Wapme Systems AG
Wapme issues new shares to obtain 75% stake in Lawa International Holding AG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
Wapme issues new shares to obtain 75% stake in the leading Swiss mobile service
provider Lawa International Holding AG (Zurich)
end of ad-hoc-announcement (c)DGAP 11.11.2004
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
In a transaction backdated to 1 July 2004 which includes profit entitlement,
Wapme Systems AG has taken over 75% of Zurich-based Lawa International Holding
AG, the leading mobile services provider in Switzerland. In return, LAWA’s
existing shareholders are to receive 2.9 million new shares from the authorised
capital of Wapme Systems AG. Wapme will assume the remaining 25% in the first
quarter of 2006. The sale is also to be reimbursed in the form of shares and is
dependent on Lawa International Holding AG reaching certain targets. The upper
limit has been set at 800,000 shares. The Lawa shareholders can therefore obtain
a maximum of 3.7 million Wapme Systems AG shares. A gradual lock-up period
extending to 30 June 2006 has been agreed.
Lava was founded in 1991 and offers mobile services for adults via its own
distribution channels in Switzerland, Austria, Germany and Poland. LAWA is one
of the most profitable companies of its kind in Europe, with a monthly volume of
350,000 SMS and 180,000 MMS messages and an average consumer price of 2 euros.
The company produces its own content. The amalgamation of the two companies will
allow the hitherto B2B-oriented wapme group to offer its own B2C content and
services.
The takeover of LAWA brings powerful additions to the wapme group’s management.
The LAWA founder Bruno Stettler is one of the best-known personalities in the
adult services field in Switzerland and the current CEO Oswald Ortiz is also a
former CEO of Tiscali Switzerland.
The aim of the newly restructured wapme group is to assume market leadership in
the distribution of mobile adult services in the German-speaking countries.
Using its market leadership in Switzerland as a springboard, the company can now
transfer its experience there to other European countries. According to a study
conducted by the Yankee Group, global annual sales of adult content for mobile
phones is set to rise from its to current figure of less than one billion US
dollars to $ 8 billion in 2008.
Some of the expenses arising from the acquisition have already been recognised
in the third quarter of 2004. These are affecting the 30 September 2004 income
on top of the restructuring costs. The takeover of the profitable Lawa group
will, however, have a positive impact on income in the 4th quarter of the
current financial year. As a result of this acquisition, the Q3/2004 results
will be published as of 30 November 2004.
For 2005, the Management Board is predicting group sales of roughly EUR 125
million and EBITDA (Earnings Before Interest, Taxes, Depreciation and
Amortisation) of EUR 4 to 4.5 million. The considerably higher margin of the
content sector into which the company is now positioning itself is the reason
for the increase in the income margin.
The Management Board
——————————————————————————–
WKN: 549550; ISIN: DE0005495501; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
111114 Nov 04
Aktuelle News
Aktuelle Berichte
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden