2023: Adhoc: Cogia AG reaches agreement with mVISE AG on the sale of elastic.io GmbH

Frankfurt am Main, 29 November 2023 - Cogia AG (ISIN DE000A3H2226) has settled the legal dispute with mVISE AG arising from the purchase agreement concluded on 8 September 2021 for the sale of the shares in elastic.io GmbH together with shareholder loans in its entirety by means of a court-approved settlement. The outstanding amount was set at EUR 1.4 million and is therefore 50% below the total outstanding purchase price for 100% of the shares.

Cogia AG may fulfil the purchase price debt by procuring shares in VCI Global Ltd (Hong Kong, NASDAQ VCIG) with a value of EUR 1.4 million until 31 May 2024, which may have a maximum lock-up period of 12 months; any loss in value of the shares after expiry of any lock-up period must be compensated by cogia AG in cash or with further tradable shares in VCI Global Ltd. In addition, mVISE AG was granted a call option for 25.1% of the shares in cogia GmbH, which can be exercised as an alternative to payment of the purchase price in cash or the procurement of shares in VCI Global Ltd.

For cogia AG, this settlement means that, taking into account the purchase price components paid to date, a purchase price reduction to 65% of the originally agreed purchase price for 100% of the shares has been achieved.

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