HULBEE AG share holders agree to the capital increase! (14.07.2011)

At the Extraordinary General Meeting of 25 May 2011, at the 82.6% of the total shareholders were represented, was unanimously requested the increase of the share capital of the Company of CHF 800,000 .- up to CHF 3’200’000 .- CHF 4’000’000 .- to a maximum approved by issuing new bearer shares with a maximum 320’000’000 nominal value of CHF 0.01. According to the Board fixing all current shareholders of the Company will grant a subscription right to participate in the capital. The issue price is CHF 0.85 (approximately EUR 0.70) per share. On the allocation of unexercised stock options, the Board decides that it uses in the interest of society.

Why the capital increase is necessary, says Board Chairman Andrew Wiebe: “Hulbee AG is already known for the innovative Hulbee DataCloud, for the intelligent Hulbee Desktop Pro and the freeware Desktop Search Hulbee. Hulbee has now tested by an agreement with eBay subsidiary a price comparison portal. In the coming months we will have quite a lot of news to report. We will offer our DataCloud and our search engine with a new automated crawler and text summarization technologies into a new business column, specifically to companies and organizations that deal in enterprise content management. We will also expand our project into a separate price comparison shopping business column and come up with new online shopping concepts to the market. In order to prepare ourselves for these markets, we must strengthen the balance sheet of Hulbee and pave the way to raise additional capital.”

Headquarters of Hulbee AG are in Egnach in Switzerland. The company currently employs 59 staff. CEO of Hulbee AG is Andreas Wiebe. From the company Grossbay AG founded in 2008 Hulbee AG was formed in 2009 . The Hulbee AG develops sophisticated search technologies and solutions for information analysis and presentation. Core competencies are particularly Hulbee AG Global know-how within the neural networks and access to speech and pattern recognition. The managing director Wiebe brings decades of experience from other companies and laboratories into the Hulbee AG. Wiebe led and built on various technology labs. Thus flow from this area with significant experience in the company.

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