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EQS-News: ZEAL Network SE
/ Key word(s): Squeeze Out
ZEAL submits concretized squeeze-out request to LOTTO24 AG
Hamburg, 17 July 2024. ZEAL Network SE, holding company and main shareholder of LOTTO24 AG, has concretized its transfer request for LOTTO24 AG of March 2024. The resolution on the squeeze-out is to be passed at the Annual General Meeting of LOTTO24 AG on August 27. ZEAL Network SE has informed the Management Board of LOTTO24 AG that it has set the cash compensation for the intended transfer of the shares of the minority shareholders of LOTTO24 AG at € 479.25 per share. The amount of the cash compensation was determined by ZEAL Network SE on the basis of a company valuation carried out by KPMG AG Wirtschaftsprüfungsgesellschaft. The appropriateness of the cash compensation was confirmed by the court-appointed expert auditor ADKL AG Wirtschaftsprüfungsgesellschaft. ZEAL holds around 95.45 percent of the share capital and voting rights of LOTTO24 AG. At a price of € 479.25 per share, ZEAL Network SE will pay a total of approximately € 36.3 million for the acquisition of the remaining shares in LOTTO24 AG. ZEAL Network SE will fund the acquisition of the remaining shares entirely by drawing down loans. ZEAL Network SE has already signed the corresponding loan agreements.
About ZEAL ZEAL Network is an e-commerce group of companies based in Hamburg and the market leader for online lotteries in Germany. Founded in 1999, we brought lotteries to the internet. Today, the ZEAL group now has around one million active customers and more than 200 employees at three locations. ZEAL allows the participation in state-licensed lotteries via the LOTTO24 and Tipp24 brands and also offers its own lottery products. ZEAL also owns the brands ZEAL Instant Games, ZEAL Ventures and ZEAL Iberia. In 2024, the ZEAL Group celebrates its 25th anniversary. Since our foundation, growth, innovation and success are at the heart of what we do.
Press Contact:
17.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | ZEAL Network SE |
| Straßenbahnring 11 | |
| 20251 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 8090360-42 |
| Fax: | +49 (0)40 822239-77 |
| E-mail: | frank.hoffmann@zealnetwork.de |
| Internet: | www.zealnetwork.de |
| ISIN: | DE000ZEAL241 |
| WKN: | ZEAL24 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1948337 |
| End of News | EQS News Service |
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1948337 17.07.2024 CET/CEST
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