SPORTTOTAL AG: Annual General Meeting paves the way for financing growth
- Annual General Meeting approves new Authorised Capital and the issuance of convertible bonds
- Strategic focus on growth in the DIGITAL segment
Cologne, 23 June 2022. SPORTTOTAL AG’s Annual General Meeting which was held in a digital format this year as well has paved the way for financing the growth planned for SPORTTOTAL. In approving new Authorised Capital of approximately €15.4 million for the purpose of future capital increases, as well as for ensuring conversion options of bearer bonds already issued and any future convertible bonds in a total volume of around €9.3 million, the Annual General Meeting has enabled the company to finance its growth plans. This is impressive proof that the shareholders are still committed to the growth plans. All the proposals put forward by management were approved by a large majority of the voting capital present. As CEO Peter Lauterbach explained in his Management Board speech, SPORTTOTAL’s will be concentrating on promoting the growth of sporttotal.tv, the streaming platform for live sports events, in the coming months. In particular, the distribution cooperation signed with Telecom Deutschland for the fully automated SPORTTOTAL camera system based on artificial intelligence should make a contribution to a sustainable development. An additional focus in the DIGITAL segment will be placed on newly established Forty10 GmbH which, in its role as a media house for moving image production in the context of Telecom Deutschland’s MagentaTV, has been furnished with a multi-year agreement.
Similarly, the company’s shareholders approved the resolutions put forward by the Supervisory Board and the Management Board pertaining to the other items on the agenda with the necessary majority.
About SPORTTOTAL AG:
SPORTTOTAL AG (ISIN: DE000A1EMG56), headquartered in Cologne, is a technology and media company on a growth path in the rapidly scalable digital business with video platforms and communities, in the high-margin national and international project business, as well as in the live events business. The company, which was founded in 1979, operates a high-traffic portal through sporttotal, with strong growth for online sport videos and live streaming. The company equips sports clubs with special camera technology which enables sports events to be transmitted live in a high quality and fully automatically on sporttotal.tv. SPORTTOTAL AG’s service portfolio also comprises the technical equipping of racing circuits and sports facilities, as well as the production and marketing of sports events such as the ADAC TOTAL 24-Hour Race at the Nürburgring. In addition, SPORTTOTAL AG also produces content for prestigious companies such Porsche, Audi, Mercedes/AMG, Red Bull and VW, operates the linear #dabeiTV station, and organises high-calibre live events such as the Porsche Experience.
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