21.10.2016 18:38:53
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DGAP-Ad hoc: mybet Holding SE
mybet Holding SE / Key word(s): Contract/Financing
21.10.2016 18:38
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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mybet Holding SE: Interim financing of potential proceeds from damage claim
proceedings versus Westlotto arranged
Berlin, October 21, 2016. Today, the SWS Service GmbH ("SWS"), a subsidiary
of mybet Holding SE, has arranged an interim financing agreement for the
potentially arising proceeds from the legal proceedings versus Westdeutsche
Lotterie GmbH & Co. OHG. The transaction is structured by way of a credit
facility amounting to four million Euros and a variable profit
participation. In addition, the agreement includes an option for SWS to
raise the credit facility to five million Euros as from January 1, 2018.
Any loan emerging from the utilisation of the credit facility will be free of interest and will, together with the participation, be due after the final and binding end of the Westlotto proceedings either by a decision or a court settlement. If SWS will not receive any proceeds from the legal proceedings the loan will not be repaid and there are also no other rights of recourse or repayment for the creditor. If SWS should receive proceeds from the proceedings, the total amount of the emerging repayment obligation to the creditor can by no means exceed the total proceeds received, even if this would for example lead to an incomplete repayment of the initial loan.
If the funds are sufficient, the repayment to the creditor amounts to 150 percent of the loan's volume. This proportion rises step by step to a maximum of 200 if the legal proceedings do continue for longer than one year after the utilisation of the credit facility. This maximum will be reached after a proceedings duration of 2.5 years after the utilisation of the credit facility. Furthermore and independent from the duration of the proceedings, the creditor receives 15 percent of the proceeds that might remain after the settlement of the time-dependent repayment.
Potentially remaining funds after having met all payment obligations to the creditor will benefit SWS in all scenarios.
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Information and Explanation of the Issuer to this News:
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 Hamburg, Cologne and Malta. mybet offers its betting and gaming products over the internet platforms mybet.com and mybet.de as well as at physical 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
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
21.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
--------------------------------------------------------------------------- Language: English Company: mybet Holding SE Jägersberg 23 24103 Kiel Germany Phone: +49 30 22 90 83 100 Fax: +49 30 22 90 83 150 E-mail: ir@mybet.com Internet: www.mybet-se.com ISIN: DE000A0JRU67 WKN: A0JRU6 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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