DGAP-Adhoc: CLIQ Digital AG increases shareholding in subsidiary Red27Mobile Ltd
DGAP-Ad-hoc: Cliq Digital AG / Key word(s): Investment
CLIQ Digital AG increases shareholding in subsidiary Red27Mobile Ltd
15-Nov-2019 / 14:45 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.
Ad hoc announcement according to Section 17 MAR
CLIQ Digital AG increases shareholding in subsidiary Red27Mobile Ltd
Duesseldorf, 15 November 2019 - CLIQ Digital AG ("CLIQ Digital") today signed an agreement to increase the shareholdings in its subsidiary Red27Mobile Ltd ("Red27") from 51% to 80%. For this purpose, CLIQ Digital purchased an additional 29% of the shares of Red27. The selling shareholders, Richard Keeley and Alex Rooke, continue to hold 20% of the shares and remain co-directors of Red27, next to Luc Voncken and Ben Bos (both members of the Management Board of CLIQ Digital AG).
The transaction was implemented with economic effect as of 1 April 2019 and completed immediately after the signing of the contracts. The purchase price is financed from a mix of available cash, bank financing and the cash flow from operating activities of CLIQ Digital AG.
Red27, with headquarters in London UK, operates its business activities in EMEA and achieved a strong market position in the distribution of mobile content with a focus on entertainment and games. CLIQ Digital expects that the increase of its majority stake in Red27 will lead to a significant contribution to earnings in the future and will have a positive impact on the earnings per share.
Disclaimer:
This document contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of CLIQ Digital and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations and competition from other companies, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. CLIQ Digital does not assume any obligations to update any forward-looking statements.
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