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Munich, September 12, 2019 – In ad hoc announcements dated July 9, 2018 and January 31, 2019, Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) announced that the Management Board is aiming for a strategic separation into two corporate units – an increasingly global company focused on technology and software development and a personnel services company focused on the German market. For the personnel service provider operating under the name Allgeier Experts, the path to entrepreneurial independence should lead via an IPO.
The Management Board is sticking to the strategic goal of a separation but is reacting to the business development of the Allgeier Experts unit, which deviated from the plan, and has subjected it to a restructuring and efficiency enhancement program. The business model of Allgeier Experts will be further developed towards higher added value and more closely intermeshed with the IT services business. Against this background, the Management Board does not pursue the original planning of a separate IPO of the Experts unit any further.
After preparatory work in recent months, Allgeier has given priority to the forming and independence of the technology unit at today’s Management Board and Supervisory Board meetings. Further details of the future strategy and concrete separation will be decided by the end of 2019.