With the approval of the Supervisory Board of Mountain Alliance AG (MA), the company’s Management Board decided on 27 April 2020 to increase the company's share capital from EUR 6,281,012 to EUR 6,885,584. By using a part of the existing authorized capital and und exclusion of shareholder subscription rights, the company issued 604,572 new shares against cash contributions (equivalent to 9.6 per cent of Mountain Alliance AG’s previous share capital). The new shares were fully subscribed by HLEE Finance S.à r.l. as part of a private placement. The issue price is EUR 5.00 per share, which is above the average closing price of shares in the company over the last 30 trading days, as well as above the last closing price of shares in the company.
The transaction’s proceeds of ca. EUR 3.0m are to be used to drive Mountain Alliance AG’s further growth. As of 1 January 2020, the new shares will be entitled to profits. After MA’s 2020 annual general meeting, they will be included in the existing listing of shares in the “m:access” SME-segment of the Munich Stock Exchange.
