euro adhoc: Fortune Management Inc.
Financing, Stock Offerings (IPO)
-
Fortune receives Euro 17,0 Mio from Private Placement
- Global Alternative Energy International (GATE) receives Euro 67,5 Mio in a
subsidiary to build worlds largest integrated b
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
19.12.2005
Zug/Switzerland, December 19, 2005 - Fortune Management Inc. (General Standard, ISIN USU026281027, SIN: A0BLYY) completed a private placement of 11,2 Mio new restricted shares which were issued to institutional investors at a price of Euro 1,25. In addition a Member of the Board of Directors, through an own company has subscribed for a convertible debenture in the amount of Euro 3 Mio. Total funds received amount to Euro 17,0 Mio. The term of the debenture is three years with an annual interest of 6.00 percent and was issued with a conversion premium of 30 percent. These securities are restricted and therefore not admitted for trading.
Global Alternative Energy International S.a.r.L.(GATE), through its subsidiary Neckermann Renewables Wittenberg GmbH, has received a project finance credit facility for Euro 67,5 Mio with Hypo Alpe-Adria Bank AG, Austria. The funds will be used for the construction of a biodiesel plant and an oil mill for which Lurgi AG, Frankfurt am Main has been contracted. This plant, which is located in Wittenburg-Piesteritz, will have an annual output of 200,000 tons of biodiesel and 20,000 tons of pharmaceutical glycerine. The oil mill is to be operated at an annual input of 520.000 tons of rape-seed, for which long-term supply contracts have been secured, making the facility the worlds largest fully integrated bio-diesel project.
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 centre of the interest; in the Private
Equity segment Fortune focuses on the acquisition or establishment of
private equity managers and funds on a global scale. Both operations
work 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 19.12.2005 16:30:58
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
Index: Prime All Share, HDAX, CDAX
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / regulated dealing/general
standard