EQS-Adhoc: NEON EQUITY AG plans to acquire First Move! AG as part of a non-cash capital increase to enter the automated parking and parking garage technology market

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NEON EQUITY AG plans to acquire First Move! AG as part of a non-cash capital increase to enter the automated parking and parking garage technology market

• Extraordinary General Meeting of NEON EQUITY to decide on capital increase in kind and change of name to “DN Deutsche Nachhaltigkeit AG”

Frankfurt am Main, September 27, 2024 - The Management Board of NEON EQUITY AG (“NEON EQUITY”, ISIN DE000A3DW408) today decided to convene an Extraordinary General Meeting of NEON EQUITY and to propose to it the resolution on the acquisition of 88% of the shares in the Swiss company First Move! AG (“First Move”) by way of a capital increase against contribution in kind under exclusion of shareholders' subscription rights (“Transaction”).

First Move has a patented parking and parking garage technology that achieves an increase in parking garage space productivity of over 100% compared to a conventional parking garage. The solution - which is also suitable for retrofitting - significantly reduces pollutant emissions and space requirements and also significantly increases the capacity for charging electric vehicles. The Management Board sees the opportunity to develop NEON EQUITY into a leading player in the rapidly growing market for “automated parking” in the medium term with this business model. The strategic focus of its business model on sustainable investments will be accompanied by the renaming of NEON EQUITY to “DN Deutsche Nachhaltigkeit AG”.

The resolution was immediately preceded by an agreement with the shareholders of First Move on the key points and the implementation of the transaction. SP 1 Equity GmbH, Frankfurt am Main (“SP 1”), which is also a major shareholder with a stake of more than 25% in NEON EQUITY, currently holds 88% of the shares in First Move to be contributed as a contribution in kind.

The intended capital increase against contributions in kind is to be carried out in return for the granting of 30,000,000 new NEON EQUITY shares to SP 1. The exchange ratio is to be approx. 340,909:1, i.e. SP 1 is to receive approx. 340,909 new NEON EQUITY shares for each First Move share. The exchange ratio is based, on the one hand, on an expert valuation of First Move of around EUR 118.8 million, whereby a lower valuation of EUR 89.1 million was agreed with SP1 of First Move for the transaction. On the other hand, the exchange ratio is based on a valuation of the new NEON EQUITY shares of EUR 2.50, i.e. a premium of around 58% percent on yesterday's closing price of NEON EQUITY shares in XETRA trading.

The implementation of the capital reductions resolved at the Annual General Meeting of NEON EQUITY on May 28, 2024 under agenda items 12 and 13 is uncertain due to an action for rescission. If the capital increase against contributions in kind is resolved by the Extraordinary General Meeting of NEON EQUITY, the aforementioned capital reductions would be canceled.