Gentlemen's Equity S.A. (ENXTPA:MLGEQ) announced a private placement of up to 10,000,000 common shares at a price of €0.50 per share for gross proceeds of €5,000,000, on August 28, 2020. The shares have a face value of €0.05 each. The may include participation from third parties or shareholders who enjoy pre-emptive rights when subscribing for the new shares in proportion to the number of shares held. Upon completion, the company's share capital will increase from €3,699,909 to €4,199,909. The transaction needs to be approved by the shareholders at the next annual general meeting to be held on September 29, 2020. On November 24, 2020, the remaining shares, if any, post subscription period for existing shareholders has expired, will then be offered to third parties within one year by November 18, 2021. The management board can shorten this period once the placement of the shares has been completed.