EQS Related Party Transactions announcement: ABOUT YOU Holding SE
/ Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
ABOUT YOU Holding SE (ISIN DE000A3CNK42): Release according to section 111c of the German Stock Corporation Act (AktG) with the aim of a Europe-wide distribution Hamburg, May 11, 2023 // ABOUT YOU Holding SE ("ABOUT YOU" or "Company"), one of Europe's fastest growing e-commerce companies, has on May 11, 2023 created the conditions for a credit facility of up to EUR 97.5 million by entering into corresponding contractual agreements with its main shareholders Otto (GmbH & Co. KG), Benjamin Otto and Aktieselskabet af 12.6.2018 as lenders with the approval of the Supervisory Board pursuant to section 111b (1) AktG. The credit facility serves as a back-up for liquidity steering and can be used to finance general business activities. The main shareholders jointly hold (partly via investment companies) 64.74% of the share capital and voting rights of ABOUT YOU due to attribution facts and therefore each is a related party within the meaning of section 111a (1) AktG. Except for the respective loan value, the agreements contain identical conditions and are structured as so-called subordinated term loans with a term of two years. ABOUT YOU has the right to call loan proceeds (pro rata in each case) in freely determinable tranches within the term of the loan and to repay them (pro rata in each case) without prepayment interest even before the end of the term of the loan. A fixed interest rate of 12% p.a. was agreed in each case, which is only payable on called tranches; for non-called tranches a commitment fee of 2% p.a. had been agreed. Based on available market data, the terms and conditions of the financing stand up to an arm's length comparison; in particular, the loan agreements contain grounds for termination are comparable to standard market provisions for bank financing. ABOUT YOU was supported by independent external experts in the preparation of the contracts. Hamburg, May 11, 2023 The Management Board
11.05.2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | ABOUT YOU Holding SE |
Domstraße 10 | |
20095 Hamburg | |
Germany | |
Internet: | https://corporate.aboutyou.de |
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1630943 11.05.2023 CET/CEST