.com 19.09.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: UET United Electronic Technology AG Frankfurter Straße 80-82 65760 Eschborn Germany Phone: +49 (0)6196-7777550 Fax: +49 (0)6196-7777559 E-mail: investor@uet-group.com Internet: www.uet-group.com ISIN: DE000A0LBKW6 WKN: A0LBKW Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt End of Announcement DGAP News-Service


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