With the approval of the Supervisory Board of Ecommerce Alliance AG (ECA), the company’s Management Board today decided to increase the company's share capital from EUR 2,690,220 to EUR 2,959,242. By using a part of the existing authorized capital and excluding shareholder subscription rights, the company issued 269,022 new shares against cash contributions (equivalent to 10 per cent of Ecommerce Alliance AG’s previous share capital). The new shares were fully subscribed by Mountain Partners AG as part of a private placement. The issue price was EUR 7.40 per share, which is above the average closing price of shares in the company over the last 30 trading days, as well as above the last closing price of shares in the company.
The transaction’s proceeds are to be used to drive Ecommerce Alliance AG’s further strategic growth. As of 1 January 2017, the new shares will be entitled to a share of profits. After ECA’s 2017 annual general meeting, they will be included without prospectus in the existing listing of shares in the “m:access” SME-segment of the Munich Stock Exchange.
In the course of taking this stake in Ecommerce Alliance AG, Mountain Partners AG acquired in addition 675,000 shares (which represents 22.8 per cent of the total number of shares taking into account the previously mentioned capital increase) owned by Daniel Wild via the company Tiburon Unternehmensaufbau GmbH. The purchase price of EUR 7.40 per share was paid half in cash and half in the form of shares in Mountain Partners AG. Wild continues to own – directly or indirectly – about 300,000 shares in Ecommerce Alliance AG. The transactions will make Mountain Partners AG the largest shareholder in Ecommerce Alliance AG, with a stake of 31.9 per cent in the company.
In order to strengthen the operational and strategic co-operation between the two companies, Daniel Wild will assume the role of Chief Executive Officer (CEO) of Mountain Partners AG on 1 May 2017, in addition to his role as CEO of Ecommerce Alliance AG.
It is planned that Mountain Partners AG will take over the absolute majority of shares in Ecommerce Alliance AG in a third step. This is to be done by means of a capital increase against contributions in kind, which will see Mountain Partners AG transfer appropriate investments from its to Ecommerce Alliance AG’s portfolio. This step is expected to be concluded in the next six months.