DGAP-News: SYGNIS AG: GBC Research publishes Update on
(firmenpresse) - DGAP-News: SYGNIS AG / Key word(s): Research Update
SYGNIS AG: GBC Research publishes Update on
31.10.2013 / 11:48
---------------------------------------------------------------------
Press Release
GBC Research publishes Update on
Successful Completion of SYGNIS AG Capital Increase
- Capital increase strengthens liquidity and finances further growth
- Break-even expected in 2014
- Buy rating and target price of EUR 4.35 per share confirmed
Madrid/Heidelberg, 31 October 2013 - SYGNIS AG (Frankfurt: LIO1; ISIN:
DE000A1RFM03; Prime Standard segment of the German Stock Exchange), the DNA
amplification and sequencing company, announced today that GBC Research, a
German independent research house focusing on listed small, and midcap
companies, has published a research update following the successful
completion of the Company's capital increase as of October 28, 2013.
With gross proceeds of EUR 2.7 million GBC sees the Company well financed
to drive its operating business and further growth. The subscription price
was EUR 2.65 per share. New shares that were not subscribed in the course
of the rights offering by existing shareholders were offered to selected
German and international institutional investors in a private placement at
a purchase price equivalent to the subscription price. In the transaction
1,019,309 new shares were subscribed against cash.
GBC forecasts that the transaction provides the Company with the financial
flexibility needed to further execute on its business plans and closes the
gap to break-even expected in 2014.
GBC confirmed the target price valuation of EUR 4.35 per share. The fair
value of the Company was determined on the basis of a DCF model, taking
into account the capital increase (post money). GBC's total valuation of
the Company is now at EUR 45 million, an increase compared with the initial
valuation in July of EUR 42.6 million. In light of the current price level
of 2.71 (XETRA closing price on 28/10/2013), GBC also confirmed their BUY
rating.
For further information please contact:
SYGNIS AGAbout SYGNIS AG: www.sygnis.com
Pilar de la Huerta
CEO/CFO
Tel: +34-918063089
Email: pdelahuerta(at)sygnis.es
After the merger in 2012 between X-Pol Biotech, specialising in DNA
amplification and sequencing, and SYGNIS AG, listed in the German Stock
Exchange (Prime Standard segment, Tick: LIO1; ISIN: DE000A1RFM03), SYGNIS'
new mission is to develop and distribute technologies and products from
X-Pol, which has a commercial product in the DNA amplification segment,
QualiPhi(R) and is currently developing other products in the field of Next
Generation Sequencing.
### Disclaimer
This publication is intended for information only and constitutes neither
an offer to sell nor an invitation to buy securities. Some statements
included in this press release, relating neither to proven financial
results nor other historical data, should be viewed as forward-looking,
i.e. not definite. Such statements are mainly predictions of future
results, trends, plans or goals. These statements should not be considered
to be total guarantees since given their very nature they are subject to
known and unknown risks and imponderability and can be affected by other
factors as a consequence of which the actual results, plans and goals of
SYGNIS AG may deviate greatly from the established conclusions or implied
predictions contained in such statements. SYGNIS does not undertake to
publicly update or revise these statements in the light of new information
or future results or for any other reason.###
End of Corporate News
---------------------------------------------------------------------
31.10.2013 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,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: SYGNIS AG
Im Neuenheimer Feld 515
69120 Heidelberg
Germany
Phone: 06221 454-6
Fax: 06221 454-700
E-mail: contact(at)sygnis.de
Internet: www.sygnis.de
ISIN: DE000A1RFM03
WKN: A1RFM0
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
237156 31.10.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 31.10.2013 - 11:48 Uhr
Sprache: Deutsch
News-ID 311289
Anzahl Zeichen: 9482
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 298 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: SYGNIS AG: GBC Research publishes Update on"
steht unter der journalistisch-redaktionellen Verantwortung von
SYGNIS AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
