Ruggell, Liechtenstein – EQS Newswire – November 11, 2023 – United Terra Enterprises PLC (“UTP” or the “Company”) is pleased to announce that the Company held a General Meeting on October 25, 2023. During the meeting , a capital increase has been approved the issuance of 55,141,818 new Name shares of the Company (“Shares”). The Shares will be used to be exchanged for shares of Eurybia AG, Switzerland, pursuant to contribution-in-kind contracts concluded between the registered shareholders of Eurybia AG and UTP. Following this share exchange, UTP will hold a total of 137,306,639 Eurybia AG shares, representing 96.8% of the registered shares of Eurybia AG on this date. Following the General Meeting, other contribution in kind contracts were signed by the shareholders of Eurybia AG. Following the implementation of these additional agreements, UTP will hold a total of 139,498,194 Eurybia AG shares.
The capital increase was based on an expert report from BDO (Liechtenstein) AG and after completion of the capital increase, the Company will have a share capital of CHF 16,476,796.68 divided into 137 306,639 shares.
The Company intends to complete the share exchange for the remaining shareholders who choose to do so through an additional capital increase through the Board of Directors, which was approved at the General Meeting and will take place in the coming weeks.
Additionally, the board of directors and management were elected at the general meeting and details of their election will follow in a subsequent press release.
Company Chairman Hans-Peter Vogt said: “We are satisfied with the progress made so far, particularly with the establishment of the company, the appointment of the board of directors and management and the participation rate high of the shareholders of Eurybia AG to the exchange of shares. We see that previously unregistered shares have been registered and consider this a positive sign that more Eurybia AG shareholders are preparing to participate in the share exchange.
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Further informationcontact the Company either by email [email protected] or by telephone at +423 236 40 10.
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The issuer is solely responsible for the content of this announcement.
