PopNet Internet AG
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Large investor takes strategic stake in PopNet Internet AG
Hamburg, 14th of March 2001 – PopNet Internet AG (PNZ, securities
identification number 622 810), one of Europes leading eBusiness
enablers, has acquired the participation of a large British investor
group GEM Global Yield Fund. The future-oriented structure of the
PopNet group of companies prompted GEM Global Yield Fund to
purchase EUR 10 million worth of PopNet shares. This strategic
stake further increases the pool of funds available to PopNet
for its profit-oriented expansion strategy.
GEM Global Yield Fund will meet its subscription obligation in
successive installments, in accordance with a timetable specified
by PopNet. The subscription will take the form of capital
increases without any preemptive rights, and will be based on
the prevailing share price.
PopNet is on target to reach the break-even point in the fourth
quarter of 2001. This prognosis is supported by PopNet Internet
AGs strong order levels, its portfolio of customers, and the
companys focus on its core competence of eBusiness. For the
2001 financial year, PopNet is expecting to increase sales by
more than 160% to EUR 51.3 million, up from an anticipated EUR
19.2 million in 2000.
For more information, contact:
Investors:
Janice Buchholtz
Head of Investor Relations
Tel: +49 (0)40 – 27827-269
Fax: +49 (0)40 – 27827-199
eMail: j.buchholtz@popnet.de
Media:
Kathrin Heider
Head of Corporate Communications
Tel: +49 (0)40 – 27827-149
Fax: +49 (0)40 – 27827-199
eMail: k.heider@popnet.de
Internet: www.popnet.de
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