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BRIEF-TTL Information Technology: refinancing and balance sheet reconstruction
November 7, 2016 / 7:37 AM / in a year

BRIEF-TTL Information Technology: refinancing and balance sheet reconstruction

Nov 7(Reuters) - TTL Information Technology AG :

* Said on Friday had agreed with AR Holding GmbH on an agreement on refinancing and balance sheet reconstruction of TTL Information Technology

* AR Holding GmbH has committed itself, within framework of a planned capital increase of TTL, to subscribe in capital increase with exclusion of shareholders’ subscription rights, to 1.25 million new shares of TTL at issue price of 1.00 euro per share

* As consideration other than in cash, approx. 12.5 pct interest in DIC Capital Partners (Europe) GmbH will be introduced

* TTL expects future profit distributions from this shareholding that will enable it to meet its liquidity requirements in the medium term

* As a result of the capital increase, the reported equity of TTL is expected to rise to approx. 4.8 million euros

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