- Attractive selling opportunity seized following strong increase in share price
- Disposal of the shareholding at many times the book value
- New direction for the theme-based AG Smart E makes progress
Munich, 21 November 2013 – the theme-based AG Smart E (formerly mic clean AG), which belongs to mic AG (ISIN DE000A0KF6S5) has completely disposed of its minority holding in Proton Power Systems Plc. At the end of September 2013, Proton Motor Fuel Cell GmbH, a subsidiary of Proton Power Systems Plc., introduced the world’s first electric commercial vehicle powered by battery and fuel cell in the 7.5 to 12 t weight category. The positive trend in the share price of the fuel cell specialist, listed in London, was able to be used to sell the shares in the company on the market and to realise a sale at many times the book value.
„Proton Motor Fuel Cell GmbH was one of the first investments of the mic Group. Following the takeover by Proton Power Systems Plc. and a successful listing on the AIM/London in 2006, the opportunity presented itself to us, thanks to the recent jump in the share price, to sell the shareholding at an attractive price and thus to achieve an extremely good return“, explains Claus-Georg Müller, Chair of the Board of mic AG. „With the cash exit we feel strengthened in our business model and work confidently to realise further sales within our portfolio with greater volumes“, continues Müller.
SmartE AG will drive its new strategic direction forwards in the coming months under the motto „Smart Capital – Sustainable Growth“. The expansion in the „Smart Grid“ and „Industrial Ethernet“ sectors are at the forefront here alongside a strengthening of the management. The focus is on businesses in particular that revolutionise industrial processes with the help of software solutions and intelligence.
About SmartE AG:
SmartE AG is an independent company within the mic Group. The company, which has to date traded as mic clean AG, whose focus was on cleantech investments, is gaining a new direction as part of the re-naming. SmartE AG will focus on industrial processes and invest in business at the interface between IT and industrial automation. This theme, which is encapsulated under the term „Internet of things“, is also known in some sub-segments under the description „Smart Grid“ and „Industrial Ethernet“. The energy industry will be one of the investment focuses of SmartE AG.