The Social Chain AG

  • WKN: A1YC99
  • ISIN: DE000A1YC996
  • Land: Deutschland

Nachricht vom 06.12.2019 | 17:20

Social Chain AG takes over interior brand Urbanara

DGAP-Media / 06.12.2019 / 17:20

Media Release

Social Chain AG takes over interior brand Urbanara

- Innovative Direct-to-Consumer-Brand for home and living accessories

- After successful turnaround profitable since 4th quarter 2019

- Wanja S. Oberhof: "Ideal addition to the Social Media Brands concept of the Social Chain AG"

Berlin, 6 December 2019. The Social Chain AG (WKN: A1YC99) acquires 100 percent of the shares of Urbanara GmbH from Odyssee Holding GmbH. The purchase of the home accessories specialist will be financed by a capital increase agreed on today by the Management Board of Social Chain AG with the approval of the Supervisory Board. To become effective, the transaction still requires the entry of the capital increase in the commercial register.

Urbanara markets its own interior products under the brands "Urbanara" and "Urbanara Terra" directly to end customers via and many other online platforms. Turnover in the 2018 financial year amounted to EUR 7.7 million. Urbanara GmbH employs around 30 people. After a successful turnaround, Urbanara has been operating sustainably profitably since the 4th quarter of 2019.

Wanja S. Oberhof, Co-CEO of Social Chain AG: "Urbanara's own-brand concept fits perfectly with the strategic objective of Social Chain AG to market its own brands with the power of social media. Through our integrated understanding of social media and social commerce, we will further develop the Urbanara brands into real social media brands." Social media brands are inspired, developed, loved and promoted through social media. They are brand, community, medium and product all in one. This enables social media brands to be developed in line with demand, produced faster and marketed more efficiently than traditional brands and products.

The purchase price for Urbanara amounts to EUR 3.91 million. It will be paid through the issue of new shares. The capital increase will take place against contribution in kind and will make partial use of existing authorised capital. The share capital of Social Chain AG will increase from EUR 9,944,118 to EUR 10,114,118 through the issue of 170,000 new registered shares. Odyssee Holding GmbH, the sole shareholder of URBANARA GmbH, Berlin, is authorised to subscribe for the new shares to be issued. The new shares will be issued at a price of EUR 23.00 each.

Jana Walker | Senior Corporate & Brand PR Manager | E: |
T: +49 30 208 48 40 28

About The Social Chain AG

As the first integrated social media company, THE SOCIAL CHAIN AG combines social media and social commerce, integrated through its own tech platform LINKS. SOCIAL CHAIN is a pioneer in the creation, development and scaling of social media brands. The company's headquarters are in Berlin with additional offices in Manchester, London, New York and Munich. The company has a total of around 500 employees. Share of Social Chain AG are traded on XETRA and the Düsseldorf Stock Exchance.

More information under:

The content of this press release is for information purposes only and does not constitute investment advice or other recommendation within the meaning of the German Securities Trading Act by The Social Chain AG or its affiliated companies. The content provided cannot replace investment advice.

The contents of this press release are not to be understood as an assurance of any price developments and should not be understood as an invitation to enter into a transaction. Its content does not constitute an offer to sell or an advertisement for an offer to sell securities or rights, nor an invitation to trade in securities or rights.

Accordingly, The Social Chain AG and its affiliates make no representations or warranties as to the accuracy, completeness or correctness of the information or opinions contained herein. We accept no liability for direct or indirect damage caused by the distribution and/or use of this document and/or in connection with the distribution and/or use of this document. The statements are as of the date of this document. They may be outdated due to future developments without the document being amended.

End of Media Release

Issuer: The Social Chain AG
Key word(s): Enterprise

06.12.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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