+++ Press release +++
SGT German Private Equity –
Allocation of the profit from the 2021 financial year
- Tender offer for share buyback planned
- Acquisition of a stake in Utimaco
Frankfurt/Main, 9 June 2022 – SGT German Private Equity GmbH & Co. KGaA (SGF), a listed Private Equity asset manager, intends to make a voluntary public share buyback tender offer to its shareholders in the volume of 6.0m EUR before the end of the third quarter of 2022. The volume corresponds to 0.10 EUR per share. At the current share price, this would result in a volume of up to 4.0m shares and just under 7% of the outstanding shares.
SGT German Private Equity already holds 2,719,200 treasury shares. This equals 4.5% of its share capital.
Furthermore, the Company has invested 6m EUR in one of the co-investment funds that are managed by its wholly owned subsidiary SGT Capital Pte. Ltd. which in turn has a stake in Utimaco. This equals another 0.10 EUR per share. Utimaco is a strongly growing, highly profitable global market leader for high-end cyber security software, co-headquartered in Aachen, Germany and Campbell, California, USA. Utimaco has more than 470 employees and generates a three-digit million revenue. SGT German Private Equity expects its equity investment to generate proceeds in the range of 15 to 25m EUR within five years. Herein is the press release of SGT Capital for the acquisition of Utimaco:
Management is refraining from proposing a dividend for the fiscal year 2021, as a share buyback appears to be advantageous at the current share price level from a tax point of view. Shareholders who tender shares at a price that is not or only insignificantly higher than their purchase price will receive the sales proceeds almost without tax deduction, whereas capital gains tax on the full amount would have to be withheld in the case of a dividend.
Going forward the Company plans to conduct a share buyback and/or dividend payment each financial year beginning in 2022 for the appropriation of earnings, whilst retaining a portion of earnings to invest in Private Equity opportunities generated by its subsidiary SGTPTE.
Investor Relations Contact
+49 170 302 8833
About SGT German Private Equity
SGT German Private Equity is a Germany-based listed private equity asset manager with registered office in Frankfurt/Main. Its 100% subsidiary SGT Capital Pte. Ltd. is a global alternative investment and private equity asset manager headquartered in Singapore.
For its new, sector-agnostic private equity fund SGT Capital Fund II with a geographical focus on Europe and North America (fund lifetime ten years), SGT is aiming for a target fundraising volume of 1 to 3 billion USD. The management team has many years of senior experience at renowned addresses – global private equity houses, management consultancies and investment banks.
From its origin as a leading German venture capital provider under the German Startups Group brand SGT German Private Equity also holds a heritage portfolio of minority stakes in some promising German Startups.