SimCorp decides to issue new shares in connection with the acquisition of APL Italiana S.p.A.
As announced earlier in Company Announcement No. 28/2017, SimCorp has planned issuance of shares as part of the acquisition of APL Italiana S.p.A. Today, SimCorp's Board of Directors has decided the following:
SimCorp will issue new shares directed towards Carlo Alberto Spinicci, Lorenzo Cavalleri and Ferrante Gaetani dell'Aquila d'Aragona, which in total will subscribe for SimCorp shares at the amount of EUR 10m.
The new shares will be subscribed for by contribution of shares in APL Italiana S.p.A. The subscription price has been determined as the market price of SimCorp's shares. Contrary to what was stated in company announcement 28/2017, the market price has been calculated based on the average closing price of SimCorp A/S' shares on Nasdaq Copenhagen A/S for the 5 (five) trading days following SimCorp A/S' publication of the execution of the agreement 29 June 2017, i.e. during the period 30 June 2017 - 6 July 2017, both days inclusive. The subscription price per share of nominal DKK 1 is DKK 389.84.
The total shares will be issued are as follows:
| Name of subscriber | Number of shares in SimCorp (nominally) | Subscription Price DKK (*) |
| Carlo Alberto Spinicci | 63,589 | 24,789,535.76 |
| Lorenzo Cavalleri | 63,589 | 24,789,535.76 |
| Ferrante Gaetani dell'Aquila d'Aragona | 63,589 | 24,789,535.76 |
(*) Converted at a Euro conversion rate of 7.4369.
The new shares will be issued by SimCorp's Board of Directors pursuant to authority granted by SimCorp's shareholders at the extraordinary general meeting on 26 April 2017. The new shares will be issued against contribution in kind without any pre-emptive rights for SimCorp's existing shareholders, and no person or entity other than the above persons will participate in the private placement. The subscription price for the shares is payable by contribution of the shares in APL Italiana S.p.A. on the closing date, expected to be held on 1 August 2017 and no later than on 1 September 2017.
The new shares will carry the same rights as all other shares issued by SimCorp. The new shares will be freely transferable, negotiable instruments and entitle the holders to receive dividend from the date of the issue. Under the terms of the share purchase agreement, the sellers of APL Italiana S.p.A. have accepted certain restrictions on the sale and transfer of the shares, including a lock-up period.
When the new shares have been issued upon expiry of the subscription period and after registration with the Danish Business Authority, an application for admission to trading and listing of the new shares on Nasdaq Copenhagen will be submitted. Registration with the Danish Business Authority is expected to take place on or around 1 August 2017 and the first trading day is expected to be shortly thereafter.
Since the issuance involves less than 10 per cent of SimCorp's shares, no prospectus will be prepared.
The new shares are issued under an agreement for SimCorp's acquisition of APL Italiana S.p.A., see SimCorp's Company Announcement No. 27/2017 of 29 June 2017 for further details.
Enquiries
Investor contacts:
Søren Strøm, Chief Financial Officer (Interim), (+45 3544 6853, +45 2019 3144)
Media contact:
Anders Crillesen, Group External Communications Manager, (+45 3544 6474, +2779 1286)
About APL Italiana S.p.A.
APL Italiana S.p.A is a leading provider of investment and portfolio management software for the Italian insurance market based on its SOFIA platform. Founded in 1983, the company employs around 120 people with main office in Milan, and office locations in Trieste, Pistoia and Paris. For more information about APL Italiana S.p.A., please visit www.apl.it
About SimCorp
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world's leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp's advanced software provides global financial organizations with the tools they need to mitigate risk, reduce cost and enable growth. SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX Nordic, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors. For more information about SimCorp, please visit www.simcorp.com.
Company Announcement no. 30/2017