fashionette AG: Annual General Meeting approves combination with The Platform Group

Düsseldorf, 6 September 2023. fashionette AG (ISIN DE000A2QEFA1) („Gesellschaft“), a leading e-commerce group for luxury products in Europe, today successfully held the Extraordinary General Meeting of Shareholders convened at the request of The Platform Group GmbH & Co. KG, Wiesbaden ("The Platform Group"). The shareholders approved the proposed resolutions of the major shareholder The Platform Group with very large majorities: Around 97% voted in favor of the capital increase against contribution in kind. At the time of the vote, around 53.38% of the share capital was represented.

In particular, the shareholders voted in favor of the measures to combine fashionette AG with The Platform Group GmbH & Co. KG, Wiesbaden. For this purpose, The Platform Group will be integrated into fashionette AG within a capital increase against contribution in kind in the amount of EUR 11,073,852.00 excluding subscription rights. In this context, the shareholders also voted in favor of changing the name of fashionette AG to The Platform Group AG.

The combination will be based on the expert opinion of the auditor Russler GmbH. Accordingly, a value of EUR 155.6 million was determined for The Platform Group and a value of EUR 87.1 million for fashionette AG, corresponding to a value ratio of 1 to 1.7861. As a result, the combined company will have a share capital of EUR 17,273,852.00.

Dr. Dominik Benner, CEO of fashionette AG: "The backing of around 97% by the Annual General Meeting for the combination of the activities of both companies creates a new stock listed platform company with the future The Platform Group AG. We are highly profitable, growing even in an ambitious environment, and are actively investing in software development. With 17 sectors - 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, the start for this will be at the end of September."

About fashionette AG:

fashionette AG is a leading European, data-driven e-commerce group for luxury fashion accessories. On the online platforms fashionette.com and brandfield.com, the fashionette group offers not only inspiration, but also a selected range of luxury fashion accessories, such as handbags, shoes, small leather goods, sunglasses, watches and jewellery from more than 300 brands, including own brands. Based on more than ten years of experience in the fashion accessories sector, fashionette AG has developed an innovative proprietary IT and data platform which, with the help of state-of-the-art technologies and artificial intelligence, enables customers throughout Europe to make personalised online purchases of luxury products. For more information on fashionette AG, please visit corporate.fashionette.com or the online platforms www.fashionette.com and www.brandfield.com.

Contact:

Investor Relations
+49 170 444 2006
ir@fashionette.de
Schloss Elbroich |  Am Falder 4 | 40589 Düsseldorf | Germany
corporate.fashionette.com 

Public Relations
presse@fashionette.de
Schloss Elbroich |  Am Falder 4 | 40589 Düsseldorf | Germany
corporate.fashionette.com