The Management Board of The Naga Group AG today resolved, with the approval of the Supervisory Board, to increase the Company's share capital by up to EUR 4,625,489.00 by issuing up to 4,625,489 new registered no-par value shares with a notional interest in the share capital of EUR 1.00 per share against cash contributions, making partial use of the existing authorised capital and excluding shareholders' subscription rights. The new shares are entitled to participate in profits from 1 January 2021.
A binding commitment of a leading strategic european Investor has already been received for the issue volume of EUR 30 million (corresponding to approx. 80 % of the shares offered); the remaining new shares will be offered to institutional investors in Germany and other European countries by way of a private placement.
The new shares are to be included in the existing listing in the Scale segment of the Frankfurt Stock Exchange without a prospectus. The capital increase will enable more dynamic growth, the expansion of the international shareholder base and an increase in the free float.
The transaction is being accompanied by Hauck & Aufhäuser Privatbankiers AG.