Tipp24 SE: Shareholders of Tipp24 SE approve spin-off of Lotto24 AG by large majority
Jun 22, 2012 5:18 PM
Tipp24 SE / Key word(s): IPO/Capital Increase
Annual General Meeting 2012
Shareholders of Tipp24 SE approve spin-off of Lotto24 AG by large majority
(Hamburg, June 22, 2012) During the Annual General Meeting on June 22, 2012, the shareholders of Tipp24 SE approved by large majority to separate the German online lottery brokerage business launched under Lotto24 from the Tipp24 Group by way of a spin-off of the separately listed Lotto24 AG. 99.99 per cent of the shareholders voted in favour of distributing the shares of Lotto24 AG as a dividend-in-kind to the shareholders of Tipp24 SE in a 1:1 ratio. The attendance of the voting share capital amounted to approximately 61 per cent.
Dr. Hans Cornehl, CEO of Tipp24 SE: 'With today's decision, our shareholders have laid the track for the successful further expansion of the online lottery brokerage business of Lotto24 AG in Germany. I am pleased that the spin-off of Lotto24 AG has been supported by an overwhelming majority of our shareholders. We see this as a confirmation of our strategy to focus on the international business with Tipp24 SE, thereby enabling Lotto24 AG to start their activities in the German market free of the burden of legal disputes.'
The transfer of the Lotto24 AG shares to the accounts of the shareholders starts on June 26, 2012. The first trading of the Lotto24 shares in the Prime Standard of Frankfurt Stock Exchange is planned for July 3, 2012.
The Annual General Meeting also approved all proposed resolutions of the remaining agenda by large majority.
About Tipp24 SE: Tipp24 SE (formerly Tipp24 AG) was founded in September 1999 and holds equity interests in a number of companies in Spain, Italy and the UK, which enable participation in lottery-based games via the Internet, especially via the websites www.ventura24.es, www.giochi24.it, www.mylotto24.co.uk and www.tipp24.com. From its foundation to the end of 2008, Tipp24 SE brokered tickets worth over 1.5 billion euros to the state lottery companies - in the latter years over 330 million euros annually. Following its successful IPO in 2005 (Prime Standard), the company was admitted to the SDAX index in June 2009 and has been trading as a European public limited company since December 2009.
Disclaimer: This announcement constitutes neither an offer to buy securities nor a solicitation to submit an offer to buy securities in the United States, Canada, Australia or Japan. The shares of Lotto24 AG (the 'Shares') may not be offered or sold in the United States, nor to US persons (as defined by Regulation S of the US Securities Act of 1933, as amended (the 'Securities Act')) nor for the account of US persons, unless they are registered or are exempt from registration pursuant to the Securities Act. The Shares are not and will not be registered in accordance with the Securities Act. The information contained in this announcement may not be distributed in the United States, nor to US persons, nor in Canada, Australia or Japan.
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