01.02.2016 17:38:51
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DGAP-News: net mobile AG
DGAP-News: net mobile AG: Planned acquisition of Visa Europe Limited through Visa Inc. benefits the company indirectly - positive non-recurring effect expected
Düsseldorf, 1 February 2016 - An assessment completed lets net mobile AG (ISIN DE0008137852) expect a EUR 17m allotment amount for its subsidiary net-m privatbank 1891 AG, as a member of Visa Europe Limited, through the takeover of Visa Europe Limited by Visa Inc. The planned takeover is under the caveat of authorisation through the appropriate regulating authorities and is expected to be completed within the coming 5 months.
After the appraisal of current information in regard to the takeover, net mobile AG assumes that its subsidiary can expect EUR 13m in cash and approx. EUR 4m in preferred stock of Visa Inc. during the current fiscal year. These mentioned amounts might be amended depending on transaction costs as also through the justified objections of members of Visa Europe Limited. The review of these objections is expected to be completed in March 2016, resulting in the planned distribution of the determined amounts as final and binding. The preferred stock becomes fully convertible on the 12th anniversary of Closing, subject only to a holdback to cover any then-pending claims.
Additionally, an Earn-Out Agreement is in prospect, which would involve a further payment to net-m privatbank 1891 AG four years after completion, presuming the acceptance of the agreement and that net-m privatbank 1891 AG remains a member of Visa for a further four years. The possible accrual is dependent on the business volume in the area of "Creditcard-Aquiring-Services".
As the amounts have not yet been finalised and because net mobile AG is in a sales process regarding the shares in net-m privatbank 1891 AG, the possible impact of the takeover and the Earn-Out Agreement on the evaluation and annual earnings of net mobile AG and net-m privatbank 1891 AG are still unknown.
About net mobile AG
net mobile AG is a leading international full-service provider of mobile value added services and payment solutions. The company, founded in November 2000, is regarded as an innovation leader in the marketplace. Clients worldwide include national and global mobile telecommunication providers, media companies, online shopping portals, brand name companies and television networks, for which complete white label solutions such as direct carrier billing and mobile television services are provided. Since December 2009, NTT DOCOMO, INC. is the main shareholder with over 87% share ownership. For more information please visit www.net-mobile.com.
If you have any further questions, we will be most happy to help. We will gladly establish a direct contact to the responsible person at net mobile AG.
Contact person net mobile AG Dennis Heisig Press Officer net mobile AG Fritz-Vomfelde-Str. 26-30 DE 40547 Dusseldorf Tel: +49 (0) 211 970 20 - 344 Fax: +49 (0) 211 970 20 - 999 E-Mail: dennis.heisig@net-m.de
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01.02.2016 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: net mobile AG Fritz-Vomfelde-Str. 26-30 40547 Düsseldorf Germany Phone: +49 (0)211 970 20-0 Fax: +49 (0)211 970 20-999 E-mail: info@net-m.de Internet: www.net-mobile.com ISIN: DE0008137852 WKN: 813785 Listed: Regulated Unofficial Market in Berlin, Hamburg, Munich (m:access), Stuttgart; Open Market in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
433845 01.02.2016
DGAP-News: net mobile AG / Key word(s): Forecast
net mobile AG: Planned acquisition of Visa Europe Limited through Visa Inc.
benefits the company indirectly - positive non-recurring effect expected
01.02.2016 / 17:38
The issuer is solely responsible for the content of this announcement.
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CORPORATE NEWS
net mobile AG: Planned acquisition of Visa Europe Limited through Visa Inc.
benefits the company indirectly - positive non-recurring effect expected
Düsseldorf, 1 February 2016 - An assessment completed lets net mobile AG (ISIN DE0008137852) expect a EUR 17m allotment amount for its subsidiary net-m privatbank 1891 AG, as a member of Visa Europe Limited, through the takeover of Visa Europe Limited by Visa Inc. The planned takeover is under the caveat of authorisation through the appropriate regulating authorities and is expected to be completed within the coming 5 months.
After the appraisal of current information in regard to the takeover, net mobile AG assumes that its subsidiary can expect EUR 13m in cash and approx. EUR 4m in preferred stock of Visa Inc. during the current fiscal year. These mentioned amounts might be amended depending on transaction costs as also through the justified objections of members of Visa Europe Limited. The review of these objections is expected to be completed in March 2016, resulting in the planned distribution of the determined amounts as final and binding. The preferred stock becomes fully convertible on the 12th anniversary of Closing, subject only to a holdback to cover any then-pending claims.
Additionally, an Earn-Out Agreement is in prospect, which would involve a further payment to net-m privatbank 1891 AG four years after completion, presuming the acceptance of the agreement and that net-m privatbank 1891 AG remains a member of Visa for a further four years. The possible accrual is dependent on the business volume in the area of "Creditcard-Aquiring-Services".
As the amounts have not yet been finalised and because net mobile AG is in a sales process regarding the shares in net-m privatbank 1891 AG, the possible impact of the takeover and the Earn-Out Agreement on the evaluation and annual earnings of net mobile AG and net-m privatbank 1891 AG are still unknown.
About net mobile AG
net mobile AG is a leading international full-service provider of mobile value added services and payment solutions. The company, founded in November 2000, is regarded as an innovation leader in the marketplace. Clients worldwide include national and global mobile telecommunication providers, media companies, online shopping portals, brand name companies and television networks, for which complete white label solutions such as direct carrier billing and mobile television services are provided. Since December 2009, NTT DOCOMO, INC. is the main shareholder with over 87% share ownership. For more information please visit www.net-mobile.com.
If you have any further questions, we will be most happy to help. We will gladly establish a direct contact to the responsible person at net mobile AG.
Contact person net mobile AG Dennis Heisig Press Officer net mobile AG Fritz-Vomfelde-Str. 26-30 DE 40547 Dusseldorf Tel: +49 (0) 211 970 20 - 344 Fax: +49 (0) 211 970 20 - 999 E-Mail: dennis.heisig@net-m.de
---------------------------------------------------------------------------
01.02.2016 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: net mobile AG Fritz-Vomfelde-Str. 26-30 40547 Düsseldorf Germany Phone: +49 (0)211 970 20-0 Fax: +49 (0)211 970 20-999 E-mail: info@net-m.de Internet: www.net-mobile.com ISIN: DE0008137852 WKN: 813785 Listed: Regulated Unofficial Market in Berlin, Hamburg, Munich (m:access), Stuttgart; Open Market in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
433845 01.02.2016
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