October 15, 2021, Karlsruhe (Germany) – asknet Solutions AG, a leading procurement, e-commerce and EdTech specialist, held today an Extraordinary General Meeting (EGM).
During the meeting, the Management Board reaffirmed the company’s Three-Pillar Strategy, including a clear roadmap for the years 2021 through 2023. In line with the strategy, asknet pursues a bold expansion of its Academics business in the education sector, and a rapid repositioning of the eCommerce Solutions business unit. The third pillar assumes growth in the New Pipeline area, where the company develops innovative solutions and services, and builds strategic partnerships in the dynamic EdTech market.
“The execution of our Three-Pillar Strategy, as a clear and material concept to create change and growth for the company, is progressing well. The recently announced joint project with the Swiss SWITCH foundation is a prime example of our focus on consistent implementation of our strategy. It exemplifies the expansion into new and attractive education markets and our emphasis on high-margin projects and services. The forthcoming capital increase will create a sound financial basis allowing us to further accelerate the implementation of the strategy”, says Christian Herkel, CEO of asknet Solutions AG, and he further adds: “We are also seeing a lot of progress in the eCS Business Unit, starting with the technology upgrade to Amazon Web Services, reinforced management team, and a new website, which will be the starting point for new clients acquisition initiatives.”
The shareholders followed the proposal of the Management Board and the Supervisory Board to increase the share capital against cash contributions by EUR 1,961,295 with statutory subscription right at a subscription price of EUR 3.50 per share. The net issue proceeds will amount to EUR 6.8 million and are secured by two investors who have committed to subscribe for any and all shares not subscribed for by current shareholders in the course of the subscription offer.
The proceeds are planned to be invested as follows:
The subscription offer will be carried out without a prospectus but with a securities information sheet (Wertpapierinformationsblatt) that needs to be approved by BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht). The management expects the capital increase to be completed before the end of this year.
Florent Guillomeau, CFO of asknet Solutions AG: “We have a clear plan to invest the issue proceeds and are determined to create value for the company and our shareholders. Regarding the current year, I am confident that we will deliver improved business earnings in the second half. For the next two years, we confirm our targets of growing sales revenues, with break-even in 2022 and clearly positive earnings in 2023.”
Following the resignation of Manfred Danner, with effect from the end of the Extraordinary General Meeting, Christian Lagerling was elected as a new member of the Supervisory Board of asknet Solutions AG. After the Extraordinary General Meeting, the Supervisory Board elected him as its new Chairman. Christian Lagerling, CEO of Beluca Ventures LLC, USA, is an experienced entrepreneur and technology investor and holds a degree in finance and economics from the London School of Economics. Over the past 25 years, he has founded and built a number of highly successful companies in the technology and financial sectors. Among others, he is a co-founder of Dicopay, a Stockholm-based fintech company for billing services, and a co-founder of GP Bullhound, a leading London-based technology advisory and investment firm.
At the EGM, the Executive Board also announced, in accordance with Section 92 (1) of the German Stock Corporation Act (AktG), that a loss of more than half of the capital stock had occurred. This had been the initial legal reason for convening this shareholders' meeting. The capital increase approved by the EGM will provide the company with a strong equity base to grow profitably in the coming years.
All items on the agenda, including the creation of new authorized capital rights, were approved by a large majority of shareholders at the Extraordinary General Meeting. The participation quota represented 80.38% of the share capital. The final voting results, as well as the management board presentation, will be available on the asknet Solutions AG website at https://asknet-solutions.com/investors/annual-general-meetings.html.
About asknet Solutions AG
asknet Solutions AG is a renowned procurement, e-commerce and EdTech specialist headquartered in Karlsruhe, Germany. The company offers software procurement and distribution for European universities and is the undisputed market leader in Germany (Academics Business Unit). The asknet portfolio includes a wide range of high-quality software applications for the academic sector, ranging from IBM SPSS to Adobe Creative Cloud. By continuously expanding its portfolio beyond software procurement, through partnerships with leading software manufacturers such as Blackboard and Dell, asknet aims to become the leading IT service provider in the European education market. The company also develops and manages online stores for digital and physical products worldwide (eCommerce Solutions Business Unit). Leading global publishers such as Cyberlink and Steinberg rely on asknet's e-commerce expertise to distribute their products in more than 190 countries. asknet Solutions AG is listed on the Frankfurt Stock Exchange (Ticker: ASKN; ISIN: DE000A2E3707).
Contact
Magda Gajny
+49(0)721/96458-6116
investors@asknet.com