5EL SA Completes Reorganization and Is Renamed into The Native SA

The Integrated Blockchain and Ecommerce Services Company Announces Key Growth Initiatives for 2018

 

Lausanne (Switzerland), December 6, 2017 – the Extraordinary Shareholders Meeting (“EGM”) of 5EL SA held today, approved the Company’s successful transformation from a listed shell this Spring, into a fast-growing international company operating under its new name The Native SA.

The Native SA currently operates three business segments – Blockchain Lab, focused on innovation in the blockchain and machine learning technology space, e-commerce Services, a suite of digital and content marketing, payment processing and customer support services for e-commerce merchants seeking to market and sell their products and services worldwide, and Asknet Academic, the long-established software distribution business focused on the German language academic market. The Native SA is headquartered in Switzerland and together with its 51% owned subsidiary Asknet AG operates from offices in Germany, USA and Japan.

The EGM elected Mr. Sergey Skaterschikov, the serial e-commerce, media and finance entrepreneur, and significant shareholder of The Native SA, to lead the company as the Executive Chairman, with Mr. Serge Umansky, head of Blockchain Lab, to remain in the board of The Native SA as Vice-Chairman and also to serve as the Chairman of Asknet AG Supervisory Board. Ms. Izabela Depczyk, the founder of The Native, a content marketing agency that was acquired by 5EL SA in May, joins the board as well.

The Board of The Native SA has also instituted the Advisory Board to advise on the new business expansion strategy of The Native SA, to be chaired by Mr. Michael Neises and to include Mssrs. Daniel Wild, Dmitry Evenko, Andreas Benz and Brian McConville.

“The acquisition of Asknet AG, that was completed on November 8, brought to our group the scale of over €60 million in annual revenues and a formidable team of e-commerce professionals that have been fully integrated with The Native SA. Our long-term plans are to be the global leader in e-commerce services market through technology innovation and by understanding and servicing the fastest growing consumer demographics, that is the millennial and Gen Z generations,” commented Sergey Skaterschikov, the Executive Chairman of The Native SA, who had also been appointed as the Member of the Executive Board (Vorstand) of Asknet AG.

The Native SA EGM approved the EUR 4.31 million bond to finance the further expansion of its business, to be underwritten by the company’s existing and new shareholders by December 20, 2017. The bond is issued for 12 months and is convertible into 909,410 shares at the bondholders’ discretion. Once and if converted, the total number of 5EL shares outstanding will be increased to 4,020,600, excluding management options. The EGM has approved 1 million shares for the option plan allocation, with the Company’s Board and Advisory Board to agree on the terms of the stock option plan at a later date.

Building on multiple synergies between The Native, Blockchain Lab and Asknet, The Native SA will focus on three key business priorities in 2018: (i) profitable growth in the e-commerce Services segment through bundling content marketing and payment processing services and focusing on larger global merchants with a specific focus on wearable health devices, media & content and software space; (ii) profitable growth in Asknet Academic segment through both geographic expansion and by introducing new products and services to each of the academic institutions and the student communities; and (iii) launching commercial applications of blockchain technology to facilitate e-commerce trade in industries that are dependent on reliable authentication, condition reporting and ownership-change tracking.

The Native SA will publish its consolidated annual accounts by April 15, 2018, with those to include the results from the consolidation of Asknet AG.

 

The Native SA corporate website will be unveiled in February 2018.

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