+++ Press release +++
SGT German Private Equity completes buyback
of 542,700 own shares
Frankfurt/Main, 16 October 2020 – SGT German Private Equity, a listed private equity asset manager, closes its share buyback. As part of the public share buyback tender offer published 27 August 2020 on the company’s website and in the German Federal Gazette, a total of 4.6 million shares have been tendered to SGT German Private Equity GmbH & Co. KGaA until the end of the acceptance period on 13 October 2020 (12:00 pm MEZ). The management assumes that the shareholders have tendered more shares than they actually want to sell, because they anticipated a pro rata allocation, and that some shareholders want to trade for arbitrage with their order, hence they want to buy back the shares sold through the share buyback tender offer at a lower price in the stock market.
The repurchase offer related to the acquisition of up to 542,700 registered no-par-value shares of SGT German Private Equity GmbH & Co. KGaA in exchange for a cash payment of EUR 2.00 per share. As the total number of shares tendered in the offer exceeds 542,700, all acceptance declarations for up to 100 shares will be considered fully while declarations above will be considered pro rata in accordance with section 3.5 of the offer document of the share buyback, for every 100 tendered shares on average 12 shares at a price of 2.00 Euro are acquired.
The tendered shares, for which the received acceptance declarations could be taken into account are expected to be transferred on 21 October 2020 from the customers’ depository accounts against payment of the offered price. Shares for which the declaration of acceptance could not be taken into account due to the pro rata consideration, remain in the customer depository accounts and are reversed to the original security identification number (WKN) A1MMEV or ISIN DE000A1MMEV4 which is listed in the scale segment of the open market at Frankfurt Stock Exchange.
After completion of the share buyback, SGT German Private Equity owns 542,700 own shares (5% of the companies’ registered share capital).
The management intends to issue share buyback tender offers on a regular basis in the future and fund these from the expected sustainable, predictable profits and cash inflows from the asset management activities of its wholly owned subsidiary SGT Capital Pte. Ltd.
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