ALNO AG: Alno AG launches capital increase on October 20, 2010
ALNO AG / Key word(s): Capital Increase/Corporate Action
19.10.2010 10:01
---------------------------------------------------------------------------
- Issue of up to 8,698,326 new ordinary shares
- Subscription price of EUR 3.00, gross issue proceeds of up to EUR 26.1
million
- Equity serves implementation of 'ALNO 2013' future concept
- Additional offering of 1,304,748 shares from existing shareholder's
holding
- New shares to be listed prospectively on November 8, 2010
Düsseldorf, October 19, 2010 - Alno AG, one of the world's leading
manufacturers of fitted kitchens, has today published the subscription
offer for the capital increase from Authorized Capital, for which a
resolution was passed by the Managing Board on October 14, 2010, with
Supervisory Board assent. Accordingly, the subscription period will
commence tomorrow on October 20, 2010, and will end on November 3, 2010 at
16:00 hours (Central European Time). The subscription price is EUR 3.00 per
share. In overall terms, the company's share capital will be increased by
up to EUR 22,615,647.60, from currently EUR 45,231,297.80 to up to EUR
67,846,945.40. This is to be realized through the issuing of up to
8,698,326 new shares with a notional amount of EUR 2.60 in the share
capital. As part of a potential over-allotment, 1,304,748 bearer shares
held by ABAG Aktienmarkt Beteiligungs AG, Cologne, will also form part of
the offering.
Subscription rights trading will not be organized as part of the offering.
ICF Kursmakler AG, Frankfurt am Main, will underwrite the new shares with
the obligation to offer them to the company's shareholders at a 2:1 ratio.
This means that shareholders may acquire one new share for every two shares
held. Shares that have not been subscribed for will be offered at the
subscription price as part of a public offering in Germany, as well as by
way of a private placing among selected institutional investors both in
Germany and abroad (except the USA). Since a significant objective of the
capital increase is also a revitalization of the free float of the Alno
share, the Managing Board of Alno AG is assuming that the current major
shareholders Küchen Holding GmbH and IRE Beteiligungs GmbH will not
exercise their subscription rights. In the past, these shareholders have
repeatedly expressed their commitment to, and recognition of, Alno AG's
restructuring path, and have demonstrated this in the form of several
financing measures.
With the issue proceeds accruing from the capital increase, Alno aims to
finance the 'ALNO 2013' future concept that has already been launched. The
company's equity base is to be strengthened correspondingly, and liquidity
secured on a sustainable basis. In this connection, the net issue proceeds
will also be deployed for the financing of the social plans, and
investments in the IT area. The company also plans to invest in machinery
at its production locations.
''ALNO 2013' represents a fundamental paradigm shift,' commented Jörg
Deisel, Chief Executive Officer of Alno AG. 'In the past months, we have
already implemented many far-reaching measures for the sustainable
reorganization of our Group, and have realized important interim objectives
in doing so. As a consequence, we have adopted the right path in the eyes
of many observers. The financial resources from the capital increase are
intended to provide us with support in continuing to push ahead
energetically with the restructuring. At the same time, the targeted
significant expansion in the free float is intended to prospectively
restore the Alno share to a more attractive investment status. We are
firmly focused on the target of returning Alno to a financially healthy,
competitive and sustainably profitable growth path. I am very confident
that we will succeed in doing so.'
The company's Managing Board is of the view that, above and beyond 'ALNO
2013', growth opportunities in the rest of the world outside Europe, the
global project business, and the exploitation of potential consolidation
trends are of central significance.
The new shares are to be listed on the Regulated Market of the Frankfurt
Stock Exchange (General Standard) and on the Baden-Württemberg Stock
Exchange in Stuttgart. Inclusion of the new shares in the existing listing
is planned for November 8, 2010.
The securities prospectus for the public offering, which has been approved
by the Federal Financial Supervisory Authority (BaFin), can be downloaded
from Alno AG's website (www.alno.de) within the Investor Relations area.
Disclaimer:
This publication does not constitute an offer to sell or a solicitation of
an offer to buy or subscribe for any securities. No offer of securities of
ALNO AG is being or will be made to the public outside Germany. The offer
in Germany is being made exclusively on the basis of the prospectus which
has been published and filed with the German Financial Services Authority
(Bundesanstalt für Finanzdienstleisungsaufsicht - BaFin). Any decision to
invest in the securities of Alno AG offered should solely be based on the
securities prospectus. Copies of the prospectus are available free of
charge at the offices of Alno AG, at the offices of the underwriting banks
and at the admission office of the Frankfurt Stock Exchange.
This publication and the information contained therein is not for
distribution or publication, directly or indirectly, in or into the United
States of America, Canada, Australia or Japan.
This publication does not constitute an offer for sale of any securities in
the United States. Securities, including any shares of Alno AG in the
course of the offer, may not be offered or sold in the United States unless
they are registered under the Securities Act or are exempt from
registration. There will be no registration or public offer of any
securities of Alno AG in the United States.
Contact:
ALNO AG
Director Corporate Communication & Investor Relations
Andrea Wolf
Airport Office I, Peter-Müller-Straße 14/14a
40468 Düsseldorf
Telephone: +49 / 211 / 159 785 - 33 16
Telefax: +49 / 211 / 159 785 - 77 3316
Email: andrea.wolf@alno.de
19.10.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: ALNO AG
Airport Office I, Peter-Müller-Straße 14/14a
40468 Düsseldorf
Deutschland
Phone: +49 / 211 / 159 785 33 16
Fax: +49 / 211 / 159 785 77 3316
E-mail: andrea.wolf@alno.de
Internet: www.alno.de
ISIN: DE0007788408
WKN: 778840
Listed: Regulierter Markt in Frankfurt (General Standard), Stuttgart;
Freiverkehr in München, Düsseldorf, Berlin
End of Announcement DGAP News-Service
---------------------------------------------------------------------------