PRESS RELEASE: asknet Solutions AG: the Extraordinary General Meeting approves a capital increase to create a solid financial base and allow strategic investments

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DGAP-News: asknet Solutions AG / Keyword (s): AGA / AGE / Capital increase asknet Solutions AG: The extraordinary general meeting approves the capital increase to create a solid financial base and enable strategic investments 2021-10-15 / 17:05 The issuer is solely responsible for the content of this announcement.

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asknet Solutions AG: The Extraordinary General Meeting approves a capital increase to create a solid financial base and enable strategic investments. The Extraordinary General Meeting approves the capital increase with issue proceeds of 6.8 million euros guaranteed by two investors. The Management Board reaffirms its three-pillar strategy and expects an improvement in commercial performance in the second half of the year. Technology entrepreneur, investor and advisor Christian Lagerling becomes the new Chairman of the Supervisory Board

October 15, 2021, Karlsruhe (Germany) – asknet Solutions AG, a leading specialist in purchasing, e-commerce and EdTech, today held an Extraordinary General Meeting (EGM).

During the meeting, the board reaffirmed the company’s three-pillar strategy, including a clear roadmap for the years 2021 to 2023. In line with the strategy, asknet continues to boldly expand its business academics in the education sector; and a rapid repositioning of the Ecommerce Solutions business unit. The third pillar assumes growth in the New Pipeline area, where the company develops innovative solutions and services, and builds strategic partnerships in the dynamic EdTech market.

“The implementation of our three-pillar strategy, as a clear and material concept to create change and business growth, is progressing well. The recently announced joint project with the Swiss foundation SWITCH is a prime example of our focus on the consistent implementation of our strategy. It illustrates the expansion into attractive new education markets and our focus on high margin projects and services. The next capital increase will create a solid financial base allowing us to further accelerate the implementation of the strategy, ”said Christian Herkel, CEO of Asknet Solutions AG, and added:“ We are also seeing a lot of progress in the process. eCS business unit, starting with the technology upgrade to Amazon Web Services, a strengthened management team and a new website, which will be the starting point for new customer acquisition initiatives. ”

The shareholders followed the proposal of the Management Board and the Supervisory Board to increase the share capital against cash contributions of EUR 1,961,295 with statutory subscription rights at a subscription price of EUR 3.50 per share. The net proceeds of the issue will amount to 6.8 million euros and are guaranteed by two investors who have undertaken to subscribe to all the shares not subscribed by the current shareholders as part of the subscription offer.

It is expected that the proceeds will be invested as follows:. 75% to be used for strategic investments and acquisitions in academic affairs and new pipelines. 15% to be used for technology enhancements, additional resources and marketing activities within the Ecommerce Solutions business. 10% to be used as a liquidity reserve and for working capital optimization

The subscription offer will be made without a prospectus but with a securities information sheet (Wertpapierinformationsblatt) which must be approved by the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht). Management expects the capital increase to be completed before the end of this year.

Florent Guillomeau, CFO of Asknet Solutions AG: “We have a clear plan to invest the proceeds of the issue and are determined to create value for the company and our shareholders. second semester. For the next two years, we confirm our sales growth targets, with a breakeven point in 2022 and a clearly positive result in 2023. ”

Following the resignation of Manfred Danner, with effect at the end of the Extraordinary General Meeting, Christian Lagerling was elected as a new member of the Supervisory Board of Asknet Solutions AG. At the end of the Extraordinary General Meeting, the Supervisory Board elected him the new Chairman. Christian Lagerling, CEO of Beluca Ventures LLC, USA, is an experienced entrepreneur and technology investor and holds a degree in finance and economics from the London School of Economics. Over the past 25 years, he has founded and built a number of very successful companies in the technology and finance industries. He is, among other things, co-founder of Dicopay, a Stockholm-based fintech company for billing services, and co-founder of GP Bullhound, a leading London-based technology investment and advisory firm.

At the EGM, the board of directors also announced, in accordance with Section 92 (1) of the German Joint Stock Company Act (AktG), that a loss of more than half of the share capital had occurred. It was the first legal reason for convening this general assembly. The capital increase approved by the EGM will provide the company with a solid capital base to grow profitably in the years to come.

All the items on the agenda, including the creation of new authorized rights to capital, were approved by a large majority of shareholders at the Extraordinary General Meeting. The participation share represented 80.38% of the share capital. The final results of the vote, as well as the presentation of the board of directors, will be available on the website of Asknet Solutions AG under https://asknet-solutions.com/investors/annual-general-meetings.html.

About Asknet Solutions AG asknet Solutions AG is a leading procurement, e-commerce and EdTech specialist headquartered in Karlsruhe, Germany. The company offers the purchase and distribution of software for European universities and is the undisputed market leader in Germany (Academics Business Unit). Asknet’s portfolio includes a wide range of high-quality software applications for the academic sector, ranging from IBM SPSS to Adobe Creative Cloud. By continually expanding its portfolio beyond software procurement, through partnerships with leading software manufacturers such as Blackboard and Dell, asknet aims to become the leading provider of IT services in the European education market. The company also develops and operates online stores for digital and physical products around the world (eCommerce Solutions business unit). Leading global publishers such as Cyberlink and Steinberg rely on Asknet’s e-commerce expertise to distribute their products in more than 190 countries. asknet Solutions AG is listed on the Frankfurt Stock Exchange (Ticker: ASKN; ISIN: DE000A2E3707). Contact Magda Gajny +49 (0) 721 / 96458-6116 [email protected] https://asknet-solutions.com/

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2021-10-15 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this advertisement. DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases. Archives on www.dgap.de

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Language:     English 
Company:      asknet Solutions AG 
              Vincenz-Priessnitz-Str. 3 
              76131 Karlsruhe 
              Germany 
Phone:        +49 (0)721 / 964 58-0 
Fax:          +49 (0)721 / 964 58-99 
E-mail:       [email protected] 
Internet:     asknet-solutions.com 
ISIN:         DE000A2E3707 
WKN:          A2E370 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich, Stuttgart 
EQS News ID:  1241227 
 
End of News   DGAP News Service 
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1241227 2021-10-15

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October 15, 2021 11:06 am ET (3:06 pm GMT)

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