euro adhoc: Thielert AG
Restructuring & Recapitalisations
Thielert AG plans
capital increase without subscription rights
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
11.07.2007
Hamburg, 11 June 2007: Thielert AG (ISIN DE 0006052079) intends to place between 1,100,000 and 1,300,600 shares from a cash capital increase. On the basis of the authorisation given by the Annual General Meeting on 19 September 2005, the Board of Management and the Supervisory Board of Thielert AG resolved today to increase the company´s registered capital by up to 1,300,600 shares (up to 6.5% of the current registered capital) without subscription rights.
The placing price for the up to 1,300,600 shares has been set at EUR21,75 which corresponds to a 5% discount based on today´s volume weighted average share price until 12.00 CET. The offering of the new shares by means of an accelerated bookbuilding is exclusively directed at German and international institutional investors. Following Thielert´s announcement on 28th June 2007 regarding the significant step forward in the relationship with Cessna and the success of the CENTURION engine, Thielert is now looking to pre-finance a potential serial production for two of its OEM clients. As a result Thielert is now intending to increase its financial flexibility and strengthen its balance sheet with the capital increase. The company expects net proceeds of around EUR25-28 million of which around 2/3 will be used to pre-finance the expected working capital increase with regard to the above mentioned OEM projects. Around 1/3 will be used to expand the company´s production capacity at its Altenburg and Lichtenstein plants.
The final number of shares and the proceeds of the issue will be made public in a separate Ad-hoc disclosure.
Important Information
This announcement contains forward-looking statements, which reflect Thielert AG's current expectations and projections about future events. Various known and unknown risks, uncertainties and other factors could cause future results, financial condition, performance or development of the Company to differ materially from those described in these forward-looking statements. No obligation is assumed by Thielert AG to update any forward-looking statements.
The information contained in this announcement is not for publication or distribution in Canada, Australia or Japan and does not constitute an offer of securities for sale in such countries.
The placement of shares and the distribution of this announcement or other information in connection with the placement could be restricted in certain jurisdictions by applicable law and any persons who obtain any documents referred to herein or any other information with respect thereto, must inform themselves about any such legal restrictions and must observe these restrictions. Not observing any of these legal restrictions could constitute a violation of the applicable securities laws in the relevant jurisdiction.
This announcement is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States of America will be made by means of a prospectus that may be obtained from Thielert AG or the selling shareholder and that will contain detailed information about the company and management, as well as financial statements.
This announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons being together referred to as "relevant persons"). Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. This announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.
This announcement is not a prospectus in the meaning of the German Securities Prospectus Act and the EU Prospectus Regulation Nr. 809/2004 of 29 April 2004 and does not constitute an offer to sell or the solicitation of an offer to purchase the shares or other securities of Thielert AG.
The information contained in this announcement is not for publication or distribution in the United States of America.
end of announcement euro adhoc 11.07.2007 14:39:41
Further inquiry note:
Sebastian Wentzler
Leiter Unternehmenskommunikation
Telefon: +49(0)40/696950-35
E-Mail: ir@thielert.com
Branche: Machine Manufacturing
ISIN: DE0006052079
WKN: 605207
Index: SDAX, CDAX, Prime All Share, Classic All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade