DGAP-Adhoc: UET United Electronic Technology AG: raises Debt Capital and will buy back existing remaining minority stakes

2019. június 25., kedd, 10:54





DGAP-Ad-hoc: UET United Electronic Technology AG / Key word(s): Financing/Corporate Action


UET United Electronic Technology AG: raises Debt Capital and will buy back existing remaining minority stakes


25-Jun-2019 / 10:54 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




  • Financing Facility of EUR 12,500,000.00 debt for future growth

  • Repurchase of the remaining existing minority interests in the Group

  • Debt to Equity Conversion of existing liabilities

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces that a planned and announced round of financing has been completed. To finance further growth, a EUR 12.5 million loan with a term of three years was successfully placed. The new funds will be used to refinance existing liabilities as well as to finance working capital. The final closing of the transaction is scheduled for the end of June 2019.



Together with the repayment of existing financial liabilities, the UET Group will repurchase the last remaining minority interests in the Group in the form of a silent participation. The transaction furthermore intends to convert liabilities totaling EUR 3.2 million with a debt to equity swap through a capital increase. This includes the exercise of a conversion option that has existed since 2018. A corresponding agreement has been signed that still requires the final and formal implementation, which is planned until the end of July 2019.





Contact:

UET United Electronic Technology AG

Frankfurter Straße 80-82

D-65760 Eschborn



Sebastian Schubert

Investor Relations

Tel: + 49 (0) 6196 777755-0

E-Mail: investor@uet-group.com











25-Jun-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: UET United Electronic Technology AG

Frankfurter Straße 80-82

65760 Eschborn

Germany
Phone: +49 (0)6196-7777550
Fax: +49 (0)6196-7777559
E-mail: investor@uet-group.com
Internet: www.uet-group.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart
EQS News ID: 830317





 
End of Announcement DGAP News Service




830317  25-Jun-2019 CET/CEST







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