DGAP-News: LetsBuyIt Group AG: Resumption of share trading
(firmenpresse) - DGAP-News: LetsBuyIt Group AG / Key word(s): Miscellaneous
LetsBuyIt Group AG: Resumption of share trading
23.10.2012 / 12:48
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LetsBuyIt Group AG: Resumption of share trading
Zurich/Frankfurt, October 23, 2012 - LetsBuyIt Group AG hereby informs the
public that trading in its shares (WKN / ISIN: A1J4YT / CH0196151853) has
been resumed on the Frankfurt Stock Exchange as of today's date.
For security technical reasons, the share of LetsBuyIt Group AG had been
suspended from trading since 27 July 2012. During this time, the company
has successfully implemented a number of organisational topics now
facilitating the targeted further development of its business model.
These measures include initial changes in the composition of the company's
Administrative Board, from which Erika Gasser has retired. Further changes
due to be implemented in the near future are currently being considered.
Furthermore, the reverse split for the share at a ratio of 8:1 has been
implemented in a protracted security technical process. As a result, the
share's par value has increased from CHF 0.17 (approx. EUR 0.14) to CHF
1.36 (approx. EUR 1.12). This is also the reason for the significantly
higher current share price.
Given the overall impact of these measures, the company has laid
significant foundations for maintaining its share listing in the open
market of the Frankfurt Stock Exchange on a long-term basis. In this
respect, the company is aiming to be accepted into the Entry Standard
segment by the end of the year.
The company expects a well-functioning access to the capital market to
produce substantial advantages in terms of its ongoing corporate financing,
ultimately benefiting a sustainable business performance.
About LetsBuyIt.com:
LetsBuyIt.com is a platform providing online price comparison and social
shopping services.
LetsBuyIt is currently active in France, Germany and United Kingdom with
three different website versions.
The company currently reports in its websites over 50 million products sold
by more than 1,500 different merchants. LetsBuyIt makes continuous and live
updates of its product database and indexes new merchants with their
products on a daily basis.
LetsBuyIt allows customers to purchase products at the lowest possible
price by providing on its website all the actual best practices of online
shopping. The aim of the Company is to become the leading shopping portal
and an e-commerce online community meeting point. Indeed, distinctive
features of LetsBuyIt are the social tools which give customers the
opportunity to exchange opinions on their buying experiences, products etc.
End of Corporate News
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23.10.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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