DGAP-News: Annual general meeting of Lotto24 AG
(firmenpresse) - DGAP-News: Lotto24 AG / Key word(s): AGM/EGM
Annual general meeting of Lotto24 AG
07.08.2013 / 13:38
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Press release
Annual general meeting of Lotto24 AG
- Management sees Company well prepared for future growth
(Hamburg, 7 August 2013) Lotto24 AG today concluded its first AGM
successfully. With 62% of voting rights represented at the meeting, all
resolutions on the agenda were adopted by a large majority, including
release of the Board and Management for the results of the 2012 financial
year, as well as the approval for an increase in the authorized share
capital.
Looking back at 2012 and the first six months of the current financial
year, Management is pleased with the development of the Company since its
spin-off from Tipp24 SE. In a difficult regulatory environment, all
milestones that form the foundation of the Company were met. As one of the
first private online lottery brokers, the Company received the combined
lottery brokerage permit on 24 September 2012 and immediately commenced
with its online offering. As of October, ten of the country's federal
states were successfully covered. Also in October, the Company received
certification for its proprietary and innovative age-verification system.
In December, following receipt of an expansion of its brokerage permit,
Lotto24 was the first to commence with integrated Lotto-shops through
partner sites on Web.de and GMX.
At the time of its going public in July 2012, the Company stated its
objective of being able to market its online Lotto offering nationwide
within twelve months. This objective was met ahead of time, when in March
2013 Lotto24 received the advertising permit and commenced its online
marketing campaign. 'All early indicators show that consumers behave as our
experiences up to 2008 showed, and as we expected', stated CFO Magnus von
Zitzewitz. 'We therefore believe our business model is valid and that we
are at the start of a period of dynamic growth'.
In order to provide room for maneuver, Management and Board had proposed to
shareholders at the AGM to increased the Company's authorized share
capital. 'One of the key success factors in gaining share of a young and
dynamic market, is the ability to penetrate the market quickly', stated
Petra von Strombeck. 'The increase in the authorized share capital provides
us with greater potential means, which we can utilize to increase our
marketing efforts and thereby accelerate our market penetration. The
market will be divided in the coming years. In many areas, we are ahead of
the competition and we want to defend this advantage. With the backing from
our shareholders, we are well equipped to do so.'
About Lotto24 AG: Lotto24 AG (formerly Tipp24 Deutschland GmbH) was founded
by Tipp24 SE in 2010 in order to resume the commercial online brokerage of
games of chance in Germany. Following the successful spin-off from its
parent company, Lotto24 AG has been listed as an independent company on the
Prime Standard segment of the Frankfurt Stock Exchange since 3 July 2012.
Lotto24 AG focuses on brokering state-licensed lottery products, such as
'Lotto 6aus49', 'Spiel 77', 'Super 6', 'EuroJackpot' and 'Glücksspirale'
via the Internet (www.lotto24.de). Lotto24 enters into gaming contracts
with the respective lottery companies on behalf of and in the name of the
game participant. Lotto24 aims to become Germany's leading online broker of
lottery products.
Press contact:
Lotto24 AG
Frank Schwarz
Tel.: +49 (0) 611 / 1745 398 0
E-mail: ir(at)lotto24.de
Internet: www.lotto24-ag.de
End of Corporate News
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07.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Lotto24 AG
Neuer Wall 63
20354 Hamburg
Germany
Phone: +49 (0)40 8 222 39 0
Fax: +49 (0)40 8 222 39 70
E-mail: ir(at)lotto24.de
Internet: www.lotto24-ag.de
ISIN: DE000LTT0243
WKN: LTT024
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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224689 07.08.2013
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