Ad Hoc Announcements

The Management Board and the Supervisory Board of INTERSHOP Communications AG (ISIN: DE000A0EPUH1) today adopted a restructuring program, which includes (i) various cost reduction measures, (ii) the proposal of a simplified capital reduction to the extraordinary General Meeting and (iii) the planning of financing measures for 2020. The program is the completion of the transformation into a cloud provider and the basis for the future business.

According to preliminary figures, INTERSHOP Communications AG (ISIN: DE000A0EPUH1) generated revenues of around EUR 23 million (previous year: EUR 24 million) and an operating result (EBIT) in the amount of EUR -4.6 million (previous year: EUR -3.7 million) in the first nine months of 2019.

10:52 CET/CEST: The Management Board of INTERSHOP Communications AG today resolved, with the consent of the company's Supervisory Board, to increase the share capital from authorized capital by close to 9% of the existing share capital.

INTERSHOP Communications AG (ISIN: DE000A0EPUH1) successfully completed the capital increase by way of rights issue resolved on 9 January 2019. All shares were placed with existing shareholders who had been granted pre-emptive and oversubscription rights.