euro adhoc: Precious Woods Holding AG, Zug
Financial Figures/Balance Sheet /
Precious Woods in first half of 2005: Increase in net sales and lower net income
due to exchange rate effects
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
14.09.2005
Compared to the prior year, sales of timber increased by 39% from USD 5.94 million to USD 8.28 million. Net income decreased by 22.5% from USD 1.44 million to USD 1.11 million. The increase in sales is in line with the long-term track record of Precious Woods. The decrease in earnings is primarily due to the unfavourable currency exchange rates in Brazil.
For details on Precious Woods performance during the first half of this year, please refer to the half-year report 2005. The report can be downloaded from www.preciouswoods.com as of today. For a printed version please contact the address shown below.
As of September 19, 2005 Precious Woods will perform the previously announced capital increase. From that date on the Precious Woods shares will be traded ex rights. The capital increase will be carried out in two stages - a rights offering to existing shareholders and a public share offering. Existing shareholders may exercise their rights to purchase 1 new share at CHF 70 for every 7 shares they already own. The rights exercise period will last from September 19 to 27, 2005. In a parallel second step, investors will be able to purchase new shares in a public share offering. The issue price will be determined in a book-building process and published on September 30, 2005. These two steps will enable the Company to raise a total of approximately 100 million CHF. Precious Woods will utilize the new funds to finance important expansion projects.
Precious Woods (SWX: PRWN) is active in the reforestation and sustainable management of tropical forests, downstream wood processing and trading of FSC certified timber and non-timber forest products. The shares of Precious Woods have been listed on the SWX Swiss Exchange since March 2002. More information about the company and its activities may be found on the website www.preciouswoods.com.
End
end of announcement euro adhoc 14.09.2005 19:47:38
Kontakt:
Precious Woods Holding AG, Zug
Dr. Andres Gut, CEO
Tel. 41 1 245 80 10
mailto:office@preciouswoods.ch
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing