Manz AG completes capital increase successful

Reutlingen - Manz AG, Reutlingen, (ISIN: DE000A0JQ5U3) today successfully completed the capital increase from authorized capital with the inclusion of the shareholders' subscription rights, which had been resolved on 20 April 2016 by the executive board with the consent of the supervisory board.

The share capital of Manz AG thus will be increased, with reservation for the recording of the implementation of the capital increase in the commercial register which is expected on 23 May 2016, from 5,420,864 euros by 2,323,224 euros to 7,744,088 euros against cash contributions. Of the 2,323,224 new shares, 1,523,480 new shares were subscribed or took over at the subscription price of 34.74 euros of each new share by Shanghai Electric Germany Holding GmbH, a German subsidiary of Shanghai Electric Group Co., Ltd. (Shanghai/PR China). By other investors, subscription rights were exercised for in total 799,744 new shares.

From the capital increase, net issue proceeds for the company amount to around 75.6 million euros, and shall serve for the repayment of company loans from German lenders, the covering of costs with cash-flow impact in the framework of the restructuring in fiscal year 2016, a possibly necessary repayment of a project loan, the financing of research and development costs and working capital as well as general corporate purposes of the Manz Group.

The new shares with full entitlement to dividends as of 1 January 2015 are expected to be included on 24 May 2016 in the existing listing in the sub-segment of the regulated market with additional post-admission obligations (prime standard) of the Frankfurt Stock Exchange.

Source: IWR Online, 20 May 2016