Dürr Aktiengesellschaft / Capital Increase
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- € 44.0 million placed at a price of € 28.00
- Basis for financing growth
- Optimization of financing structure
Stuttgart, June 17, 2008 – Today, the Board of Management of Dürr AG
resolved to carry out a capital increase for cash excluding shareholders'
subscription rights. On the strength of an authorization passed by the
Annual Shareholders’ Meeting in 2006 1,572,500 bearer ordinary shares (just
under 10% of the capital stock) were placed mainly with institutional
investors in an accelerated bookbuilding process. With a placing price of €
28.00 the proceeds (before transaction fees) for Dürr AG amount to € 44.0
million. The capital stock has increased from € 40,263,731 to € 44,289,331.
The Supervisory Board's approval of the capital increase is currently being
obtained.
With the capital increase Dürr intends to further improve its financing
structure. The aim is greater long-term security and at the same time
flexibility and efficiency.
Another purpose of the capital increase is to secure the basis for
financing growth. Besides above-average organic growth relative to the
market, Dürr also plans several smallish bolt-on acquisitions to round out
its activities.
Dürr intends to redeem a substantial part of its high-yield bond in the
summer of 2008. In addition, negotiations are currently being conducted in
the credit consortium for prolonging and increasing the syndicated credit
facility in line with the company’s improved situation. This package of
measures will probably yield significant relief in interest expense already
in 2009. Dürr expects this to have a positive effect on earnings per share
and thus create value for shareholders. In addition, Dürr expects an
accelerated upgrading of its corporate ratings by the rating agencies.
Information and Explaination of the Issuer to this News:
DISCLAIMER:
THIS PUBLICATION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED,
AND SHOULD NOT BE CONSTRUED, AS AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES. NO OFFER OF SECURITIES OF
DÜRR AG, STUTTGART IS BEING, OR WILL BE, MADE IN ANY JURISDICTION.
THIS PUBLICATION AND THE INFORMATION CONTAINED HEREIN IS NOT FOR
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA OR JAPAN. THE SECURITIES OF THE COMPANY DESCRIBED
HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT
OF 1933, AS AMENDED (THE 'SECURITIES ACT'), OR THE LAWS OF ANY STATE, AND
MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT PURSUANT TO AN
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS. THERE WILL BE
NO PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.
Contact:
Dürr AG
Günter Dielmann
Corporate Communications & Investor Relations
Phone +49 (0)711 136-1785
Fax +49 (0)711 136-1716
E-mail corpcom@durr.com
17.06.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Dürr Aktiengesellschaft
Otto-Dürr-Strasse 8
70435 Stuttgart - Zuffenhausen
Deutschland
Phone: +49 (0)711 136-0
Fax: +49 (0)711 136-1034
E-mail: investor.relations@durr.com
Internet: www.durr.com
ISIN: DE0005565204
WKN: 556520
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg
End of News DGAP News-Service