+++ Ad-hoc announcement +++
German Startups Group: Management resolves buyback of own shares through the stock exchange
Berlin, 20 April 2018 – The managing partner of German Startups Group GmbH & Co. KGaA, a leading venture capital provider in Germany and Berlin-based digital agency with 140 employees, has decided today to implement a share buyback program based on the authorization of the company’s Annual General Meeting of 23 March 2016. The company will buy back up to 250,000 own shares with a total purchase price (excluding incidental transaction charges) of up to 500 TEUR (whichever value or deadline is reached earlier), between 1st May 2018 and 15th June 2018. If the full volume is reached, that is 2.1% of the share capital. The own shares to be acquired are to be retired. The buyback will be executed through the stock exchange. The share repurchases will be carried out by a bank. The price per share paid by the company may neither exceed the Xetra closing stock market price per share by more than 5% nor fall below such market price by more than 5%. The company will not purchase more than 25% of the average daily turnover in the shares on the venue where the purchases of shares are made on any trading day. The average daily turnover is calculated based on the average daily volume traded during the 10 trading days preceding the date of the respective purchase.
CEO Christoph Gerlinger: „With the share buyback program we start returning parts of our capital gains to our shareholders.”
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German Startups Group
German Startups Group – We Love Startups!
German Startups Group is a listed investment company and digital agency based in Berlin that focuses on young, fast-growing companies, so-called startups. The company acquires majority and minority shareholdings mainly by providing venture capital. Its focus is on companies whose products or business models include a disruptive innovation, allow for a high degree of scalability to be expected, and in which it has a great deal of trust in the entrepreneurial abilities of the founders. The geographical focus is on the German-speaking region. Since it commenced with operations in 2012, German Startups Group has in its opinion built up a diversified portfolio of investments in young companies and become the most active private venture capital investor in Germany since 2012 (CB Insights 2015, PitchBook 2016). 20 of the 37 minority stakeholdings in operationally active companies are of particular significance to German Startups Group and together comprise roughly 90% of the total value of all 37 active minority stakeholdings (per 31 December 2017). The 10 core holdings alone make up two thirds of the value of all active minority stakeholdings. According to German Startups Group, its investment portfolio reflects a cross-section of promising German startups of various maturity stages (“Seed,” “Early” and “Growth Stage,” by German Startups Group’s own definition) and includes some of the most successful and best known German startups.
More information at https://www.sgt-germanpe.com/.