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26.08.2019 17:03:08

DGAP-Adhoc: The NAGA Group AG: Major Shareholder FOSUN to take majority, EUR5M growth capital to be injected.

DGAP-Ad-hoc: The Naga Group AG / Key word(s): Corporate Action
The NAGA Group AG: Major Shareholder FOSUN to take majority, EUR5M growth capital to be injected.

26-Aug-2019 / 17:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Major Shareholder FOSUN to take majority, EUR5M growth capital to be injected.

Hamburg - August 26, 2019

Shanghai-based FOSUN- Group increases its stake in The Naga Group AG, Hamburg, by acquiring an additional 17.22 % of the shares in the company from other shareholders. Together with the shares held so far, directly and indirectly, FOSUN will become the companies' majority shareholder in the course of this acquisition.
It is envisaged that the NAGA management team will increase its investment in shares of the company as well by purchasing a significant amount of shares from other shareholders.

Alongside the acquisition of the majority stake, FOSUN undertakes to inject further growth capital of EUR5M into NAGA whereof EUR3M will be granted as a senior loan and additional EUR2M via subscription of a convertible note, whereby the subscription rights of the shareholders shall be excluded.

As part of the set of the transaction agreements, close to 90 % of the companies' shareholders will lockup their shares for an additional 3 year period and enter into a voting pool during that time.

Being subject to various closing conditions, the transaction is expected to be closed until year-end 2019.

The NAGA Group AG
Andreas Luecke
Management Board
Stadthausbrücke 1-3, 5th floor
20355 Hamburg
Tel.: +49 40 5247 791 53

End of ad hoc announcement



26-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: The NAGA Group AG
Stadthausbrücke 1-3
20355 Hamburg
E-mail: info@naga.com
Internet: www.naga.com
ISIN: DE000A161NR7
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 863277

End of Announcement DGAP News Service

863277  26-Aug-2019 CET/CEST