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22.06.2016 10:46:06
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DGAP-News: Sino-German United AG
DGAP-News: Sino-German United successfully completes capital increase - Launch of new business
- Implementation of the resolutions adopted by the General Meeting on 15 January 2016
- Capital increase from 0.3 million Euros to 1.8 million Euros
- Start-up financing safeguard
- Appointment of additional Board Member
- Launch of new business
Munich, 21 May 2016. Sino-German United AG has successfully completed the increase of share capital on 9 June 2016. The company has a focus on import and export as well as further consulting services regarding China and Germany and is listed in the General Standard. The resolution of the capital measure was adopted by the General Meeting on 15 January 2016 and has thus set the stage for the prompt launch of the new business.
Shareholders' trust rewarded
The capital measure is designed to furnish the company with the necessary capital. The share capital of the Sino-German United AG (SGU) was increased from 304,488 Euros to 1,800,000 Euros. The subscription rights were not excluded. The subscription price of the capital measure, which was carried out between 29 April and 12 May, was 1.05 Euros per share. To reward the trust of the shareholders in the company, a deliberately low subscription price was chosen in spite of the great potential for the future development of the stock, which was below the market price at that time. Thus the exercise of subscription rights to all shareholders, which entitled them to acquire six new shares per existing share, became possible. No subscription rights were traded.
Major shareholder continues to promote Sino-German United
As main shareholder of the company Sino-German Handels- und Beratungs- GmbH (SGE) participated in the capital increase in full and has claimed further shares in context of a private placement in connection with the subscription period. Thus SGE holds now a 79.52% (formerly 53, 80%) share of Sino-German United AG. This indicates the major shareholder is willing to promote the company consistently. The shares of SGU are listed under the security code number SGU888 in the General Standard of the German stock exchange.
First trade agreement with famous German brewery completed
"The successful capital increase puts us in a solid position for our business operations. This April, we have reached our first trade agreement with a renowned German beer company. First purchases and resale to the Peoples Republic of China were made successfully. Our target this year is to use the first profits from the transactions for balancing our costs incurred. We do not expect a profit in fiscal year 2016. For 2017 and the subsequent years, we aim to be profitable", says the Chairwoman of the Management Board of Sino-German United AG, Mrs. Peng Pan.
Trading business between Germany and China has kicked off in second quarter of 2016
The funds raised through the capital increase will serve as start-up financing for the forthcoming activities of the company. To guide business operations, the Supervisory Board unanimously decided at its meeting on 29 March 2016 to appoint Mr. Philipp Birnstingl as an additional member to the Company's Management Board with effect from 29 March 2016. In his function as Chief Operating Officer, Mr. Birnstingl is responsible for the management of the company's operating business. The Sino-German United AG already conducted its first business buying German premium beer and reselling it to Chinese beer distributors. The SGU will henceforth operate in different fields of business in economic cooperation between China and Germany. The business purpose of the SGU includes, among others, import and export as well as commodity trading between China and Germany. For the time being, the focus is on trading in products such as premium beers, food products, mechanical devices and building materials.
The SGU has already generated its first sales revenue in 2016. The objective is to generate profit from the resulting trade margins. However, notable profits are not yet to be expected in the current financial year due to the necessary launching costs. The Sino-German United strives to become profitable at sales above the break-even point in the financial year 2017.
For further details, as well as up-to-date information on Sino-German United AG, please visit the company website: www.sgu-ag.de
About Sino-German United AG
The Sino-German United AG (SGU) is located in Munich, Germany. The main business objects of the company in the future will be import and export as well as general trade between China and Germany. Potential products are German beers, food products, mechanical equipment and construction materials. Further business objects are the organization of trade fairs and conferences as well as the provision of consulting services to German and Chinese companies in terms of foreign investments and HR services.
The share of SGU is listed in the General Standard at Frankfurt Stock Exchange with the new securities identification number SGU888 and the ISIN DE000SGU8886 and is furthermore traded in the open market at the stock exchanges in Berlin-Bremen, Düsseldorf and Stuttgart. At present, 20.48% of the shares are in free float while 79.52% of the shares are held by Sino- German Ecopark Handel- und Beratungs GmbH.
Forward-looking statement disclaimer
Any expressed forecasts or expectations or included statements regarding the future in this press release, may involve known or unknown risks and uncertainties. There is no guarantee given for the correctness of any statements and expectations. The actual outcome and development may deviate significantly. The company assumes no obligations to update or revise the forward-looking statements.
Contact: Sino-German United AG Philipp Birnstingl Maximilianstraße 54 80538 München Tel: +49 89 2388 6846 Fax: +49 89 2388 6848 info@sgu-ag.de
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22.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: Sino-German United AG Maximilianstraße 54 80538 München Germany Phone: +49 89 2388 6846 Fax: +49 89 2388 6848 E-mail: info@sgu-ag.de Internet: www.sgu-ag.de ISIN: DE000SGU8886 WKN: SGU888 Listed: Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
473417 22.06.2016
DGAP-News: Sino-German United AG / Key word(s): Capital Increase
Sino-German United successfully completes capital increase - Launch of new
business
22.06.2016 / 10:46
The issuer is solely responsible for the content of this announcement.
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Press release of the Sino-German United AG
Sino-German United Successfully Completes Capital Increase
- Implementation of the resolutions adopted by the General Meeting on 15 January 2016
- Capital increase from 0.3 million Euros to 1.8 million Euros
- Start-up financing safeguard
- Appointment of additional Board Member
- Launch of new business
Munich, 21 May 2016. Sino-German United AG has successfully completed the increase of share capital on 9 June 2016. The company has a focus on import and export as well as further consulting services regarding China and Germany and is listed in the General Standard. The resolution of the capital measure was adopted by the General Meeting on 15 January 2016 and has thus set the stage for the prompt launch of the new business.
Shareholders' trust rewarded
The capital measure is designed to furnish the company with the necessary capital. The share capital of the Sino-German United AG (SGU) was increased from 304,488 Euros to 1,800,000 Euros. The subscription rights were not excluded. The subscription price of the capital measure, which was carried out between 29 April and 12 May, was 1.05 Euros per share. To reward the trust of the shareholders in the company, a deliberately low subscription price was chosen in spite of the great potential for the future development of the stock, which was below the market price at that time. Thus the exercise of subscription rights to all shareholders, which entitled them to acquire six new shares per existing share, became possible. No subscription rights were traded.
Major shareholder continues to promote Sino-German United
As main shareholder of the company Sino-German Handels- und Beratungs- GmbH (SGE) participated in the capital increase in full and has claimed further shares in context of a private placement in connection with the subscription period. Thus SGE holds now a 79.52% (formerly 53, 80%) share of Sino-German United AG. This indicates the major shareholder is willing to promote the company consistently. The shares of SGU are listed under the security code number SGU888 in the General Standard of the German stock exchange.
First trade agreement with famous German brewery completed
"The successful capital increase puts us in a solid position for our business operations. This April, we have reached our first trade agreement with a renowned German beer company. First purchases and resale to the Peoples Republic of China were made successfully. Our target this year is to use the first profits from the transactions for balancing our costs incurred. We do not expect a profit in fiscal year 2016. For 2017 and the subsequent years, we aim to be profitable", says the Chairwoman of the Management Board of Sino-German United AG, Mrs. Peng Pan.
Trading business between Germany and China has kicked off in second quarter of 2016
The funds raised through the capital increase will serve as start-up financing for the forthcoming activities of the company. To guide business operations, the Supervisory Board unanimously decided at its meeting on 29 March 2016 to appoint Mr. Philipp Birnstingl as an additional member to the Company's Management Board with effect from 29 March 2016. In his function as Chief Operating Officer, Mr. Birnstingl is responsible for the management of the company's operating business. The Sino-German United AG already conducted its first business buying German premium beer and reselling it to Chinese beer distributors. The SGU will henceforth operate in different fields of business in economic cooperation between China and Germany. The business purpose of the SGU includes, among others, import and export as well as commodity trading between China and Germany. For the time being, the focus is on trading in products such as premium beers, food products, mechanical devices and building materials.
The SGU has already generated its first sales revenue in 2016. The objective is to generate profit from the resulting trade margins. However, notable profits are not yet to be expected in the current financial year due to the necessary launching costs. The Sino-German United strives to become profitable at sales above the break-even point in the financial year 2017.
For further details, as well as up-to-date information on Sino-German United AG, please visit the company website: www.sgu-ag.de
About Sino-German United AG
The Sino-German United AG (SGU) is located in Munich, Germany. The main business objects of the company in the future will be import and export as well as general trade between China and Germany. Potential products are German beers, food products, mechanical equipment and construction materials. Further business objects are the organization of trade fairs and conferences as well as the provision of consulting services to German and Chinese companies in terms of foreign investments and HR services.
The share of SGU is listed in the General Standard at Frankfurt Stock Exchange with the new securities identification number SGU888 and the ISIN DE000SGU8886 and is furthermore traded in the open market at the stock exchanges in Berlin-Bremen, Düsseldorf and Stuttgart. At present, 20.48% of the shares are in free float while 79.52% of the shares are held by Sino- German Ecopark Handel- und Beratungs GmbH.
Forward-looking statement disclaimer
Any expressed forecasts or expectations or included statements regarding the future in this press release, may involve known or unknown risks and uncertainties. There is no guarantee given for the correctness of any statements and expectations. The actual outcome and development may deviate significantly. The company assumes no obligations to update or revise the forward-looking statements.
Contact: Sino-German United AG Philipp Birnstingl Maximilianstraße 54 80538 München Tel: +49 89 2388 6846 Fax: +49 89 2388 6848 info@sgu-ag.de
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22.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: Sino-German United AG Maximilianstraße 54 80538 München Germany Phone: +49 89 2388 6846 Fax: +49 89 2388 6848 E-mail: info@sgu-ag.de Internet: www.sgu-ag.de ISIN: DE000SGU8886 WKN: SGU888 Listed: Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
473417 22.06.2016
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