DGAP-Adhoc: The Social Chain AG intends to sell the majority of shares in SOLIDMIND Nutrition GmbH
DGAP-Ad-hoc: The Social Chain AG / Key word(s): Letter of Intent
The Social Chain AG intends to sell the majority of shares in SOLIDMIND Nutrition GmbH
19-May-2020 / 15:46 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication Pursuant to MAR Article 17
The Social Chain AG intends to sell the majority of shares in SOLIDMIND Nutrition GmbH
Berlin, 19 May 2020 - The Social Chain AG (WKN: A1YC99, ISIN: DE000A1YC996, Ticker: PU11) (the "Company") as majority shareholder of SOLIDMIND Nutrition GmbH ("SOLIDMIND") and the other shareholder of SOLIDMIND, Mr. Lars Müller, today signed a letter of intent with SynBiotic SE regarding the contribution and sale of 100% of the shares in SOLIDMIND.
It is intended that the company will contribute its shares in SOLIDMIND amounting to 52 percent of the share capital of SOLIDMIND to SynBiotic SE by way of a capital increase against contributions in kind in return for 520,000 new shares.
The exchange ratio within the framework of the capital increase against contribution in kind is to be reviewed by an auditing company's Fairness Opinion, which is still to be carried out.
The Supervisory Board of the company has approved the execution of the transaction in principle in a vote today.
About THE SOCIAL CHAIN AG
As the first integrated social media company. THE SOCIAL CHAIN AG combines social media and social commerce, integrated through its own tech platform LINKS. The company is a pioneer in the creation, development and scaling of social media brands. The company's headquarters are in Berlin with additional offices in Manchester, London, New York and Munich.
Contact:
Jana Walker | Investor Relations I ir@socialchain.com
Important Notice
This publication constitutes neither an offer to sell nor a solicitation to buy shares of The Social Chain AG. No public offer of securities of The Social Chain AG is being made or intended.
The distribution of this publication may be subject to legal restrictions in certain jurisdictions. Persons who come into possession of this publication are requested to inform themselves about any of such restrictions and comply with them. Non-compliance with such restrictions may constitute an infringement of the securities laws of the respective jurisdiction.
This document is not an offer of securities for sale in the United States. The shares of The Social Chain AG (the "Shares") have not been registered and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. A public offering and/or a registration under the Securities Act are not intended.
This document is only being distributed to and is only directed at persons who (i) are outside the United Kingdom or (ii) are investment professionals falling within Article 19(5) or persons falling within Article 49(2)(a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as "Relevant Persons"). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. This announcement is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons.
19-May-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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End of Announcement DGAP News Service
1050653 19-May-2020 CET/CEST