DGAP-News: HYPOPORT SE: Successful conversion of Hypoport AG into Hypoport SE
DGAP-News: HYPOPORT SE
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HYPOPORT SE: Successful conversion of Hypoport AG into Hypoport SE
07.04.2020 / 07:57
The issuer is solely responsible for the content of this announcement.
Change of corporate form
Successful conversion of Hypoport AG into Hypoport SE
Berlin, 7 April 2020: Following the entry of the new corporate form in the commercial register, the conversion of Hypoport AG into a European Company (Societas Europaea, SE) has now been completed.
The preparatory steps required for the conversion to take effect included a resolution by the Management Board, the consent of the Supervisory Board, an Annual Shareholders' Meeting in January 2020 and a procedure to formalise the participation of employees in the future company.
Hypoport's intention with the creation of this European corporate form is to change the structures of the Group to formally reflect the fact that it now includes non-German companies. At the same time, the change of form should enable the Hypoport Group to put in place efficient decision-making processes that will allow it to maintain its current growth momentum as the structure of the Group expands.
Ronald Slabke, Chief Executive Officer of Hypoport SE, is delighted with the successful conversion: "The SE is the corporate form of the future. Its uniform rules and standards will make it easier for a company like Hypoport to establish and expand subsidiaries and branches in European Union member states. This is not primarily about offering our platforms and services in other countries in the near future. But some of the companies we have taken over in recent years had foreign subsidiaries that we have now also acquired, and we want to continue expanding them as part of the Hypoport Group. The European Company legal form will help us to do this."
The rights of shareholders will continue to apply unchanged following the change of corporate form. The dual board system consisting of a management board and a supervisory board with a monitoring function will be retained and the company will remain listed as an SDAX constituent. Upon completion of the share exchange, all shareholders will have the same number of shares in Hypoport SE as they held in Hypoport AG prior to the conversion.
About Hypoport SE
Hypoport SE is headquartered in Lübeck (Germany) and is the parent company of the Hypoport Group. The Group is a network of technology companies for the credit, real-estate and insurance industries with a workforce of approx. 2,000 employees. It is grouped into four segments: Credit Platform, Private Clients, Real Estate Platform and Insurance Platform.
The Credit Platform segment operates EUROPACE, which is an online B2B financial marketplace and the largest German platform offering mortgages, building finance products and personal loans. A fully integrated system links more than 700 partners - banks, insurers and financial product distributors. Several thousand loan brokerage advisors execute more than 30,000 transactions per month on EUROPACE, generating a volume of more than €6 billion. Besides EUROPACE, the FINMAS and GENOPACE sub-marketplaces and the B2B distribution companies Qualitypool and Starpool support the growth of the credit platform.
The Private Clients segment, made up of the web-based, non-captive financial product distributor Dr. Klein Privatkunden and the consumer comparison portal Vergleich.de, brings together all business models aimed at directly advising consumers on mortgages, insurance or pension products.
All real estate-related activities of the Hypoport Group, with the exception of mortgage finance, are grouped together in the Real Estate Platform segment (previously Institutional Clients) with the aim of digitalising the financing, management, sale and valuation of properties.
The Insurance Platform segment operates SMART INSUR, a web-based B2B platform for advice, comparison of tariffs and the administration of insurance policies. The segment also incorporates the insurance unit of Qualitypool, a B2B distribution company.
The shares of Hypoport SE are listed in the Prime Standard segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX since 2015.
Contact
Jan H. Pahl
Investor Relations Manager
Phone: +49 (0)30 / 42086 - 1942
Mobil: +49 (0)176 / 965 125 19
Email: ir@hypoport.de
www.hypoport.com
Key data on Hypoport's shares
ISIN DE 0005493365
WKN 549336
Stock exchanges symbol HYQ
07.04.2020 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.
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1017125 07.04.2020