Bloxolid AG: Closing of the Capital increase in Kind - earnings forecast for the 2023 financial year

Zug (pta006/01.12.2023/08:00) - Zug/Switzerland, December 1st, 2023 - Bloxolid AG (WKN: A3CPM1, ISIN: CH1112477067 - Stock Exchange: Stuttgart, - Free Market: MON) - As of today, the last formal steps of the implementation of the ordinary capital increase in kind approved at the Annual General Meeting on April 11, 2023 have been completed (closing).

The Annual General Meeting on 11.04.2023 approved a non-cash capital increase. On 24.08.2023, the Board of Directors approved and signed the non-cash contribution agreement with COSMOEM Digital Marketing LLC, Dubai, for the contribution of all shares in Appjiggly Ltd, Hong Kong. According to the contribution in kind agreement, the value of Appjiggly Ltd. was set at CHF 1,235,070.36, for which the contributor in kind was allocated 102,922,530 fully paid-up registered shares of the company with a par value of CHF 0.01 each and an issue price of CHF 0.012. The difference between the par value of CHF 0.01 and the issue price of CHF 0.012, i.e., the premium of CHF 0.002, or a total of CHF 205,845.06, is recognized by the company as a legal capital reserve.

With the acquisition of Appjiggly Ltd., the corporate strategy has been successfully implemented. Appjiggly Ltd. owns a portfolio of apps (mobile applications), which generate positive monthly cash flows. With the contribution in kind of Appjiggly Ltd., Bloxloid AG has also taken over the claims to the attributable income for the full calendar year 2023.

Based on current planning, the Board of Directors assumes that earnings before taxes, depreciation and amortization and the direct costs of the capital increase will amount to approximately CHF 130,000 for the financial year. The Board of Directors had not published earnings forecasts in the past.

With the finalization of the first acquisition, the Board of Directors has set the course for the profitable growth of Bloxolid AG. Bloxolid AG will thus become an attractive partner for exits for owners of apps (mobile applications) and plans to further expand its portfolio as part of an actively executed M&A strategy.

As soon as Bloxolid AG meets the legal and statutory requirements, shareholders will be able to participate directly in the company's success in the form of dividends. As part of a generous dividend policy, more than 50% of distributable profits will flow to shareholders as dividends.

(Ende)