08.10.2013 – 18:01

iQ Power AG

DGAP-Adhoc: iQ Power AG resolves a new Rights Issue due to technical difficulties with the Korean Banks

iQ Power AG  / Key word(s): Miscellaneous

08.10.2013 18:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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iQ Power AG resolves a new Rights Issue due to technical difficulties with
the Korean Banks

  - New Rights Offering due to technical problems with the Korean financial
    institutions

  - Fast conclusion to Capital Increase through Rights Issue in October

  - Good participation from Korean shareholders anticipated

  - Listing of preference shares (WKN A0DQVL / ISIN CH0199540599) will take
    place after conclusion of the capital increase

Zug/Switzerland, 8 October 2013 - iQ Power AG (ISIN: CH0020609688, German
Securities Code Number (WKN): A0DQVL; ISIN: CH0199540599 / German
Securities Code Number (WKN): A1J7TW), a developer and marketer of
technologies for environmentally friendly and technologically leading
starter batteries for motor vehicles and licences in these technologies,
provides a status report on the current capital increase for the voting and
dividend preference shares (WKN A0DQVL / ISIN CH0199540599).

The capital increase was well-received by the Korean shareholders, under
the leadership of Won-Lak Choi, Board member of iQ Power AG. For the first
time, CEO Sullivan met with the current Korean shareholders on September
11th in Seoul. The responsible Director of Discover Energy, licensee and
major shareholder of                        iQ Power AG, also took part in
the meeting and explained the great sales potential of the iQ Power
technology.

The delay in participation is solely due to technical issues. BankM gave
the following statement to explain the situation. 'The delay was caused by
difficulties arising from the Settlement procedures of the Korean central
securities administration, KSD.' The delay in reporting the situation arose
due to the necessity of making sure all regulatory procedures could be
realized before giving out an official statement.

In order to meet the requirements of KSD, iQ Power will conduct a new
rights issue. Assuming the approval of the Board of Directors, the rights
issue will be from October 11th to October 25th followed by the private
placement. Although the capital increase is aimed at the Korean
shareholders, due to stock exchange and legal regulations all shareholders
will be able to participate.

The conclusion of the capital increase is required prior to the listing of
the voting and dividend preference shares (WKN A0DQVL / ISIN CH0199540599)
on the stock exchange in Germany. After the listing, the preference shares
will be able available for trading on the exchange.

Management


About iQ POWER
iQ Power develops and markets technologies for new types of starter
battery. At the heart of this technology are the world's first starter
batteries to feature more efficient automated electrolyte mixing with
passive elements - a patent of iQ Power.

For iQ Power's licensees, the new generation of starter batteries offers
significant advantages in terms of increased customer benefit, higher
product reliability and life cycle stability, a longer useful life and
improved environmental and resource protection. In 2010, this ecological
innovation won iQ Power the prestigious Automechanika Innovation Award for
outstanding product innovation.

As a stock corporation, iQ POWER AG is a listed company. The company's
securities are traded on the regulated market (General Standard) of the
German Stock Exchange in Frankfurt, over the counter on the stock exchanges
in Berlin, Düsseldorf, Munich and Stuttgart as well as via XETRA (ISIN:
CH0020609688, German Securities Code Number (WKN): A0DQVL, IQPB).




Contact:
Company Contact:
iQ Power AG
Metallstrasse 6
6304 Zug
Schweiz 
info@iqpower.com
www.iqpower.com

Investor Relations Contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt am Main
Tel.: +49 (0)69 - 74 30 37 00
Fax: +49 (0)69 - 74 30 37 22 
iQPower@gfei.de
www.gfei.de


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Language:     English
Company:      iQ Power AG
              Metallstrasse 6
              6304 Zug
              Switzerland
Phone:        +41 41 7680360
Fax:          +41 41 768 03 68
E-mail:        investor-relations@iqpower.com
Internet:  www.iqpower.com
ISIN:         CH0020609688
WKN:          A0DQVL
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of Announcement                             DGAP News-Service

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