At an extraordinary general meeting on Wednesday, the shareholders of Fashionette AG approved the already announced merger with The Platform Group GmbH & Co. KG from Wiesbaden.
The shareholders accepted the proposed resolutions from major shareholder The Platform Group with very large majorities, the Düsseldorf online fashion retailer Fashionette announced on Wednesday. Around 97 percent voted for the capital increase in kind, with around 53.38 percent of the share capital being represented at the time of the vote.
“As a result of the around 97 percent support from the general meeting to combine the activities of both companies, a new platform company will be created on the stock exchange with the future The Platform Group AG,” said Dominik Benner, CEO of fashionette AG. “We are highly profitable, growing in an ambitious environment and actively investing in software development.”
The platform will be brought into Fashionette AG as part of a capital increase through a non-cash contribution of 11 million euros. The merger will take place on the basis of an expert opinion from the auditor Russler GmbH. Accordingly, a value of 155.6 million euros was determined for The Platform Group and a value of 87.1 million euros for Fashionette. The company resulting from the merger will then have a share capital of more than 17 million euros.
“With 17 industries – both B2C and B2B – we are broadly positioned and over 5,200 partners are live with us. We will continue Fashionette’s successful activities and accelerate them by entering the platform business with luxury fashion, which will start at the end of September,” said Benner,