DGAP-Adhoc: Kardex AG: Kardex completes the sale of its Stow Division
Kardex AG / Key word(s): Miscellaneous
31.07.2013 17:50
Release of an ad hoc announcement pursuant to Art. 53 KR
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Media information
Zurich, 31 July 2013
Kardex completes the sale of its Stow Division and plans a special dividend
Today Kardex AG completed the sale of its Stow Division to Averys. The move
follows the approval of the transaction by the competition authorities a
few days ago. The Group will use the cash inflow from the sale of around
EUR 76 million (which includes the repayment of intercompany loans)
primarily to invest in the accelerated organic expansion of the Kardex
Remstar division and to repay its bank debts.
Furthermore, the company plans to distribute around CHF 30 million to
shareholders in the form of a special dividend of CHF 4.00 per share, which
is tax-free for private Swiss individuals, from its capital contributions
reserve. This is roughly equivalent to the funds generated by the capital
increase back in September 2011, which the company is now channelling back
to shareholders. Once the audited interim report has been prepared, the
company will therefore convene an extraordinary general meeting, which is
expected to take place at the end of September 2013.
The Group's equity ratio will remain comfortably above 50% even after the
special dividend has been paid.
Contact for media and
investors:
Edwin van der Geest
Investor Relations
investor-
relations@kardex.com
Tel. +41 44 419 44 79
Tel. +41 79 330 55 22
www.kardex.com
Calendar of events:
22 August 2013 2013 half-year closing, publication of 2013
Interim Report
13 March 2014 2013 year-end-closing, publication of 2013
Annual Report
2014 media and analysts' conference
24 April 2014 2014 Annual General Meeting
Kardex Group - Corporate Profile
The Kardex Group is a global acting industry partner for intra-logistic
solutions and a leading supplier of automated storage solutions and
material handling systems. The Group consists of two entrepreneurial
managed divisions, Kardex Remstar and Kardex Mlog. Kardex Remstar develops,
produces and maintains shuttles and dynamic storage and retrieval systems
and Kardex Mlog offers integrated materials handling systems and automated
high-bay warehouses. The two divisions are partners for their customers
over the entire life cycle of a product or solution. This begins with the
assessment of customer requirements and continues through planning,
realization and maintenance of customer-specific systems. It ensures a high
level of availability combined with low total cost of ownership and
operation. Around 1 500 employees in over 30 countries work for the Kardex
Group.
Disclaimer
This communication contains statements that constitute 'forward-looking
statements'. In this communication, such forward-looking statements
include, without limitation, statements relating to our financial
condition, results of operations and business and certain of our strategic
plans and objectives. Because these forward-looking statements are subject
to risks and uncertainties, actual future results may differ materially
from those expressed in or implied by the statements. Many of these risks
and uncertainties relate to factors which are beyond Kardex's ability to
control or estimate precisely, such as future market conditions, currency
fluctuations, the behavior of other market participants, the actions of
governmental regulators and other risk factors detailed in Kardex's past
and future filings and reports and in past and future filings, press
releases, reports and other information posted on Kardex Group companies'
websites. Readers are cautioned not to put undue reliance on
forward-looking statements, which speak only of the date of this
communication. Kardex disclaims any intention or obligation to update and
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=VGVFVKLNPB
Document title: Kardex completes the sale of its Stow Division
31.07.2013 News transmitted by EQS Schweiz AG.
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Language: English
Company: Kardex AG
Thurgauerstrasse 40
8050 Zürich
Switzerland
Phone: +41 (0)44 419 44 79
Fax:
E-mail: investor-relations@kardex.com
Internet: www.kardex.com
ISIN: CH0100837282
Valor: A0RMWK
Listed: Freiverkehr in Berlin, München, Stuttgart;
Frankfurt in Open Market ; SIX
End of Announcement EQS Group News-Service
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