nextmarkets AG, an investment of Samara, has decided to liquidate its subsidiaries and other assets and will subsequently propose liquidation at its Annual General Meeting
March 28, 2023
Public Disclosure under MAR Article 17
Malta, 03.28.2023. The Management Board of nextmarkets AG, a portfolio company of Samara Asset Group (ISIN: MT0001770107; Ticker: SRAG:GR, Formerly CAP:GR), has decided today, with the approval of the Supervisory Board, in the light of the challenging situation in the public capital markets and the weakness of the financing market, to sell all subsidiaries and, respectively, their assets, as well as further assets of nextmarkets AG.
Following these transactions, the liquidation of nextmarkets AG shall be proposed at the Annual General Meeting of nextmarkets AG.
Samara currently holds 37.68% of the shares in nextmarkets AG and has invested a total amount of approximately EUR 14.6 million as deposits and loans in nextmarkets AG. In prior years, Samara has recognized impairments on nextmarkets AG of EUR 5.2 million. The unimpaired value is, therefore, implied to be EUR 9.4 million, consisting of EUR 5.7 million in equity and EUR 3.7 million in convertible loans.
The amount of the share of the liquidation proceeds of nextmarkets AG attributable to Samara has not yet been determined. However, the Management Board of Samara assumes that the amount of the acquisition costs of the shares in nextmarkets AG and the amount of the loan granted will not be reached and that Samara could therefore incur a loss of up to the implied carrying value of EUR 9.4 million, according to IFRS accounting.
About Samara Asset Group p.l.c.
Samara Asset Group (ISIN: MT0001770107; Ticker: SRAG:GR) is a deep-tech powered alternative asset manager with a hyperfocus on alpha-generating strategies and Bitcoin. We leverage our robust balance sheet of many of the world’s pre-eminent Bitcoin infrastructure companies, such as B1, Northern Data and Deutsche Digital Assets, to seed emerging asset managers on the Samara Alpha platform and back the world’s best builders in Bitcoin.