SLM SOLUTIONS GROUP AG (FRA:DE000A11) SLM Solutions Group AG announces capital injection with participation of Elliott and ENA Investment Capital, and changes to the composition of the Supervisory Board

Transparency directive : regulatory news

28/03/2019 21:37

DGAP-News: SLM Solutions Group AG / Key word(s): Capital Increase
SLM Solutions Group AG announces capital injection with participation of Elliott and ENA Investment Capital, and changes to the composition of the Supervisory Board

28.03.2019 / 21:37
The issuer is solely responsible for the content of this announcement.

SLM Solutions Group AG announces capital injection with participation of Elliott and ENA Investment Capital, and changes to the composition of the Supervisory Board

- SLM Solutions increases its share capital by ten percent under exclusion of subscription rights

- Elliott will initially acquire all new shares, increasing Elliott's position in the Company to 29.8% ; 20% of the new shares will be subsequently transferred to ENA Investment Capital

- Issue price of EUR 7.23 per share 12.4% above today's closing share price of EUR 6.43

- Total investment of approximately EUR 13 million strengthens SLM Solutions' financial position, allowing it to refocus on growth

- Announcement of three proposed new Supervisory Board members set to bring additional industry, manufacturing and capital markets expertise

Luebeck, March 28, 2019 - The Executive Board and the Supervisory Board of SLM Solutions Group AG ("SLM", or the "Company"), a leading provider of metal-based additive manufacturing technology, today resolved to increase the registered share capital of the Company by approximately 10%, from EUR 17,980,867 to EUR 19,778,953, through the exercise of its authorised capital, and under exclusion of shareholders' subscription rights (the "Capital Increase").

The 1,798,086 new no-par value ordinary bearer shares were placed to funds advised by Elliott Advisors (UK) Limited ("Elliott") with the obligation to subsequently transfer 20% of these new shares to funds managed by ENA Investment Capital LLP ("ENA Investment Capital") on the same terms and conditions. The new shares were placed at a price of EUR 7.23 per new share representing a premium to the XETRA closing price on March 28, 2019 of 12.4%.

The new shares, which carry full dividend rights as of January 1, 2018, shall be admitted to trading on the regulated market ("regulierter Markt") without a prospectus, and are expected to be included in the existing quotation for the Company's shares in the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) on the Frankfurt Stock Exchange in April 2019.

SLM will receive gross proceeds amounting to around EUR 13 million from the Capital Increase. The proceeds from the Capital Increase will bolster the Company's financial position and will be used for general corporate purposes.

In addition, Peter Grosch and Lars Becker have informed the Company today, following the resolution of the Supervisory Board on the capital increase, that they resign from the Company's Supervisory Board, with the consent of the Chairman of the Supervisory Board, effective April 15, 2019. Bernd Hackmann has informed the Company simultaneously that he will no longer be available as member of the Company's Supervisory Board after the AGM on June 25, 2019. In coordination with Elliott, SLM's largest shareholder, the Company will consider suggesting Michael Mertin, Magnus René and Thomas Schweppe for court appointment or election to SLM's Supervisory Board as the case may be. Michael Mertin, Magnus René and Thomas Schweppe bring additional experience in additive manufacturing, industrial manufacturing and capital markets and will complement and strengthen the board of SLM. Michael Mertin is the former CEO of Jenoptik, Magnus René is the founder and former CEO of ARCAM in Sweden and Thomas Schweppe is Managing Director of 7Square and former Managing Director at Goldman Sachs.

"We welcome Elliott's and ENA Investment Capital's strong commitment to SLM. The injection of additional capital is a strong vote of confidence in the future prospects of SLM. We are also encouraged by the fresh perspectives and unique experience that Michael Mertin, Magnus René and Thomas Schweppe will bring to SLM's Supervisory Board. We thank Peter Grosch, Lars Becker and Bernd Hackmann for their years of service to SLM. With a refreshed Supervisory Board, a new CEO, and fresh injection of capital, SLM is well positioned to realize its full potential," said Hans-Joachim Ihde, Chairman of SLM's Supervisory Board and founder of SLM.

Franck Tuil, senior portfolio manager at Elliott, stated: "The commitment of additional capital is based on our belief in SLM's technological leadership in the additive manufacturing industry and its strong customer base. We look forward to continuing our collaborative relationship with the Company and are confident the newly appointed CEO Meddah Hadjar and a strengthened Supervisory Board can successfully position SLM to realise its significant potential, delivering compelling value to all of SLM's stakeholders."

About the Company:
Lübeck-based SLM Solutions Group AG is a leading provider of metal-based additive manufacturing technology. The company's shares are traded in the Prime Standard of the Frankfurt Stock Exchange. SLM Solutions focuses on the development, assembly and sale of machines and integrated system solutions in the field of selective laser melting. SLM Solutions currently employs over 400 members of staff in Germany, Austria, France, Italy, the USA, Singapore, Russia, India and China. The products are utilised worldwide by customers in particular from the aerospace, energy, healthcare and automotive industries.

Dennis Schaefer
Vice President HR, Legal & Investor Relations
Tele: 0049 451 4060 4307
eMail: dennis.schaefer@slm‐

28.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: SLM Solutions Group AG
Estlandring 4
23560 Lübeck
ISIN: DE000A111338
WKN: A11133
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 793315

End of News DGAP News Service

793315  28.03.2019 


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