EQS-Adhoc

SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity – Realignment of the strategy towards Artificial Intelligence

EQS-Ad-hoc: SGT German Private Equity GmbH & Co. KGaA / Key word(s): Strategic Company Decision/Transaction in Own Shares SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity – Realignment of the strategy towards Artificial Intelligence 13-March-2024 / 15:19 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. +++ Ad-hoc Announcement +++

 

SGT German Private Equity – Realignment of the strategy
towards Artificial Intelligence

 

• Repurchase of 36.7 million own shares; Number of outstanding shares decreases from 46.3 to 9.6 million; free float thus increases to 75%
• Realignment of the strategy towards artificial intelligence and renaming to 'German AI Group'
• Discontinuation of the private equity asset management business of the subsidiary SGT Capital Pte. Ltd. due to clouded business and earnings prospects
• Revised guidance 2023: Operating loss of 7 cents, instead of expected net profit of 10 cents per share; the book value of equity decreases from 2.15 EUR to 1.95 EUR per share

 

Frankfurt/Main, 13 March 2024 – SGT German Private Equity ("SGF") (ISIN DE000A1MMEV4) will focus on artificial intelligence in the future. It will draw on the extensive expertise, experience and network from its previous technology investments under its founder and former tech entrepreneur Christoph Gerlinger. Under the German Startups Group brand, SGF was successful as a leading venture capital provider in Germany between 2012 and 2020 and held stakes in Delivery Hero, MisterSpex, Chrono24 and Scalable Capital, among others. As part of this strategic realignment, details of which will be presented in the second quarter, the company will change its name to 'German AI Group'.