cyan AG: Resolution to carry out a capital increase
cyan AG / Key word(s): Capital Increase
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Munich, November 15, 2021 - The Executive Board of cyan AG today resolved, with the consent of the Supervisory Board, to exercise part of the existing authorized capital to increase the Company's share capital in the amount of EUR 12,408,431.00 by up to EUR 977,453.00 to up to EUR 13,385,884.00 by issuing up to 977,453 new no-par value bearer shares with a nominal value of EUR 1.00 (the "New Shares") against cash contributions. The New Shares will be issued at an issue price of EUR 1.00 per share and at a placement price of EUR 4.15 per share. The New Shares shall carry full dividend rights from January 1, 2021. Shareholders' subscription rights are excluded pursuant to Sec. 4 (3) Sentence 4 Alt. 2 of the Articles of Association of the Company.
The New Shares will be offered exclusively to institutional investors in a private placement.
Information and Explanation of the Issuer to this News:
cyan AG is a leading, globally active provider of intelligent cyber security solutions and platforms (BSS/OSS) for telecom companies with more than 15 years of experience in the IT industry. The company's main business areas are IT security solutions for end customers of mobile and fixed network internet providers (MNO, ISP), mobile virtual network operators (MVNO) and financial service providers. The solutions provided by cyan are integrated as white label product into the infrastructure of the business partners, who then offer them to their end customers in a B2B2C model, under their own brand.
Today the group has numerous international customers, through which cyan's products are distributed to end customers. In the process cyan can offer a range of solutions along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own research & development center with the aim of identifying industry trends at an early stage and developing optimal product solutions. In December 2018, cyan won a global group contract with Orange as a result of an inter-national tender process. Besides Orange, cyan's customers include among others Claro Chile (América Móvil Group) as well as the telecom group Magenta (T-Mobile).
Further information is available at www.cyansecurity.com.
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