DGAP-Ad-hoc: Red Rock Capital AG / Key word(s): Share/company share/forecast revision
Red Rock Capital AG is restructuring itself for the short-term start of the operative business: Sale of the subsidiary Red Rock Beteiligungs GmbH leads to a significant reduction in losses for the 2019 financial year
18.12.2019 / 14:55 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad-hoc Disclosure pursuant to Art. 17 Market Abuse Regulation
Red Rock Capital AG is restructuring itself for the short-term start of the operative business: Sale of the subsidiary Red Rock Beteiligungs GmbH leads to a significant reduction in losses for the 2019 financial year
Langenhagen – Hanover, 18 December, 2019 – Red Rock Capital AG (ISIN DE000A1RFML1) today notarised the sale of the direct subsidiary Red Rock Beteiligungs GmbH, including existing subsidiaries. The reason for the sale is that the implementation of the original strategy is delayed so much that the short-term implementation of a certificate placement over 100 million euros is no longer expected.
At the same time, indirect shares, which are still considered necessary for the short-term start of operations, have been bought from Red Rock Beteiligungs GmbH recently and have been integrated as direct shares in the group of companies. The “new” direct subsidiaries cover the fields of liquidity procurement and construction projects. In addition, a new subsidiary for existing real estate was founded. The aim is to both acquire existing properties and to approach the first construction projects within the next 6 months. This is supposed to generate sufficient cash flow to cover the ongoing costs of Red Rock Capital AG in the future.
The sale of the shares results directly in a positive effect of earnings in 2019. Instead of the previously expected negative earnings (EBIT) of 650 to 750 TEUR for the 2019 financial year, the Management Board now expects an improvement of figures by 250 to 300 TEUR, but still a negative EBIT in a range of 350 to 500 TEUR.
Contact:
Red Rock Capital AG
Roland Schreiber, Board
Rotekreuzstraße 33
30627 Hanover
Germany
Phone: +49 (0)511 5910 8894
Fax: +49 (0)511 6743 1958
Email: info@redrock-capital.ag
Web: www.redrock-capital.ag
