DGAP-News: Constantin AG (Constantin Medien)

PRESS RELEASE

Constantin Medien AG: Full repayment of the existing corporate bond secured

- Debt relief through partial sale of Highlight Communications AG shares

- Permanent and noticeable improvement in future financial result

- Optimization of financial structure allows concentration on operative business

Ismaning, March 22, 2018 - Constantin Medien AG today announced that the full repayment of the corporate bond 2013/2018 with a nominal value of EUR 65 million and a 7.0 % coupon, due to expire on April 23, 2018, is guaranteed. With the approval of the Group Financing Special Committee of the Supervisory Board, the Management Board voted on March 22, 2018 to sell a total of 12,417,482 out of 20,600,000 Highlight Communications AG shares in its own portfolio at a price of EUR 5.20 per share to Highlight Event and Entertainment AG. This corresponds to a total value of EUR 64.57 million. The corresponding purchase agreement was signed by both parties on March 22, 2018.

Thus, the repayment of the existing corporate bond 2013/2018 is guaranteed. The interest incurred for the 2017/2018 period totalling approximately EUR 4.55 million will be paid from existing liquidity. The Group has therefore fully repaid all financial liabilities and is completely debt-free. The financial result will also considerably improve when taking into account the elimination of future dividends due to the sale of the Highlight Communications AG shares.

Olaf Schröder, CEO of Constantin Medien AG: "With the full repayment of the corporate bond from our own resources, our Group is relieved of all its debts. Because the interest payments are eliminated in the future, we will permanently and noticeably improve our financial result. My fellow Board Member Dr Matthias Kirschenhofer and I, along with all employees of the Constantin Medien Group, can now turn our full attention back to our core business and continue driving our sport-focused strategy."
 

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