asknet AG plans to reduce share capitalMay 22, 2017
Inside information pursuant to Article 17 MAR.
Karlsruhe, May 22, 2017 – The Executive Board and the Supervisory Board of asknet AG (ISIN: DE0005173306, WKN: 517330) today decided to propose an ordinary capital reduction to the shareholders at the ordinary annual general meeting on 6 July 2017. The reduction of the share capital would allow the company to offset the loss posted for the period ended December 31, 2016 and to restructure its equity capital.
The proposal comprises a nominal reduction of the share capital in a 10:1 relation by a corresponding merger of shares. To achieve a ten-divisible number of shares, the company’s present share capital of EUR 5,094,283.00, which is divided into 5,094,283 registered shares, is initially to be reduced by EUR 3.00 to EUR 5,094,280.00 pursuant to section 237 paragraph 3 No. 1 of the German Stock Corporation Act (AktG). Subsequently, the share capital is to be reduced by EUR 4,584,852.00 to EUR 509,428.00 in accordance with sections 222 et seq. AktG. The amount of EUR 4,584,852.00 by which the capital is reduced, is to be used to offset the loss of EUR 3,682,137.13 posted for the period ended December 31, 2016, with the remaining amount of EUR 902,714.87 to be allocated to the capital reserve. There will be no repayment of share capital.
The reduction to eliminate the balance sheet loss as at December 31, 2016 is proportionate, the percentage share of shareholders in asknet AG does not change as a matter of principle.
The convocation of the Annual General Meeting scheduled for July 6, 2017, including the announcement of the full agenda, will follow shortly.
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