euro adhoc: TA Triumph-Adler AG
Restructuring & Recapitalisations
TA
implements crucial part of refinancing
Announcement as per § 15 of the Securities Trading Act (WpHG) -
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
27.07.2007
Ad hoc announcement
TA Triumph-Adler AG implements crucial part of refinancing
Capital increase entered in the commercial register; high oversubscription of the issue
Nuremberg, July 27, 2007: The cash capital increase from the approved capital of TA Triumph-Adler AG, which was approved on July 2, 2007, was entered in the commercial register today and will now be implemented rapidly. The issue comprises 14,897,882 ordinary bearer shares at an issue price of EUR1.88. Shareholders were entitled to a statutory subscription right equivalent to the level of their current shareholdings in the company. Shareholders have also been granted an oversubscription to the same level as the statutory subscription right. The capital increase was significantly oversubscribed as a result of the high level of demand from both existing shareholders, as well as institutional investors that have shown interest in the issue. The company will endeavor to have the new shares admitted to the stock exchange as soon as possible.
The cash capital increase is connected with an extensive refinancing of the group. Following the successful completion of the placing of the capital increase, the other components of the refinancing of liabilities will be completed by August 6, 2007 prospectively.
The refinancing will, among other things, reduce the interest expense by around EUR5 million per year compared with the current financing structure and on the basis of today's level of debt. It will also form the starting point for the planned higher rate of growth of the company resulting from acquisitions. In addition, the strengthening of the equity capital allows the company to offset the value adjustment of the deferred tax assets in the consolidated balance sheet, which will be performed in the third quarter of the current financial year as a result of the reform of corporate taxation.
In the first quarter of the 2007 financial year, the specialist in efficiency in the Document Business grew half-year revenue to EUR105.2 million and achieved quarterly earnings of EUR1.9 million. By 2010 at the latest, TA Triumph-Adler aims to generate Group revenue of over EUR500 million with an EBIT return on sales of 9%.
Contact: TA Triumph-Adler AG Südwestpark 23 D - 90449 Nuremberg Dr. Joachim Fleïng Telephone: +49 / 911 / 68 98 - 499 Fax: +49 / 911 / 68 98 - 200 ir@ta.ag www.triumph-adler.de
ISIN code of the bearer shares: DE0007495004, admitted to official trading (Prime Standard) of the Frankfurt Securities Exchange as well as at all regional German stock exchanges
Important notice: This press release contains forward-looking statements that are based on assumptions and estimates made by the management of TA Triumph-Adler AG. Although the management of the company is of the view that these assumptions and estimates are appropriate and applicable, future actual developments and future actual events may diverge significantly from these assumptions and estimates due to numerous factors. These factors may include, by way of example, changes in the macroeconomic situation, exchange rates, interest rates, as well as changes both within the market and in the competitive environment as the result of technological change. TA Triumph-Adler AG provides no guarantee, and accepts no liability, if future developments, and results achieved in the future, do not accord with the assumptions and estimates expressed in this press release.
end of announcement euro adhoc 27.07.2007 13:25:36
Further inquiry note:
Uschie Wühr
Investor Relations
Telefon: +49(0)89 51084-914
E-Mail: uschie.wuehr@triumph-adler.de
Branche: Semiconductors & active components
ISIN: DE0007495004
WKN: 749500
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade