Berenberg

  • Land: Deutschland

Nachricht vom 26.02.2018 | 17:40

Corestate Capital Holding S.A.'s free float to be expanded to 63.61%

DGAP-News: Joh. Berenberg, Gossler & Co. KG / Key word(s): Miscellaneous

26.02.2018 / 17:40
The issuer is solely responsible for the content of this announcement.


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

PRESS RELEASE 26 February 2018

 

Corestate Capital Holding S.A.'s free float to be expanded to 63.61%

Ralph Winter, Founder of Corestate (also the "Company"), today announced that he followed the high demand from institutional investors and Corestate's ambition to increase liquidity in Corestate shares by launching an accelerated bookbuilding process to sell 2.08 million shares in Corestate (the "Transaction"). This represents about 9.75% of Corestate's issued share capital, resulting in Ralph Winter's remaining shareholding post transaction will be about 18%. Together with the other placement of today, Corestate Capital Holding S.A.'s free float is expanded to 63.61%.

Ralph Winter comments:

Corestate again exceeded its 2017 guidance with excellent numbers. The outlook for 2018 is promising and Corestate raised its financial forecast for 2018 (excluding possible further acquisitions). I am convinced that the recent high-quality hires to the management board will ensure that the Company will deliver an excellent performance in different market environments. But Corestate's share price is on average still 30% lower than the existing research price targets. To enable the share price to reflect this positive outlook and to achieve a valuation comparable to Corestate's peer group, the free float has to be expanded to more than 50%. For that reason, I have decided to increase liquidity in Corestate's shares by means of a placement to selected institutional long only investors. My long-term interest is to remain Corestate's largest shareholder and to benefit from the extraordinary upside potential of Corestate. To express my commitment and to underpin this approach I have signed a lock-up for 6 months.

Joh. Berenberg, Gossler & Co. KG ("Berenberg") will be acting as Sole Bookrunner in the Transaction. The Transaction is subject to certain customary conditions precedent.

The information was submitted for publication at 17:40 CET on 26 February 2018 by Ralph Winter.


Disclaimer

This publication does not constitute a public offer of securities in Germany. It is not for publication or distribution, directly or indirectly, in or into the United States of America. This publication does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in the United States of America or in any other jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of Corestate Capital Holding S.A. ("Corestate Capital") described herein have not been and will not be registered under the Securities Act, or the laws of any state, and may not be offered or sold within the United States of America, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable State laws. No public offering of any securities described herein will be made in the United States.

 

 



26.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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