PTA-News: World Excellent Products S.A. | WEP S.A.: Execution of a capital increase to speed up expansion

Tuesday, 12. November 2019 17:36

Business news for the stock market

Kalochori (pta036/12.11.2019/17:36) - Thessaloniki, November 12th 2019 - Herewith, World Excellent Products S.A. (ISIN GRS519001002) announces the execution of a capital increase. To speed up the international expansion - mainly into its target markets USA, Canada, United Kingdom and Germany, the management of the issuer resolved a capital increase that will increase the social capital of the company from currently 2.351.590 registered shares by 23.260 registered shares to 2.374.850 registered shares. The price per share of this capital increase is EUR 21,50. Thus, the company will receive funds in the amount of EUR 500.090.

The basic goals for WEP is to increase marketing intensity via expo participation and social media utilization. Moreover, the company's target is to invest in brand visibility and awareness, while surging sales and market penetration. WEP's goal is to increase its sales by 40% in these target markets until June 2020.

Moreover, the company will be investing in new product additions to its current portfolio of Extra Virgin Olive Oil and Balsamic Vinegar. The main focus for developing new products is on honey, truffle and tomato products.

About World Excellent Products S.A. (WEP):
WEP is a company that deals with the standardization and export of high-quality, healthy and nutritionally high-quality foods. Thereby, the expansion of the current product portfolio with other products, which are mainly produced in the Greek market, is the main target. Currently, the high quality olive oil "5olive" belongs to the lead products of the company. The first stage of the new products consists of honey, spices and tomato products. In addition, products that are produced in other countries should be included in the product mix. The basic prerequisite here is always that all products that are included in the WEP portfolio offer "top quality" and a real "added value" for consumers.

Investor Relations Contact:

World Excellent Products S.A.
2 Kapetan Agra St.
57009 Kalochori (Thessaloniki)
Greece
Contact:
Mr. Ioannis SOMPOLOS
Phone: +30 2310 751 379
Email: i.sompolos@wep-sa.com

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emitter: World Excellent Products S.A. | WEP S.A.
address: 2 Kapetan Agra St. | P.O. Box 1025, 570 09 Kalochori
country: Greece
contact person: Ioannis Sompolos
phone: +49 30 2310 751 379
e-mail: i.sompolos@wep-sa.com
website: www.wep-sa.com

ISIN(s): GRS519001002 (share)
stock exchanges: Vienna MTF in Vienna

[ source: http://www.pressetext.com/news/20191112036 ]

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