euro adhoc: PANDATEL AG
Restructuring & Recapitalisations /
Pandatel: Board approves authorized capital increase (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Pandatel AG, Hamburg, has decided to increase its authorized capital by 9.28 % or 670,806 par value shares. They are issued in bearer form having a par value of EUR 1.00 per share. This is done in accordance with the articles of association excluding subscription rights for existing shareholders. The new shares constitute part of the purchase price owing to the acquisition of Lightmaze Solutions AG. On August 19, 2004, the supervisory board approved the decision of Pandatels management board reached on August 18, 2004. Listed on the Prime Standard segment of the Frankfurt Stock Exchange, the company thus realizes a capital influx of EUR 2,160,000 resulting from the capital increase. The issuing price was EUR 3.22. It is based on the average XETRA closing price of the Pandatel share during the five working days prior to signing the purchase contract (May 28, 2004). The capital stock of Pandatel AG increases from EUR 7,225,000 by EUR 670,806 to EUR 7,895,806.
The new shares are given to the Lightmaze Board Dr.-Ing. Elke Jahn und Dr.-Ing. Niraj Agrawal in equal shares. Meanwhile, both were appointed to the management board of Pandatel AG. In doing so, both Lightmaze founders confirm their commitment to and their confidence in Pandatel AG. Due to the successful integration of Lightmaze, Pandatel AG significantly reinforces its own product range as regards Optical Systems. By combining their traditional network technologies with Lightmazes intelligent switch and multiplexer technique, they are creating new opportunities for access, metro, storage and regional networks. Thus, Pandatel AG is expanding its position as universal equipment provider in order to consolidate its status in the future boom regions.
end of announcement euro adhoc 23.08.2004
Further inquiry note:
Christina Kunze | Pandatel AG
Fasanenweg 25 | 22145 Hamburg | Germany
Phone: +49-40-644 14 187
Fax: +49-40-644 14 108
Email: ir@pandatel.com
Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade