Key Developments: Magix AG (MGXGn.F)
2.25EUR
17 May 2013
€0.09 (+4.12%)
€2.17
€2.16
€2.25
€2.16
800
5,288
€2.47
€1.78
Latest Key Developments (Source: Significant Developments)
Magix AG Gives Details on Special Distribution of EUR 1.12 Per Share
Magix AG announced that the planned special distribution of EUR 1.12 per share, which was decided by the regular shareholders' meeting of MAGIX AG on March 16, 2011, will now commence on March 28, 2012. After the district court had revoked the ruling made by Charlottenburg municipal court on May 18, 2011, the municipal court entered the resolutions into the commercial register on September 26, 2011. Although this constitutes an entitlement to the payout, the payout may not be effected immediately due to the stipulations of the stock corporation law. Far more, the payment may only be effected following a creditor protection period of six months after publication of the entry into the commercial register regarding the reduction of capital, and after any creditors who may have spoken up have been guaranteed satisfaction or security. Full Article
District Court Clears Path for Special Distribution of Magix AG
Magix AG announced that the entry into the commercial register regarding the capital measures necessary for the planned special distribution of EUR 1.12 per share, which was decided by the regular shareholders' meeting in March 2011, has now been cleared to go ahead. The district court has revoked the judgment made by the municipal court on May 18, 2011, and has instructed the municipal court to enter into the register the resolutions concerning the nominal capital increase resulting from the capital reserve, as well as the subsequent reduction of nominal capital. The special distribution requires that the capital measures are recorded in the commercial register. All shares with the ISIN DE 0007220782 that were held in securities accounts at the close of the market on the day prior to the distribution would be eligible to participate in the special distribution. These shares would therefore be traded with the right to the special distribution from the moment the capital reduction is entered into the commercial register until the last trading day prior to the day of payment. Shares created after entry of the capital reduction into the commercial register would not participate in the special distribution and may be identified by a separate ISIN. Full Article
Magix AG Issues Q4 2010/2011 and FY 2011/2012 Forecast; FY 2011/2012 Revenue Guidance In Line with Analysts' Estimates, FY 2011/2012 EBIT Guidance Below Analysts' Expectations
Magix AG announced that against the background of declining private consumption and the resulting revenue development especially in the third quarter in German-speaking retail, the Group's management expects revenue to drop moderately in the current financial year 2011/2012. Revenue in the fourth quarter of 2010/2011 is expected to reach the previous year's level at approximately EUR 10.8 million, the annual revenue is thus estimated to amount to approximately EUR 36.0 million and EBIT to approximately EUR 4.2 million. With growing revenue, a correspondingly higher result is expected for the upcoming fiscal year 2011/2012. According to I/B/E/S Estimates, the analysts on average are expecting the Company to report revenue of EUR 35.00 million and EBIT of EUR 4.00 million for the fiscal year 2011/2012. Full Article
Magix AG Lowers FY 2010/2011 Forecast
Magix AG announced that the figures previously estimated by Management Board for revenue and results in the current financial year 2011 can no longer be achieved. Revenue for the fourth quarter of 2010/2011 is estimated to amount to the level of approximately EUR 10.8 million, as reported in the fourth quarter of the fiscal year 2009/2010. This would be accompanied by a slight drop in revenue in the 2010/2011 fiscal year to EUR 36.0 million. EBIT are estimated to amount to approximately EUR 4.2 million in the fiscal year 2010/2011. Previously, the Company expected a revenue of between EUR 38.2 million and EUR 39.7 million, as well as EBIT of EUR 6.0 million for the fiscal year 2010/2011. Full Article
Magix AG Acquires All Rights to Technology and Products of yellow tools GbR
Magix AG announced that it has acquired all rights to the technology and products of yellow tools GbR based in Karlsruhe as part of an asset deal. Both companies have agreed not to disclose the purchase price. yellow tools GbR is a manufacturer of software sampler technology and virtual instruments. Full Article
Magix AG Reaffirms FY 2010/2011 EBIT Guidance
Magix AG announced that the Company has reaffirmed its fiscal year 2010/2011 EBIT guidance. For financial year 2010/2011 Magix AG expects EBIT to rise moderately to approximately EUR 6.0 million. Full Article
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