Information  X 
Enter a valid email address
  Print          More announcements

Monday 10 January, 2022

Schweizer Electronic AG

Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

DGAP Related Party Transactions announcement: Schweizer Electronic AG / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
Schweizer Electronic AG: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

10.01.2022 / 16:02
Dissemination of a Related Party Transactions announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Schweizer Electronic AG: Publication of significant transactions with related parties according to § 111c AktG (the German Stock Corporation Act)

Schramberg, January 10, 2022: Schweizer Electronic AG, its 100% subsidiary, Schweizer Electronic (Jiangsu) Co., Ltd. based in Jiangsu / China ("SEC") and WUS Printed Circuit (Kunshan) Co., Ltd. based in Kunshan / China ("WUS") concluded a subscription agreement on January 10th, 2022.

In the Subscription Agreement, the parties agreed, among other things, that WUS will subscribe and acquire new shares in the SEC with a total nominal value of EUR 7,500,000 as part of an increase in the share capital of the SEC, which is expected to be resolved at the end of January 2022. Schweizer Electronic AG waives its subscription right. After the capital increase has been carried out, WUS will hold around 12.8% of the share capital of the SEC. The capital increase takes place against a cash contribution. The issue price for the new shares is CNY 75,000,000.00 in total (this corresponds to approximately EUR 10.5 million). WUS will pay this amount to the SEC in cash. The Due Diligence was performed by an international audit company. The management is convinced, that the valuation of Schweizer Electronic China of a little over EUR 80 million is appropriate.

WUS Printed Circuit (Kunshan) holds 19.74% of the shares in Schweizer Electronic AG. Mr Chris WU is a member of the supervisory board of Schweizer Electronic AG and at the same time a member of the management of WUS and a family member of a WUS controlling shareholder. WUS is therefore a related company of Schweizer Electronic AG according to § 111a (1) sentence 2 AktG.

The Supervisory Board of Schweizer Electronic AG approved the conclusion of the Subscription Agreement and the measures required to implement it on January 10, 2022. The agreement still requires the approval of the WUS shareholders' meeting in order to be effective.



10.01.2022 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Germany
Internet: www.schweizer.ag

 
End of News DGAP News Service

1266823 10.01.2022 

fncls.ssp?fn=show_t_gif&application_id=1266823&application_name=news&site_id=financialexpress

a d v e r t i s e m e n t