GK Software AG / Miscellaneous
18.03.2010 14:50
Dissemination of a Corporate News, transmitted by
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- Private issue by company founders increases free float to 34.82%
- Buyers are institutional investors
Schöneck, 18 March 2010 - The company founders and members of the GK
SOFTWARE AG board, Rainer Gläà (CEO) and Stephan Kronmüller (CTO), have
sold 180,000 of the shares that they jointly held in the GK Software
Holding company in the form of a private issue.
The two company founding shareholders and board members of GK SOFTWARE AG,
Rainer Gläà and Stephan Kronmüller, have sold 10.81% of their shares in the
company by way of a private issue. The transaction was carried out acting
on the advice of the lead manager, ICF Kursmakler AG, in order to meet the
request expressed on many occasions by institutional investors to increase
the free float allocation. This is designed to improve the marketability of
the shares and reduce volatility. The increase in the proportion of shares
that are freely marketable now makes GK SOFTWARE an interesting proposition
for investors too, who can invest in free float securities that make up
more than 25% of the company's shares. The sales price for the shares made
available in this issue was EUR 50 per unit. The buyers are institutional
investors based in Germany and elsewhere in Europe. As a result of this
transaction, the proportion of free float shares has risen from 24.01% to
34.82%. The proportion of shares in GK SOFTWARE AG held by the two company
founders directly and indirectly is now 65.18%. So the company founders
continue to have a majority shareholding in the company. Through this
transaction, the percentage of equity held by GK Software Holding GmbH in
GK SOFTWARE AG has fallen from 70.57% to 59.76%.
Rainer Gläà and Stephan Kronmüller are planning to retain their majority
shareholding in GK SOFTWARE in the long term. Rainer GläÃ, CEO at GK
SOFTWARE AG says: 'Stephan Kronmüller and I have acted in accordance with
the wishes of the capital market and have enabled an increase in the free
float in order to make the share even more attractive for capital markets.
However, we are not planning to sell any more shares. We are both convinced
that GK SOFTWARE AG, which we founded, still has a great deal of potential
for the future.'
Company profile GK SOFTWARE AG:
GK SOFTWARE AG is one of the leading technology developers and providers of
standard software for the retail sector in Europe and has an extensive
range of products for stores and enterprise headquarters. As a result of
its open software solutions in the GK/Retail Suite, which can be used with
any platform and is fully programmed in Java, the company has established
itself on the market as a leading provider of technology and innovations.
The software provides ideal business organization for retail companies with
many stores and therefore offers significant potential for cost savings and
customer loyalty programs so that companies can increase their
competitiveness.
The company employs 277 members of staff (figures for 31 September 2009) at
company head-quarters in Schöneck and four other business locations in
Berlin, St. Ingbert, Plzen (CZ) and Basel/Riehen (CH). GK SOFTWARE AG can
list well-known German and foreign retail companies among its customers,
including Galeria Kaufhof, Parfümerie Douglas, Coop (Switzerland), EDEKA
Hannover-Minden, Hornbach, JYSK Nordic, Lidl, Netto Marken-Discount and
Tchibo. The software is currently being used in more than 25 countries at
70,000 POS units in approx. 18,500 stores in Germany and abroad.
The company has grown rapidly during the past few years and its sales
revenues totaled EUR 15.0 million in 2008. GK SOFTWARE AG achieved EBIT of
EUR 2.8 million (EBIT margin of 18.5% on total operating revenue). The two
founders and Management Board members, Rainer Gläà (CEO) und Stephan
Kronmüller (CTO), in conjunction with the Management Board members Ronald
Scholz (COO) and André Hergert (CFO), have made GK SOFTWARE AG a profitable
company with strong growth since 1990.
Further information about the company: www.gk-software.com
Investor Relations
GK SOFTWARE AG
Dr. René Schiller
Tel.: +49 (0)37464-84-264
Fax: +49 (0)37464-84-15
E-mail: rschiller@gk-software.com
18.03.2010 14:50 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: GK Software AG
WaldstraÃe 7
08261 Schöneck
Deutschland
Phone: +49 (0)3 74 64 84 - 0
Fax: +49 (0)3 74 64 84 - 15
E-mail: info@gk-software.com
Internet: www.gk-software.com
ISIN: DE0007571424
WKN: 757142
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: GK Software AG: GK SOFTWARE Free Float Significantly Increased
| Source: EQS Group AG