euro adhoc: Fortune Management Inc.
other
- Fortune issues debenture
amounting to EUR 8,250,000
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.07.2005
Zug/Switzerland, July 25, 2005 - Fortune Management Inc. (General Standard, ISIN USU026281027, WKN: A0BLYY) successfully placed a debenture with a total nominal value of EUR 8,250,000 to mainly institutional domestic and international investors. Due to the high level of demand the full amount of the granted over-allotment-option was utilized. In total, 8,250 partial debentures with a nominal value of EUR 1,000 each were issued at a price of 100%.
The term of the debenture is two years with an annual interest rate of 6.00 percent. Each of the 8,250 partial debentures has 200 bearer warrants vested with an option price of EUR 1.00 each, which are eligible for immediate exercise until July 20, 2007.
The placement was carried out by the Frankfurt-based bank Close Brothers Seydler and Consors Capital Bank AG located in Berlin. The issuance results in a cash inflow amounting to EUR 8.25 million before transaction costs. The majority of the proceeds from the issue will be employed as working capital and, amongst others, used for the integration of the recently acquired HLSP.
End of ad hoc release
Profile of the Fortune Management Inc.: FORTUNE Management Inc,
Zug/Switzerland, pursues two parallel consolidation strategies: In
the Asset Management division, the acquisition of independent asset
management companies primarily operating in Switzerland, but also
internationally, is in the center of interest; in the Private Equity
segment, Fortune focuses on the acquisition of established private
equity managers on a global scale. Both operations operate from the
same platform. FORTUNE has subsidiaries in Zug, Zurich, Geneva, and
Dubai. The company targets the acquisition of a majority share in the
asset management or private equity companies. With the integration
into the group, the acquired companies of both segments are relieved
from as much administrative work ("middle office") as possible. They
continue to operate in the market under their established trade name.
Neither the customer nor the custodian bank relationships of the
asset managers are altered. The realized economies of scale result in
improved cost ratios. In the Asset Management division, the support
in the areas of research as well as portfolio management aims to
enhance the risk-adequate return for the asset managers clients. In
the Private Equity segment, the companies achieve an increase in
volume and a broadening of their base. The shares (ISIN: USU
026281027) of the company are listed at the Geregelter Markt
[Regulated Market] (General Standard) of the Frankfurt Stock
Exchange.end of announcement euro adhoc 25.07.2005 20:00:00
Further inquiry note:
Fortune Management Inc.
Christian Hillermann
Investor Relations Manager
Tel.: +49 40 / 23608-897
Fax: +49 40 / 23608-500
Email: ir@fortune-management.com
Branche: Financial & Business Services
ISIN: USU026281027
WKN: A0BLYY
Börsen: Frankfurter Wertpapierbörse
Berliner Wertpapierbörse
Baden-Württembergische Wertpapierbörse
Börse Düsseldorf
Bremer Wertpapierbörse (BWB)