GBC Research publishes Update on Successful Completion of SYGNIS AG Capital Increase
(Thomson Reuters ONE) -
SYGNIS AG /
GBC Research publishes Update on Successful Completion of SYGNIS AG Capital
Increase
. Ad hoc announcement according to § 15 WpHG. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
* Capital increase strengthens liquidity and finances further growth
* Break-even expected in 2014
* Buy rating and target price of ? 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 ?
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 ? 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 AG
Pilar de la Huerta
CEO/CFO
Tel: +34-918063089
Email: pdelahuerta(at)sygnis.es
About SYGNIS AG: www.sygnis.com
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(®) 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.###
Press Release (PDF):
http://hugin.info/150277/R/1739590/583950.pdf
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originality of the information contained therein.
Source: SYGNIS AG via Thomson Reuters ONE
[HUG#1739590]
Unternehmensinformation / Kurzprofil:
Datum: 31.10.2013 - 12:10 Uhr
Sprache: Deutsch
News-ID 311461
Anzahl Zeichen: 4676
contact information:
Town:
Heidelberg
Kategorie:
Business News
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