euro adhoc: Fortune Management Inc.
Financing, Stock Offerings (IPO)
Fortune
Management Inc. issues EUR 70,000,000 Bond to Goldman Sachs and other
institutional Investors to expand its biodiesel capacity
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.04.2006
Zug/Switzerland, 25 April 2006 - Fortune Management Inc., (General Standard, ISIN USU026281027, WKN: A0BLYY) has placed bearer bonds for a nominal value of EUR 70,000,000 with selected institutional investors under the lead of Goldman Sachs International.
The transaction has been arranged by Foundry Capital, Paris, a specialized investment and advisory firm. Foundrys principals have also invested in the issue.
The bearer bonds pay interest at 7% p.a. and mature on 21 April 2009. Early redemption is possible.
Alongside the bearer bond, Fortune Management Inc. has issued a total of 13,591,667 bearer warrants that run through 21 April 2011 and are divided into three classes exercisable at EUR 2.00, EUR 2.50, EUR 3.00 respectively per share. If the warrants are exercised in full, the company will receive a further EUR 32.2m.
The Company intends to list both the bearer bonds and warrants on a Free Market in Germany.
Fortune Management Inc. will use the proceeds of the issue to further
expand the capacity of Global Alternative Energy ("GATE"), in which
Fortune holds a 65% principal investment and to buy back the
outstanding EUR 8.25m debenture due in July 2007.End of the ad hoc release
Profile of Fortune Management Inc.: FORTUNE Management Inc. of Zug, Switzerland, is an on the Frankfurt Stock Exchange listed private equity firm. Its two main activities Principle Investments and Private Equity Management operate from the same corporate platform. Principle Investments comprises of direct investments into different businesses, such as e.g. Wealth Management in Switzerland (Fortune Capital AG) or Biodiesel (GATE Global Alternative Energy S.a.r.L.). Fortune generally acquires controlling interests in these investments, seeking dividend income and capital appreciation of the participations. Under Private Equity Management, Fortune subsumes its investments in private equity managers (general partners), such as Antarctic International Private Equity Fund S.A. in Chile. The focus there lies in consolidating continuous management and performance fee income. FORTUNE has offices in Zug, Zurich, Geneva, Vienna, Dubai and Santiago de Chile.
The companys shares (ISIN: USU 026281027) are quoted on the Regulated Market (General Standard) at the Frankfurt Stock Exchange.
end of announcement euro adhoc 25.04.2006 18:08:40
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: Börse Berlin-Bremen / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Frankfurter Wertpapierbörse / regulated dealing/general
standard