Debt cancellation deal sees YOC AG press ahead with restructuring
Berlin, 26 February 2014, 12:52
As the next step in its restructuring plan, YOC AG (Frankfurt, Prime Standard, ISIN DE0005932735) has reported the completion of a debt cancellation deal. The company will thereby become debt-free, with the exception of its shareholder loans.
YOC AG has succeeded in signing a major debt cancellation deal with one of the com-pany’s primary creditors. The debt cancellation arrangement is part of the restructuring plan, which aims to improve the company’s profitability, optimize the product develop-ment process and relieve the company’s balance sheet. The deal will result in a positive impact on equity for YOC AG amounting to EUR 0.75 million. The debt of EUR 0.25 mil-lion remaining after the cancellation will be paid off under the terms of the cancellation agreement. A side effect will be that annual interest expense will decline. The debt can-cellation will be recorded as one-off income in the first quarter of this year.
Now that the repayment of all bank loans are completed and as a result of this deal the YOC Group will be debt-free, with the exception of its shareholder loans.
As a pioneer in the industry, YOC benefits from more than a decade of incomparable mobile advertising experience. YOC’s commitment to transform digital advertising through technology and passion for innovation has led the company to a leading position in the mobile advertising business in Europe.
The combination of its creative spirit, extensive reach in each of its markets – Austria, France, Germany, Spain and the UK – and its incomparable expertise in Europe’s mobile advertising landscape makes YOC the ideal partner to set you on your way to the future of digital advertising. The specialised ad networks, YOC Media for branding advertising and belboon for performance advertising campaigns, enable publishers to effectively monetise their mobile inventory and advertisers to achieve brand awareness and a strong sales impact.
YOC’s success story relies on its people – 120 highly motivated and passionate Digital Advertising experts – whose drive for excellence has led the company to achieve EUR 34.6 million in revenues in 2012.