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HMS Bergbau AG
M&A Activity • May 17, 2018
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Ad-hoc | 17 May 2018 20:35
HMS Bergbau AG: is planning sale of up to 15 percent of Silesian Coal International Group of Companies S.A.
HMS Bergbau AG / Key word(s): Investment/Miscellaneous
HMS Bergbau AG: is planning sale of up to 15 percent of Silesian Coal International Group of Companies S.A.
17-May-2018 / 20:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of an Insider Information according to Article 17 MAR as per 17 May 2018
HMS Bergbau AG is planning sale of up to 15 percent of Silesian Coal International Group of Companies S.A.
Berlin, 17 May 2018: The Management Board of HMS Bergbau AG, one of the leading independent raw materials marketing and trading companies in Germany and a major shareholder of Silesian Coal International Group of Companies S.A. (“Silesian”), is planning to sell up to 15 percent of Silesian Coal International Group of Companies S.A. to Carbo Funding AG. The purchase price is expected to be EUR 10 per share. HMS Bergbau AG intends to use the proceeds from the sale of the stake to finance the preparations for coal mining in Orzesze, Poland, and strengthen the company’s international trading activities.
Carbo Funding AG is a special purpose financing entity that directly and indirectly invests in promising coal development projects. The company is in the process of preparing to place a listed short-term senior secured bond (2018-2019/21) in an amount of up to EUR 30 million (ISIN: DE000A2G8WX5, WKN: A2G8WX, ticker symbol: CFY1) to finance its activities. The sale of up to 15 percent of Silesian to Carbo Funding AG is subject to the success of Carbo Funding AG’s bond transaction. In the course of the transaction, mutual, differently structured tender rights of the shares were agreed between the contractual parties.
The drilling in Orzesze, carried out by HMS and based on an exclusive exploration license, indicate potential coal reserves of 2.2 billion tonnes in-situ, of which approximately 672 million tonnes were identified as high-grade, recoverable coal according to the JORC standard. Silesian plans to develop the reserves using the existing infrastructure and to build production to roughly 3 million tonnes of coal annually at low cost (approx. 1/3 of the cost of a greenfield project) and at in a short period of time (within two and a half years of receiving the mining licence). The planned production is split equally between high-margin coking coal and thermal coal. HMS expects to receive the mining license for the 20 km² lot in the historic Katowice (Poland) coal mining region as early as this year.
The Management Board
Contact:
Company contact:
HMS Bergbau AG
An der Wuhlheide 232
12459 Berlin
T.: +49 (30) 65 66 81-0
F: +49 (30) 65 66 81-15
Email: [email protected]
URL: www.hms-ag.com
HMS Investor Relations contact:
GFEI Aktiengesellschaft
Ostergrube 11
30559 Hannover
T.: +49 (511) 47 40 23 00
F.: +49 (511) 47 40 23 19
www.gfei.ag
Email: [email protected]
17-May-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | HMS Bergbau AG |
| An der Wuhlheide 232 | |
| 12459 Berlin | |
| Germany | |
| Phone: | 030 65 66 81-0 |
| Fax: | 030 65 66 81-15 |
| E-mail: | [email protected] |
| Internet: | www.hms-ag.com |
| ISIN: | DE0006061104 |
| WKN: | 606110 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board) |
| End of Announcement | DGAP News Service |