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mybet Holding SE: Westlotto settlement improves financing situation. Annual General Meeting on 31 August 2017.

DGAP-News: mybet Holding SE / Key word(s): Legal Matter/AGM/EGM

15.05.2017 / 14:22
The issuer is solely responsible for the content of this announcement.


mybet Holding SE: Westlotto settlement improves financing situation. Annual General Meeting on 31 August 2017.

Berlin, 15 May 2017. Today, the SWS Service GmbH (SWS), a group company of mybet Group, and Westdeutsche Lotterie GmbH & Co. OHG (Westlotto) have agreed on an out-of-court settlement to put an end to the legal proceedings about damage claims for cartel infringement. As an effect of Westlotto paying EUR 11.8 million to SWS a legal dispute will be ended that had been going on for a total of around ten years. The payment will be made during the 2nd quarter 2017.

"We are pleased that we came to a solution with Westlotto to end this long-term legal proceedings by mutual agreement. The funds being received by us now improve our financial situation and form the new base of our financial planning in the year 2017", said Markus Peuler, CEO of mybet Holding SE.

Net proceeds from the settlement for mybet Group amount to EUR 8.9 million
As mybet Group had taken out an interim financing with profit participation for the potential proceeds, this financing will be redeemed by this settlement. According to the terms mybet Group is obliged to pay back to the loan provider the sum of EUR 4.0 million taken out of the established credit facility. As profit participation the loan provider receives in addition 50 percent of this sum and a further 15 percent of the then remaining amount of the settlement payment. Additionaly, a commitment fee of three percent per year for funds from the credit line not being used in the meantime will be paid. Thus, mybet Group will receive additional liquid funds in the amount of EUR 4.9 million due to the settlement in the 2nd quarter 2017.

In total, the net proceeds for mybet Group from the settlement amount to EUR 8.9 million, containing the advance payment of EUR 4.0 million loaned plus EUR 4.9 million net cash inflow after deduction of the profit participation, surplus sharing and financing fees.

"As there have been misunderstandings in the past about the costs of the financing agreement, I want to explain them again. As we redeem our payment obligations solely from the funds from the settlement and not from our own resources, the sum of EUR 4.0 million loaned has to be regarded as an advance payment that we have received out of the proceedings. Therefore, this payment of EUR 4.0 million is a part of our proceeds. The costs of the financing are solely the profit participation, the surplus sharing of 15 percent and the commitment fee, in total around EUR 2.9 million", explains Peuler.

Due to the realised extraordinary proceeds from the settlement and the now changed financing situation the Management Board is going to revise the operational plans for the financial year 2017. Based on this new plans the forecast for the current financial year 2017 of mybet Group will be adjusted, whereby it is already clear that the proceeds from the settlement, amongst others, will have a significant positive effect on the earnings before interest and taxes (EBIT). The new detailed forecast will be published prior to the results of the first quarter 2017.

Annual General Meeting of mybet Holding SE on 31 August 2017
This year the Annual General Meeting of mybet Holding SE will take place at the 31 August 2017 in Berlin, amongst others because of the onging negotiations about the settlement now agreed on. The publication of the Interim Statement on the 1st quarter 2017 is scheduled for 30 May 2017 and the publication of the Half-Year Report 2017 for 29 August 2017. The financial calendar has been updated and is available on the website of mybet Holding SE at www.mybet-se.com > Share & Dates.

mybet Holding SE
The mybet Group, licensed in several European countries to offer sports betting and online casino games, has its registered office in Berlin and locations in Cologne and Malta. mybet offers its betting and gaming products over the internet platform mybet.com as well as at land-based betting shops operating under a franchise system. In addition, the group supplies regional betting providers in Europe and Africa as a B2B service provider.
mybet Holding SE is the parent company of the mybet Group. The shares of mybet Holding SE (ISIN DE000A0JRU67) are listed on the Frankfurt Stock Exchange in the Prime Standard.
For further information, visit www.mybet-se.com | www.mybet.com | www.mybet-shop.com

Contact
mybet Holding SE
Sebastian Bucher
Investor & Public Relations

tel +49 30 22 90 83 161
fax +49 30 22 90 83 150
e-mail sebastian.bucher@mybet.com



15.05.2017 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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