euro adhoc: Precious Woods Holding AG, Zug
other
Precious Woods
shareholders approve capital increase
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.08.2005
The Extraordinary General Meeting of Precious Woods Holding of August 25, 2005 approved all motions of the Board of Directors fulfilling all of the requirements for the previously announced capital increase. The first step will consist of a Rights Offering in the course of which existing shareholders can purchase 1 new share for every 7 shares they own at a price of 70 CHF. The rights exercise period is expected to last from September 19 to 27, 2005. In a parallel second step, investors will be able to purchase new shares in a public Share Offering. The issue price will be determined in a book-building process and is expected to be published on September 30, 2005. These two steps will enable the Company to raise a total of approximately 100 million CHF. The Lead Manager is the Zürcher Kantonalbank.
Precious Woods will utilize the new funds to finance important expansion projects: the Dutch company A. van den Berg BV, currently the most important trader of FSC-certified tropical hardwood in Europe, will be acquired. Precious Woods will invest in the largest forestry group in the Democratic Republic of Congo with about 4000 employees and will thereby secure an important resource base. This will begin with a minority investment, including the option to significantly increase the participation in the next 7 years. Further forest will be purchased in Brazil.
Precious Woods (SWX: PRWN) is active in the reforestation and sustainable management of tropical forests, downstream wood processing and trading of FSC certified timber and non- timber forest products. The shares of Precious Woods have been listed on the SWX Swiss Exchange since March 2002. More information about the company and its activities may be found on the website www.preciouswoods.com.
end of announcement euro adhoc 26.08.2005 06:30:00
Kontakt:
Precious Woods Holding AG, Zug
Dr. Andres Gut, CEO
Tel. 41 1 245 80 10
mailto:office@preciouswoods.ch
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing