UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, issues a convertible bond in the amount of 2 million EUR. The convertible bond has a fixed term of 3 years and grants the right for a conversion into into equity by issuing new shares. In the event of full repayment, interest and principal become due at the end of the term in 3 years.
This strategic financial measure improves cash flow. The new funds available from the convertible bond will be used for the expansion and development of business areas and thus for investments. UET AG will increase its investments in the areas of energy efficiency and sustainability in the future.
The convertible bond will be taken over by two existing investors of UET AG. CEO Werner Neubauer also invests via an investment vehicle to provide new capital.
“Investments in sustainable business opportunities make sense and are promising further development options for our group,” says Werner Neubauer. “The convertible bond provides us with attractive financing to drive our expansion. We have already had positive experience with this financial instrument in recent years.” Currently, there is already a convertible bond of EUR 3 million available for conversion or repayment at the option of the bondholders.
About UET United Electronic Technology AG
UET United Electronic Technology AG is an international technology company with hardware, software and service systems for the establishment and operation of telecommunications networks for secure, energy-efficient and sustainable digitization. Sustainability is a central part of the business model. The UET Group has as a value chain with research and development, supply chain and service. Systems and services are used by customers such as Deutsche Telekom, Orange, Telecom Italia, A1 Telekom Austria and América Móvil. The UET Group is the only international systems supplier for critical communications infrastructure with European research, development and production and headquarters in Germany. The UET Group has been listed on the German Stock Exchange since 2006. With an annual growth rate of 20 percent, its 250 employees in eight countries generate revenues of around 60 million euros.
UET United Electronic Technology AG
D-65760 Eschborn, Frankfurter Straße 80-82
Sebastian Schubert, Investor Relations
Tel: + 49 (0) 6196 7777550