{"id":94,"date":"2020-04-28T19:29:00","date_gmt":"2020-04-28T19:29:00","guid":{"rendered":"https:\/\/press.lotto24.de\/investors\/?p=94"},"modified":"2023-11-26T19:30:56","modified_gmt":"2023-11-26T19:30:56","slug":"invitation-to-annual-general-meeting-2020-of-lotto24-ag-to-vote-inter-alia-on-ordinary-capital-reduction-and-consolidation-of-shares-in-a-ratio-15-to-1","status":"publish","type":"post","link":"https:\/\/www.lotto24.de\/investors\/en\/invitation-to-annual-general-meeting-2020-of-lotto24-ag-to-vote-inter-alia-on-ordinary-capital-reduction-and-consolidation-of-shares-in-a-ratio-15-to-1\/","title":{"rendered":"Invitation to Annual General Meeting 2020 of Lotto24 AG to vote, inter alia, on ordinary capital reduction and consolidation of shares in a ratio 15 to 1"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><br>(Hamburg, 28 April 2020) The Management Board and the Supervisory Board of Lotto24 AG today decided to propose to the Annual General Meeting of Lotto24 AG scheduled for 17 June 2020 to implement an ordinary capital reduction pursuant to Sec. 222 et seqq. German Stock Corporation Act and a consolidation of the shares of the Company. The proposed resolutions provide for a reduction of the share capital of Lotto24 AG from EUR 24,154,890 to EUR 1,610,326. Accordingly, the issued 24,154,890 shares of Lotto24 AG shall be merged in a ratio of 15 to 1 to 1,610,326 shares. From fifteen existing no-par value registered shares, one new no-par value registered share with a notional amount in the share capital of EUR 1.00 would thus be created.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The capital reduction serves for the full reduction amount to be booked to the capital reserves of the Company. Due to the balance sheet loss existing as of 31 December 2019 of EUR 2.097 million and the deferred tax assets of EUR 19.853 million, no dividends can currently be distributed for the time being, despite expected future net profits. By reducing the share capital and transferring the amount to the capital reserves, an offsetting item is being created which will enable dividend distributions to be made in the foreseeable future in the event of future net profits.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The complete invitation to the Annual General Meeting of Lotto24 AG, including the agenda, will be published shortly in the Federal Gazette and on the Company&#8217;s website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Hamburg, 28 April 2020) The Management Board and the Supervisory Board of Lotto24 AG today decided to propose to the Annual General Meeting of Lotto24 AG scheduled for 17 June 2020 to implement an ordinary capital reduction pursuant to Sec. 222 et seqq. German Stock Corporation Act and a consolidation of the shares of the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":71,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-94","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Invitation to Annual General Meeting 2020 of Lotto24 AG to vote, inter alia, on ordinary capital reduction and consolidation of shares in a ratio 15 to 1 - LOTTO24 Investors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lotto24.de\/investors\/en\/invitation-to-annual-general-meeting-2020-of-lotto24-ag-to-vote-inter-alia-on-ordinary-capital-reduction-and-consolidation-of-shares-in-a-ratio-15-to-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Invitation to Annual General Meeting 2020 of Lotto24 AG to vote, inter alia, on ordinary capital reduction and consolidation of shares in a ratio 15 to 1 - LOTTO24 Investors\" \/>\n<meta property=\"og:description\" content=\"(Hamburg, 28 April 2020) The Management Board and the Supervisory Board of Lotto24 AG today decided to propose to the Annual General Meeting of Lotto24 AG scheduled for 17 June 2020 to implement an ordinary capital reduction pursuant to Sec. 222 et seqq. 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