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LAIQON AG — Earnings Release 2014
Sep 18, 2014
5417_rns_2014-09-18_bb46d583-4c4c-489a-a0a0-a64aa92bcae3.html
Earnings Release
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Corporate | 18 September 2014 07:21
Lloyd Fonds Aktiengesellschaft:
Lloyd Fonds Aktiengesellschaft / Key word(s): Half Year Results
18.09.2014 / 07:21
/
Corporate News
Lloyd Fonds AG: Result in first half of 2014 and outlook positive.
– Net profit in first half of the year
– Implementation of share capital reduction to improve balance sheet quality will follow in due course
– Placement of new special-purpose real estate fund expected to begin in October 2014
– Positive outlook for the current second half of 2014
Hamburg, September 18, 2014. In what remains a challenging market environment, in the first half of 2014 Lloyd Fonds AG generated consolidated net profit of 0.2 million euros (previous year: 1.2 million euros), essentially based on its successful asset management activities. Assets held under trust remain at a constant level above 1.6 billion euros. Cash & cash equivalents amounted to approx. 5.8 million euros as of June 30, 2014 (previous year: 3.8 million euros). Accordingly, Lloyd Fonds AG has a solid financial base at its disposal.
The Management Board is confident regarding the performance for the current financial year 2014 as a whole. Despite the ongoing difficult market conditions, consolidated earnings are expected to be in positive territory, roughly at the same level as the previous year.
Implementation of the capital reduction adopted to take place in the next several days
At the ordinary general meeting on August 21, 2014, with 71.43 percent of common stock being represented, the shareholders approved the proposal to lower the share capital with a majority of 99.90 percent. In particular, this capital reduction is intended to bring about a substantial improvement in balance sheet quality and to underpin the share price. In addition, the capital reduction will help lay the foundations to be able to pay dividends again in future.
For the shareholders, the technical implementation of the capital reduction in a ratio of 3:1 due in a few days will mean that the number of shares held by them will be divided by three, while the share price is expected to see a corresponding, substantial rise. In the process, the proportion of the share capital held by each individual shareholder and the value of his or her holding will remain the same as of the date of conversion. Due to the reduction, the share capital as a whole will decline from 27,469,926.00 euros to 9,156,642.00 euros.
The custodian banks will carry out the conversion of the number of shares in the relevant securities accounts on September 19, 2014 after the close of trading. At the beginning of the week starting on Monday, September 22, 2014, the order book holder on the stock exchange will increase the share price accordingly. In the process, those shareholders who possess a number of shares that cannot be divided by three will be able to participate in what is known as a settlement of fractions by acquiring or disposing of fractions of shares. The banks will notify their clients of the relevant details in writing in good time.
New special-purpose real estate fund ready for placement, development of additional products announced, positive outlook for the current financial year
With the planned distribution launch of its first special real estate fund, Lloyd Fonds AG will predominantly give trusts, family offices and church institutions the opportunity to participate in a diversified manner in the development of two metropolitan regions. Investment policy provides for investments to be made predominantly in Hamburg and Berlin. A particularly suitable supply situation is available outside central, inner-city locations, promising comparatively high returns thanks to the good future prospects of the two growing metropolises. Hauck & Aufhäuser Investment Gesellschaft S.A., Luxembourg, a subsidiary of the bank Hauck & Aufhäuser, will be acting as a capital management company (AIFM). The special-purpose fund is an investment stock corporation with variable capital. In this way, investors are enabled to redeem their shares on certain predefined dates. Participation in the special-purpose fund is exclusively reserved to investors from a minimum subscription amount of 200,000.00 euros. The fund costs correspond to those of institutional funds and are at the lower end of the scale in a market comparison. Average payouts of 5% p.a. before taxes and costs are forecast, which are to be disbursed on a half-year basis.
“The market is and remains challenging. Thanks to our asset management and the solid capital resources of our company, we are in a good position. We plan to use this as a basis in order to study and exploit all opportunities for strategic further development of Lloyd Fonds AG in its two fields of expertise, namely maritime shipping and real estate,” says Dr. Torsten Teichert, CEO of Lloyd Fonds AG.
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The detailed half-year report is published on the website of Lloyd Fonds AG at www.lloydfonds.de .
About Lloyd Fonds AG:
Lloyd Fonds AG is one of the best established issuing houses for property investments in Germany. Lloyd Fonds focuses on real assets in the fields of shipping and real estate. Year to date, the Hamburg-based company has launched 106 funds with an investment volume of approx. 5 billion euros. Over 53,000 investors have meanwhile invested roughly two billion euros in equity in the funds of Lloyd Fonds AG. These investors are taken care of by Lloyd Treuhand GmbH. Lloyd Fonds has been listed on the Frankfurt Securities Exchange since 2005 (WKN 617487, ISIN DE0006174873).
Press and IR Liaison Officer:
Hendrik Duncker
Tel: +49-40-32 56 78-145
Fax: +49-40-32 56 78-99
Email: [email protected]
Contact:
Christiane Brüning
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-0
Fax: +49-40-325678-99
Mail: [email protected]
18.09.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Lloyd Fonds Aktiengesellschaft |
| Amelungstr. 8-10 | |
| 20354 Hamburg | |
| Germany | |
| Phone: | +49 (0)40 32 56 78-0 |
| Fax: | +49 (0)40 32 56 78-99 |
| E-mail: | [email protected] |
| Internet: | www.lloydfonds.de |
| ISIN: | DE0006174873 |
| WKN: | 617487 |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Frankfurt in Open Market (Entry Standard) |
| End of News | DGAP News-Service |
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| 287551 18.09.2014 |