WashTec AG — Share Issue/Capital Change 2005

Jul 18, 2005

News Details

Ad-hoc | 18 July 2005 20:03

WashTec sets subscription price for its new shares

WashTec AG / Key word(s): Issue of Equity

18.07.2005 / 20:03

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Augsburg, 18 July 2005 – The Management Board and Supervisory Board of WashTec AG today set the subscription price at EUR 5.00 per share for 7,600,000 new shares, which the company is planning to offer its shareholders in connection with its capital increase approved by the Annual General Meeting (AGM) on 15 June 2005. These board decisions were made on the basis of the conditions in the AGM approval. The bank syndicate of Cazenove AG und Commerzbank Aktiengesellschaft, which are acting as joint bookrunners and joint lead-managers in this offering will underwrite 4,761,970 shares to be offered first to WashTec shareholders for subscription on a 1:1 basis, while 2,838,030 shares will be underwritten by the shareholders Achernar Vermögensverwaltung GmbH, Augias Vermögensverwaltung GmbH and Edelmar Vermögensverwaltung GmbH, in exchange for capital contributions in kind. The subscription period is expected to begin on 22 July 2005 and end on 5 August 2005. The subscription rights will be traded on the Frankfurt Stock Exchange likely from 22 July 2005 through 3 August 2005. The new shares carry dividend rights as of 1 January 2005. The new issue will raise the capital stock of EUR 20,000,000.00 by EUR 20,000,000 to EUR 40,000,000. The proceeds from the capital increase will serve to strengthen the equity base and, thus, primarily to reduce existing debt. Based on the offering price of EUR5.00 a share, the discount for the new shares compared to the 20 day average share price is approx. 26%. The syndicate banks have already received irrevocable undertakings from existing shareholders to subscribe for 1,305,325 new shares in relation to the cash contribution which, together with the shares underwritten in relation to the contribution in kind, account for approx. 55 % of the new shares.

Contact:

Karoline Kalb, Investor Relations

WashTec AG

Argonstraße 7

86153 Augsburg

Tel.: +49 (0)821 – 55 84 – 0

Fax: +49 (0)821 – 55 84 – 12 06

End of ad hoc announcement

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Language:	English
Company:	WashTec AG
	Argonstraße 7
	86153 Augsburg
	Germany
Phone:	+49 (0)821 55 84-0
Fax:	+49 (0)821 55 84-1135
E-mail:	washtec@washtec.de
Internet:	www.washtec.de
ISIN:	DE0007507501
WKN:	750750
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News	DGAP News-Service

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