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SANDPIPER Digital Payments AG announces capital increase from authorised capital

EQS Group-News: Sandpiper Digital Payments AG / Key word(s): Capital Increase

2016-11-23 / 23:50


SANDPIPER Digital Payments AG announces capital increase from authorised capital

- Capital increase of up to 58'535'994 new shares with shareholder subscription rights

- Subscription price for the Rights Offering is CHF 0.10 per share

- Large part of the placement volume is secured by anchor investors

St. Gallen / Switzerland, November 23rd, 2016: SANDPIPER Digital Payments AG ("SANDPIPER", ISIN: CH0033050961, Ticker: SDP, www.sandpiper.ch), a leading company in Europe for cashless payment systems and services, announces capital increase from authorised capital.

The Board of Directors of SANDPIPER has resolved to utilize the existing authorized capital to implement a capital increase with subscription rights for current shareholders. The company's share capital is to be increased in return for cash contributions from currently CHF 16'840'634.40 by up to CHF 5'853'599.40 to up to CHF 22,694,233.80 through the issue of up to 58'535'994 new bearer ordinary shares (no-par shares) representing a notional portion of the share capital of CHF 0.10 per share.

Shareholders will be granted subscription rights in a ratio of 3:1 for an issue price of CHF 0.10 per new share. This means that shareholders may subscribe one 'new' share for three 'old' shares. The subscription period runs from November 28, 2016 to December 07, 2016. Subscription rights may not be traded. There will be no compensation for any subscription rights that are not exercised. The new funds will be used to strengthen the company's capital base.

Ahead of the capital increase, the Board of Directors was able to attract significant interest with existing as well as potential investors. When the capital increase was announced, the Board had already placed most of the up to CHF 5.9 million.

"We are currently in an exciting phase of the business's development and actively pursuing several strategic options and growth opportunities for 2017. It is our plan to use the proceeds of this capital increase to fund these initiatives and position SANDPIPER as a leading payments provider in our markets", said Dr. Cornelius Boersch, President of the Board of Directors of SANDPIPER. "The interest in the capital increase is very strong. Existing investors can participate and have the right to subscribe", Jens Bäuml, Member of the Executive Committee, added.

About SANDPIPER

SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed technology holding based in St. Gallen, Switzerland. The company is focused on the consolidation of the fragmented payment landscape in Europe by pursuing a "buy & build" strategy in the area of digital cashless payments and access control.

SANDPIPER is already today one of the largest providers of closed-loop payment systems in Europe. SANDPIPER solutions provide safe and intuitive payment technologies based on RFID/NFC and mobile applications for markets such as Retail, Education, Stadium, and Events.

Volker Rofalski, Tel: +41-44-783 80 30; Fax: +41-44-783 80 40, Internet: www.sandpiper.ch


Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=IYEFGWLTHJ
Document title: SANDPIPER_Capital-Increase_161123


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