Tipp24 AG: Restructuring continues and further share buyback

Apr 30, 2009 10:16 PM

Tipp24 AG / Strategic Company Decision

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------

Continuing the restructuring of the Tipp24 Group caused by the introduction
of the second stage of Germany's State Treaty on Gaming, Tipp24 AG has sold
60% of voting rights in each of the Group's two UK subsidiaries, MyLotto24
Limited and Tipp24 Services Limited, to the charitable foundation it set up
in Zürich, Switzerland, 'Fondation enfance sans frontières'. The move
reflects the operating independence of the two companies in their
respective business fields, which was also enacted by a transfer of control
by Tipp24 AG in its role as shareholder. The foundation supports recognized
charitable institutions whose activities serve to promote and protect
children and juveniles. The foundation receives a five-figure amount in
British pounds as an annual guaranteed dividend from the shares sold to it.

Despite selling the majority of voting rights in these two companies,
Tipp24 AG expects that MyLotto24 Limited and its subsidiaries will still
have to be fully consolidated in the Group's accounts. Tipp24 AG also
expects that the German legislation which forbids its operations - in
contravention of EU law - will be adapted to the requirements of
higher-ranking European legislation again in the medium term. Until this
time, the profits generated by the Group's UK subsidiaries will be retained
on the level of MyLotto24 Limited. After the legal situation has been
settled in its favour, Tipp24 AG has the right to repurchase the sold
shares from the foundation.

Tipp24 AG has also resolved to conduct a further share buyback programme,
during which shares in Tipp24 AG with a total value of up to EUR 2,000,000
(including transaction costs) are to be bought back via the stock exchange
in the period from 11 May 2009 until 30 September 2009 at the latest.
Further details on the share buyback programme can be found on Tipp24 AG's
corporate website (www.tipp24-ag.de). Every buyback transaction will be
announced on the website no later than seven stock exchange trading days
after the respective transaction.
30.04.2009  Financial News transmitted by DGAP
----------------------------------------------------------------------
 
Language:     English
Issuer:       Tipp24 AG
              Straßenbahnring 11-13
              20251 Hamburg
              Deutschland
Phone:        +49 (0)40 325533-0
Fax:          +49 (0)40 325533-77
E-mail:       office@tipp24.de
Internet:     www.tipp24-ag.de
ISIN:         DE0007847147
WKN:          784714
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------