Public disclosure of inside information according to article 17 MAR
CAG International AG: Disclosure of inside information pursuant to Article 17(1) (EU) No 596/2014 on market abuse
Baar (pta030/23.06.2022/15:34 UTC+2)
Baar, Switzerland, Disclosure of inside information pursuant to Article 17(1) of Regulation (EU) No 596/2014 on Market Abuse (Market Abuse Regulation)
CAG International AG ("Company"), whose shares are included in trading on the ViennaMTF, segment direct market, of the Vienna Stock Exchange under ISIN CH0505534542 (ticker symbol: CAG), announces the following: In connection with a company acquisition, the Company incurred long term liabilities and trade payables. As these liabilities have now fallen due, the Board of Directors of the Company has negotiated a settlement with the creditors to discharge all of these liabilities by a partial debt-forgiveness of the creditors and with the remaining amounts to be offset against the issue of new shares, also in order to minimise the strain on the Company's liquidity.
The Board of Directors of the Company has therefore resolved on 23 June 2022 to convert the outstanding liabilities in accordance with the above paragraph into new shares of the Company. On that day, a total of 3,025,615 new registered shares of the Company with a nominal value of CHF 0.12 each and an issue price of CHF 0.15 each (i.e. at a total issue price of CHF 453,842.25) were thus created through the conversion of debt into share capital. The new shares have been created under the authorized share capital of the Company, which has been already approved by the shareholders (art. 3b of the Articles of Association).
The subscription rights were cancelled and allocated to the respective creditors by the Board of Directors in accordance with Art. 3b of the Articles of Association in order to ensure a quick and flexible raising of capital, which probably could not be achieved without excluding the statutory subscription rights of the existing shareholders and which is also in connection with the aforementioned company acquisition.
For the newly created 3,025,615 registered shares of the Company with a nominal value of CHF 0.12 each, admission to trading on the ViennaMTF, Segment direct market, will be applied for as soon as possible.
The Company refers shareholders and potential investors to its website, in particular to the information and documents published in the Investor Relations section, for information about the Company (https://www.caginternationalag.com/investor-relations). (end)
Sender: CAG International AG
Zugerstrasse 74
6340 Baar
Switzerland
Contact person: Kurt Larsson
E-mail: investors@caginternationalag.com
Website: www.caginternationalag.com
Stock exchanges: Vienna MTF in Vienna
ISIN(s): CH0505534542 (share)
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Emitter: |
CAG International AG Zugerstrasse 72 6340 Baar Switzerland |
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Contact Person: | Hans Amell | |
E-Mail: | info@caginternationalag.com | |
Website: | www.caginternationalag.com | |
ISIN(s): | CH0505534542 (Share) | |
Stock Exchange(s): | Vienna Stock Exchange (Vienna MTF) |