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Premature termination of the capital increase; new capital increase planned Munich, November 29, 2024 The Management Board of Your Family Entertainment AG announces that an investor, Ascent Capital, LLC, has been found as part of the planned capital increase of up to 10% of the company’s share capital, excluding shareholders‘ subscription rights (see ad hoc announcement of February 1, 2024). Ascent Capital, LLC has agreed to fully subscribe to new shares in Your Family Entertainment AG in this amount through its company Spirit of the Game, a Series of Ascent Productions LP. The implementation of this initially planned capital increase was limited to November 30, 2024 at the latest. However, for technical reasons, the new investor cannot meet this date. The Management Board has therefore decided today to end the current capital increase early today without subscriptions. At the same time, the Management Board plans, subject to the approval of the Supervisory Board, to carry out a new capital increase in the same amount, excluding the shareholders‘ subscription rights and again partially utilizing the Authorized Capital 2022 created by resolution of the Company’s Annual General Meeting on June 28, 2022, in order to enable only Ascent Capital or its company Spirit of the Game, a Series of Ascent Productions LP to enter the company. This new planned capital increase is to be implemented within the next four months. The funds raised from this new capital measure are to be used to promote innovations in the areas of artificial intelligence (AI), the expansion of digital platforms (streaming/video-on-demand) and for possible M&A transactions. This is in line with the Company’s strategic direction of further expanding its position as a leading company in the field of children’s and family entertainment. Your Family Entertainment AG Company providing the information: Contact / person providing the information: www.yfe.tv End of Inside Information |
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2041443 29-Nov-2024 CET/CEST