LetsBuyIt Group AG
LetsBuyIt Group AG: Resumption of share trading
LetsBuyIt Group AG / Key word(s): Miscellaneous 23.10.2012 / 12:48 --------------------------------------------------------------------- LetsBuyIt Group AG: Resumption of share trading Zurich/Frankfurt, October 23, 2012 - LetsBuyIt Group AG hereby informs the public that trading in its shares (WKN / ISIN: A1J4YT / CH0196151853) has been resumed on the Frankfurt Stock Exchange as of today's date. For security technical reasons, the share of LetsBuyIt Group AG had been suspended from trading since 27 July 2012. During this time, the company has successfully implemented a number of organisational topics now facilitating the targeted further development of its business model. These measures include initial changes in the composition of the company's Administrative Board, from which Erika Gasser has retired. Further changes due to be implemented in the near future are currently being considered. Furthermore, the reverse split for the share at a ratio of 8:1 has been implemented in a protracted security technical process. As a result, the share's par value has increased from CHF 0.17 (approx. EUR 0.14) to CHF 1.36 (approx. EUR 1.12). This is also the reason for the significantly higher current share price. Given the overall impact of these measures, the company has laid significant foundations for maintaining its share listing in the open market of the Frankfurt Stock Exchange on a long-term basis. In this respect, the company is aiming to be accepted into the Entry Standard segment by the end of the year. The company expects a well-functioning access to the capital market to produce substantial advantages in terms of its ongoing corporate financing, ultimately benefiting a sustainable business performance. About LetsBuyIt.com: LetsBuyIt.com is a platform providing online price comparison and social shopping services. LetsBuyIt is currently active in France, Germany and United Kingdom with three different website versions. The company currently reports in its websites over 50 million products sold by more than 1,500 different merchants. LetsBuyIt makes continuous and live updates of its product database and indexes new merchants with their products on a daily basis. LetsBuyIt allows customers to purchase products at the lowest possible price by providing on its website all the actual best practices of online shopping. The aim of the Company is to become the leading shopping portal and an e-commerce online community meeting point. Indeed, distinctive features of LetsBuyIt are the social tools which give customers the opportunity to exchange opinions on their buying experiences, products etc. End of Corporate News --------------------------------------------------------------------- 23.10.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 189779 23.10.2012
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