• Ecommerce Alliance AG to change its name to Mountain Alliance AG
• Shareholders favoured the submitted resolutions at the general assembly in high numbers
• The board views the business year 2018 with optimism
Munich, July 5, 2018 – Ecommerce Alliance AG (ECA, ISIN DE000A12UK08) held its annual general meeting in Munich today. Shareholders favoured the submitted resolutions in high numbers. At the time of the vote, around 75.56 percent of the share capital as stated in the Articles of Association of Ecommerce Alliance AG were represented at the shareholder meeting.
The main point on the agenda was the proposed renaming of the company from Ecommerce Alliance AG to Mountain Alliance AG. A significant majority of the shareholders present agreed to the submitted resolution. Today’s decision to change the name of the company will become official with its entry into the commercial register.
The new name is set to emphasise the reinforced partnership between Ecommerce Alliance AG and the Swiss company Mountain Partners AG. The two companies have been collaborating with mutual trust since April 2017. Mountain Partners AG has acquired participations in Ecommerce Alliance AG in a multi-level procedure and currently holds the share majority with 50.1%.
“It is important to us to not only speak with one voice, but to also approach our business partners and the equity market under one banner”, explains Daniel Wild, CEO of Ecommerce Alliance AG and acting CEO of Mountain Partners AG since 1st July 2017.
The shareholders present at the general assembly were pleased with the progression of the business year 2017 and the achieved redoubling of the group net profit. In his address to the assembly, Daniel Wild underlined the objective of driving the restructuring of the future Mountain Alliance AG to a becoming a leading digital asset management group and to sustainably increase the group’s net asset value (NAV) from previously EUR 27.1 million or EUR 6.72 per share.
“2018 has started well for us and we see our envisaged strategy confirmed by the successful sale of our holdings in Getinternet and Orbitcom. Based on these successes, we are confident to continue this positive development for the remainder of the 2018 business year. Our portfolio was significantly increased with the acquisition of Mountain Internet AG and continues to develop positively. This success strengthens our conviction that we must continue to intensively verify the viability of acquisitions of other promising companies”, says Daniel Wild.
The voting results of the shareholder meeting can be viewed on the company’s homepage at www.ecommerce-alliance.de under “Investor Relations”.