Ad-hoc: Issue price for subsidiary STS Group AG at EUR 24 per share

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Mutares AG (ISIN: DE000A0SMSH2) expects its subsidiary STS Group AG to be listed on the regulated market of the Frankfurt Stock Exchange (Prime Standard) on 1 June 2018. STS Group AG (www.sts.group) is an international system supplier for the entire automobile industry, especially the commercial vehicle segment.

Mutares AG, which has been the sole shareholder up to now, has set today the offer price at EUR 24 per share in consultation with STS Group AG and the IPO syndicate banks. Against the background of the challenging market environment on today’s price fixing the issuance of the offered shares is thus slightly below the original price range of EUR 26 to EUR 32 per share.

In total, 2,300,000 STS Group AG shares were placed. Of this amount, 1,000,000 shares came from a capital increase against cash contributions and a further 1,000,000 shares from the portfolio of Mutares AG. In addition, 300,000 shares were issued from the holdings of Mutares AG in connection with a surplus allocation. Based on the final offer price, the total placement volume is approximately EUR 55 million. Of this amount, STS Group AG received EUR 24 million gross. Mutares AG will generate gross issue proceeds of approximately EUR 31 million by fully exercising the greenshoe option.

Free float stands at 38% of the share capital, assuming that the greenshoe option is exercised in full. Mutares AG will remain the strategic majority shareholder (62%) of STS Group even after the IPO. A 12-month lock-up period from the day of the first listing applies to both STS Group AG and Mutares AG.

The IPO was accompanied by Hauck & Aufhäuser Privatbankiers Aktiengesellschaft as sole global coordinator, in collaboration with MAINFIRST BANK AG as joint bookrunners.

Company profile of Mutares AG

Mutares AG, Munich (www.mutares.de), acquires medium-sized companies and parts of groups that are sold during a repositioning and have a clear potential for operational improvement. Mutares actively supports develops its portfolio companies with its own investment and expert teams as well as through acquisitions of strategic add ons. The aim is to achieve a significant increase in value focusing on sustainable growth of the portfolio company. Mutares AG shares are traded on the Frankfurt Stock Exchange under the symbol “MUX” (ISIN: DE000A0SMSH2).