Annual general meeting of Lotto24 AG


Lotto24 AG / Key word(s): AGM/EGM

07.08.2013 / 13:38


Press release

Annual general meeting of Lotto24 AG

- Management sees Company well prepared for future growth

(Hamburg, 7 August 2013) Lotto24 AG today concluded its first AGM successfully. With 62% of voting rights represented at the meeting, all resolutions on the agenda were adopted by a large majority, including release of the Board and Management for the results of the 2012 financial year, as well as the approval for an increase in the authorized share capital.

Looking back at 2012 and the first six months of the current financial year, Management is pleased with the development of the Company since its spin-off from Tipp24 SE. In a difficult regulatory environment, all milestones that form the foundation of the Company were met. As one of the first private online lottery brokers, the Company received the combined lottery brokerage permit on 24 September 2012 and immediately commenced with its online offering. As of October, ten of the country's federal states were successfully covered. Also in October, the Company received certification for its proprietary and innovative age-verification system. In December, following receipt of an expansion of its brokerage permit, Lotto24 was the first to commence with integrated Lotto-shops through partner sites on Web.de and GMX.

At the time of its going public in July 2012, the Company stated its objective of being able to market its online Lotto offering nationwide within twelve months. This objective was met ahead of time, when in March 2013 Lotto24 received the advertising permit and commenced its online marketing campaign. 'All early indicators show that consumers behave as our experiences up to 2008 showed, and as we expected', stated CFO Magnus von Zitzewitz. 'We therefore believe our business model is valid and that we are at the start of a period of dynamic growth'.

In order to provide room for maneuver, Management and Board had proposed to shareholders at the AGM to increased the Company's authorized share capital. 'One of the key success factors in gaining share of a young and dynamic market, is the ability to penetrate the market quickly', stated Petra von Strombeck. 'The increase in the authorized share capital provides us with greater potential means, which we can utilize to increase our marketing efforts and thereby accelerate our market penetration. The market will be divided in the coming years. In many areas, we are ahead of the competition and we want to defend this advantage. With the backing from our shareholders, we are well equipped to do so.'

About Lotto24 AG: Lotto24 AG (formerly Tipp24 Deutschland GmbH) was founded by Tipp24 SE in 2010 in order to resume the commercial online brokerage of games of chance in Germany. Following the successful spin-off from its parent company, Lotto24 AG has been listed as an independent company on the Prime Standard segment of the Frankfurt Stock Exchange since 3 July 2012. Lotto24 AG focuses on brokering state-licensed lottery products, such as 'Lotto 6aus49', 'Spiel 77', 'Super 6', 'EuroJackpot' and 'Glücksspirale' via the Internet (www.lotto24.de). Lotto24 enters into gaming contracts with the respective lottery companies on behalf of and in the name of the game participant. Lotto24 aims to become Germany's leading online broker of lottery products.

Press contact:
Lotto24 AG
Frank Schwarz

Tel.: +49 (0) 611 / 1745 398 0
E-mail: ir@lotto24.de
Internet: www.lotto24-ag.de



End of Corporate News


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224689  07.08.2013
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