SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity – very profitable first half year 2022
Sep 16, 2022
16.09.2022 / 09:35 CET/CEST
+++ Press release +++
Equity amounting to EUR 2.30 per share
Public share buyback tender offer ahead
Frankfurt/Main, 16 September 2022 – SGT German Private Equity GmbH & Co. KGaA (SGF), a listed Private Equity asset manager, was very profitable again in the first half of 2022. The management estimates net earnings in the first half-year of around 34 cents per share [IFRS cons., based on the 49,801,800 shares outstanding as of 30 June 2022 up until today]. Of this estimated amount, approximately 11 cents per share are resulting from the ongoing business in the "Asset Management" segment, -1 cent per share from the "Investment" segment, and 24 cents per share from the revaluation of a purchase price liability. The management estimates the equity as of 30 June 2022 to be some EUR 115 million or around EUR 2.30 per share [IFRS Group, based on 49,801,800 shares]. SGT German Private Equity plans, as already announced, to make a public share buyback tender offer to its shareholders in the near future in a volume of around EUR 5 million. This corresponds to 8% of its market capitalisation. With regard to the determination of the offer price, the SGF management was authorised by the 2021 Annual General Meeting to offer the buyback at up to 20% above the 5-day XETRA average closing price prior to the date of the closing of the agreement underlying the buyback. The company’s last share buyback tender offer took place in 2020. At that time, the buyback price offered to shareholders was EUR 2.00 per share. The management is prepared to make the forthcoming share buy-back offer at the same or a higher price, provided that it is covered by the above-mentioned authorisation of the Annual General Meeting 2021 at the time of publication of the binding offer. About SGT German Private Equity
SGT German Private Equity is a Germany-based listed private equity asset manager with registered office in Frankfurt/Main. Its 100% subsidiary SGT Capital Pte. Ltd. is a global alternative investment and private equity asset manager headquartered in Singapore. SGT Capital Fund II, with a geographical focus on Europe and North America (fund lifetime ten years), invests in market leaders and utilizes its proprietary expertice to further globalize the businesses, particularly into Asia markets. SGT has targeted fundraising volume of 2 to 3 billion USD. The management team has many years of senior experience at renowned addresses – global private equity houses, management consultancies and investment banks. SGT Capital currently manages its issued Private Equity Funds, and a joint venture with an Asian financial services provider, in a total volume of more than 800 million USD. From its origin as a leading German venture capital provider under the German Startups Group brand SGT German Private Equity also holds a heritage portfolio of minority stakes in some promising German Startups.