UMT United Mobility Technology sells shares in UMT PEACHES Mobile GmbH and decides on non-cash capital increase to sustainably strengthen equity base
The Management Board of UMT United Mobility Technology AG („UMT AG“, GSIN: 528610/ ISIN: DE0005286108) today decided to completely sell all shares of UMT PEACHES Mobile GmbH, Munich. As part of the further development of the UMT platform, in future prepaid payment flows and services can be processed directly via the mobile payment and loyalty platform of UMT AG, so that the benefits and advantages of maintaining a separate portal are no longer given. In the first step of this transaction, UMT AG will exercise an option already granted to it to acquire the remaining shares in UMT PEACHES Mobile GmbH from the minority shareholder and subsequently sell 100% of the shares in UMT PEACHES Mobile GmbH to MayfairCapital, Gruenwald, as part of a special purpose entity (SPV).
In the past, the cooperation with the minority shareholder of UMT PEACHES Mobile GmbH was challenging and even led to conflicts with UMT PEACHES Mobile GmbH and between its shareholders, which were not conducive to the operating business. This has prompted UMT United Mobility Technology AG to exercise its option to acquire the remaining shares and to sell UMT PEACHES Mobile GmbH in its entirety to MayfairCapital. Erik Nagel, CIO of UMT United Mobility Technology AG, will temporarily take over the business of MayfairCapital to ensure the smooth transition and migration of the portal prelado. The parties have agreed not to disclose the purchase price. In this context, the deconsolidation of UMT PEACHES Mobile GmbH in the consolidated financial statements of UMT AG also takes place.
In addition, the Management Board of UMT United Mobility Technology AG today resolved, with the approval of the Supervisory Board, to increase the share capital of UMT AG excluding the shareholders’ subscription rights by making partial use of the existing Authorized Capital 2018/I. In this context, the share capital of UMT United Mobility Technology AG is to be increased from currently EUR 21,033,569.00 by EUR 2,500,000.00 to EUR 23,533,569.00 through the issue of 2,500,000 new no-par value bearer shares (ordinary shares) with a notional interest in the share capital of EUR 1.00 per share (the “new shares”) against contributions in kind. The issue price for each share is EUR 1.00 per new share. The new shares are to be fully subscribed by SWM Treuhand AG Wirtschaftsprüfungsgesellschaft by way of a private placement. The contribution to the new shares will not be made in cash but through the contribution of a loan receivable of EUR 2,500,000.00 from UMT AG by SWM Treuhand AG Wirtschaftsprüfungsgesellschaft. The contribution of the loan receivable is intended to significantly reduce the interest burden for the company, reduce liabilities to shareholders substantially without affecting liquidity and increase equity strategically. The conversion of these receivables from UMT AG into equity thus represents a very significant contribution to the sustained strengthening of the company’s capital base. This increases the equity ratio of UMT AG to over 95%. The Management Board and the Supervisory Board came to the conclusion within the framework of the resolution that the possibility of placing the shares at a price of EUR 1.00 per share is in the well-understood interests of the Company.