PRESS RELEASE: YOC AG: YOC AG to receive EUR 1.4 million in loan financing
Category: Word Press
DGAP-News: YOC AG / Key word(s): Strategic Company Decision YOC AG: YOC AG to receive EUR 1.4 million in loan financing
14.01.2014 / 11:30
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YOC AG to receive EUR 1.4 million in loan financing
Berlin, 14 January 2014 - YOC AG (Frankfurt, Prime Standard, ISIN DE0005932735) announces it has signed loan contracts with shareholders in the company.
Under the debt financing arrangement, YOC AG is to receive a total of EUR 1.4 million in several instalments. 'We thank the shareholders involved for their support as we implement our restructuring plan,' said Dirk Kraus, CEO of YOC AG. This obviates any need for an increase in share capital in the short term.
While the restructuring measures that have been initiated are aimed primarily at bringing about significant improvement in profitability and optimizing the product development process, the present loan financing is the first element in a long-term corporate financing plan.
The steps initiated by YOC beginning in September 2013 had already resulted in mildly positive results by the fourth quarter of 2013. An increase in revenues and a massively reduced cost structure are expected to result in considerable improvement in operating results for financial year 2014.
YOC is currently building up its product portfolio and network of publishers, reshaping its organisational structure and creating new key positions. The company is concentrating its product development work in three areas:
1. Automated trading in mobile advertising space in the programmatic selling area
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PRESS RELEASE: YOC AG: YOC AG to receive EUR 1.4 million in loan financing
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