DEAG: Convertible bond 2016/2019 fully converted into shares
Berlin, 4 July 2019 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, (ISIN: DE000A0Z23G6 | Ticker Symbol: ERMK), has announced that all convertible bonds (ISIN DE000A2AAX86) with a total par value of EUR 4,300,000.00 have been converted into new no-par value ordinary bearer shares of DEAG (the “shares”). This equates to 1,228,553 shares on the basis of the conversion ratio defined in the bond terms. In today’s mandatory conversion, an additional 571,420 shares were generated, resulting in a new total of 19,625,976 shares.
DEAG successfully issued a convertible bond with a total nominal amount of EUR 5.7 million and an interest rate of 6.00% in June 2016 as part of a private placement. After the redemption of EUR 1.4 million in June 2018, convertible bonds with a nominal value of EUR 4.3 million and a maturity date of 30 June 2019 were still outstanding.
The funds of EUR 4.3 million released by the conversion will be used by the company to further drive internal and external growth. The Executive Board of DEAG would like to thank all investors for their trust.
DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organises a broad range of live entertainment events and concerts. As a Live Entertainment service company with an integrated business model DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform ‘MyTicket’ for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes around 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket.
Founded in Berlin in 1978 and listed since 1998, DEAG’s core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG’s own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.