In connection with the rights issue (public offer) for shares of UMT United Mobility Technology AG (German Securities ID: 528610, ISIN: DE0005286108), 485,900 new shares in the company were subscribed by and allotted to shareholders in the period from 7 July 2014 to 21 July 2014 by means of statutory subscription rights and regular over-allotment. In addition, 976,667 shares were placed with institutional investors as part of a private placement. UMT United Mobility Technology AG also has subscription declarations from strategic investors for 10,000,000 new shares in the company at a price of EUR 1.50 a share.The Management Board will decide soon as to consideration of this offer in the interests of the company as it understands them and with due regard for current business developments which decisively increase the company's valuation, as well as the major strategic importance of acquisition of a large block of shares. The capital increase is expected to be entered into the Commercial Register by 31 July 2014.
"I am very pleased with the trust displayed by our shareholders and the positive reception from strategic investors. We will use the additional capital to further develop and strengthen our existing partnerships and collaborations and to promote investments along the mobile technology value chain. The focus will continue to be on our mobile payment application, iPAYst, including all product features in the areas of sales, loyalty and payment," declared Albert Wahl, CEO of UMT United Mobility Technology AG.