YOUR FAMILY ENTERTAINMENT AG
EQS-News: Your Family Entertainment AG
/ Key word(s): Corporate Action/Capital Increase
Corporate News Your Family Entertainment AG resolves capital increase of up to 10% Munich, June 20, 2024 - The Management Board and Supervisory Board of Your Family Entertainment AG (YFE), Munich, (ISIN DE000A161N14) have decided to carry out a capital increase of up to 10% of the share capital with the exclusion of subscription rights. This measure is carried out by partially utilizing the Authorized Capital 2022 and is in line with the ad hoc announcement already published by YFE on February 1, 2024. The share capital of YFE is to be increased from EUR 15,313,196 to up to EUR 16,736,660 by issuing up to 1,423,464 new no-par value shares. The new shares are to be placed with selected investors as part of a private placement. The placement price of the new shares is EUR 3.00 per share. The new shares are entitled to dividends from January 1, 2024. The company expects gross issue proceeds of up to EUR 4.3 million from the capital measure. The issue proceeds are to be used in particular to build up capacities, expertise and partnerships in the field of artificial intelligence (AI) as well as for potential new productions and new products from the YFE rights catalog. YFE intends to use the funds from this capital increase to take advantage of the opportunities offered by artificial intelligence (AI) to further increase the number of language versions and thus the reach of the children's program. Through the use of AI technologies, YFE plans to create new markets overall, e.g. to create new high-quality language versions through AI-supported dubbing and thus open up new regional markets. In addition to overcoming language barriers, the award-winning content will also be made accessible through subtitling and audio description. Quality assurance ensures that the high language quality of the dubbing is maintained and even improved to meet the highest standards. In addition, AI technology allows the extensive YFE library to be digitally reworked and new, high-resolution and noise-free versions in the highest image quality (4K) to be created and marketed worldwide. In future, operational TV and digital channel management is to be carried out digitally with the help of AI, thus enabling considerable scaling of capacities both nationally and internationally. The aim is to further consolidate YFE as a leading provider of family-friendly entertainment and to tap into considerable new sales and growth potential. This transformation of YFE into a technology-driven media company, based on one of the largest rights catalogs for family entertainment in German-speaking Europe, is taking place gradually and with clearly defined milestones. Small & Mid Cap Investmentbank AG, Munich, will offer the new shares to selected investors as part of the private placement. The capital increase is to be entered in the commercial register by November 30, 2024 at the latest.
About Your Family Entertainment AG
Contact: www.yfe.tv
20.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Your Family Entertainment AG |
| Türkenstraße 87 | |
| 80799 München | |
| Germany | |
| Phone: | +49 (0)89 997 271-0 |
| Fax: | +49 (0)89 997 271-91 |
| E-mail: | ir@yfe.tv |
| Internet: | www.yfe.tv |
| ISIN: | DE000A161N14 |
| WKN: | A161N1 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart |
| EQS News ID: | 1929925 |
| End of News | EQS News Service |
1929925 20.06.2024 CET/CEST
