euro adhoc: Restructuring & Recapitalisations
KTM to increase Share Capital
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
11.02.2009
Not intended for distribution in the United States, Canada, Australia and Japan. This does not constitute an offer to buy or to subscribe to securities.
KTM to increase Share Capital.
>> Up to 9.99% of existing share capital >> Safeguarding future developments
Mattighofen, Febuary 11, 2009 - On January 29, 2009, the Management Board of KTM Power Sports AG, Stallhofner Strasse 3, 5230 Mattighofen, Austria (ISIN: AT0000645403), one of the world's leading manufacturers of off-road and street motorcycles, ATVs and the X-Bow sports car, resolved to increase capital stock by up to 687,357 bearer shares, having gained the Supervisory Board's approval on the same day.
Only existing shareholders have a subscription right on new shares at a ratio of 10:1 (existing shares to new shares). The Board set the maximum subscription price at EUR 30.00. The entire issue volume will be placed on the market, irrespective of the degree to which shareholders make use of their subscription rights, as Bajaj Auto International Holdings B.V. has pledged to purchase the new shares that are not subscribed.
Details of the capital increase
On January 29, 2009, the Management Board of KTM Power Sports AG, Stallhofner Strasse 3, 5230 Mattighofen, Austria (ISIN: AT0000645403), having gained the Supervisory Board's approval on the same day and exercising the powers vested in it, resolved to increase the share capital from the current nominal value of EUR 6,892,643.00 by up to EUR 687,357.00 to up to EUR 7,580,000.00, which will be achieved by issuing up to 687,357 new bearer shares with voting rights and a nominal value of EUR 1.00 , with a maximum subscription and offer price of EUR 30.00 per new share, while protecting the subscription rights of existing KTM Power Sports AG shareholders. The capital increase will involve Raiffeisen Centrobank AG taking the new shares pursuant to Article 153 (6) Austrian Stock Corporation Law (AktG) to offer them to shareholders at a ratio of 10:1 at the subscription and offer price within the subscription period. It will be up to the Management Board to settle any fractions remaining due to the subscription ratio.
The subscription period for the new shares begins on February 13, 2009 and ends on February 27, 2009. The company reserves the right to shorten or extend the subscription period. The new shares have full dividend rights for the business year 2008/09 and are expected to be included in the Vienna Stock Exchange's regulated unofficial market (prime market segment) on/or about March 4, 2009. The offer of the new shares is only available to existing
shareholders , therefore it is not a public offering under the Austrian Capital Markets Act (KMG) and no prospectus will be prepared. Due to the fact that less than 10% of the number of shares as already approved for trading on the same regulated market will be offered and admitted, no listing prospectus is required under the AustrianStock Exchange Act (BörseG), either. The Management Board of KTM Power Sports AG with the approval of the Supervisory Board will determine the final subscription and offer price after the end of the subscription period, on/or about February 27, 2009, and publish it using electronic media on/or about February 27, 2009.
As the shares of KTM Power Sports AG have not been registered under the U.S. Securities Act 1933 and does not constitute an exception from the registration requirement, people from the United States, Canada, Australia and Japan may not exercise subscription rights. Non-Austrian shareholders are therefore requested to find out themselves about any restrictions concerning exercising their subscription rights.
Key data on capital increase
Issuer: KTM Power Sports AG ISIN: AT0000645403 Issue volume: up to 687,357 new shares Subscription ratio: 10:1 Trading in subscription rights: there will be no trading in subscription rights. The company has not appointed the subscription agent or any other people to trade in subscription rights. Subscription period: February 13, 2009 to February 27, 2009. The company reserves the right to shorten or extend the period. Maximum subscription price: EUR 30.00 per new share Value date: on/or about March 4, 2009 Dividend rights for the new shares: for business year 2008/09 and following years Initial listing of the new shares: on/or about March 4, 2009 on the Vienna Stock Exchange's regulated unofficial market (prime market segment)
end of announcement euro adhoc
Further inquiry note:
KTM Power Sports AG
Mag. Wilfried Stock
Tel.: +43(0)7742/6000-216
mailto:wilfried.stock@ktm.com
Branche: Technology
ISIN: AT0000645403
WKN:
Börsen: Wiener Börse AG / official dealing