Shareholders of Adval Tech approved capital increase
Annual General Meeting of Adval Tech Holding Ltd
The proceeds of the capital increase will be used to refinance the bridge loans related to the acquisition of Omni Investors Pte based in Singapore, which was completed on January 15, 2008.
Shareholders will be allocated one subscription right for every registered share with a nominal value of CHF 20 held at the record date on April 25, 2008. Subject to certain selling restrictions, one subscription right will entitle shareholders to subscribe for one new registered share at CHF 275 per share.
The subscription rights will be traded on the SWX Swiss Exchange between April 28, 2008 and May 5, 2008 and shall be exercisable from April 28, 2008 until 12.00 noon CET on May 6, 2008. Delivery of new shares against payment of the offer price will take place on May 9, 2008.
Based on the total of 365,000 new registered shares offered, Adval Tech will raise gross proceeds of approximately CHF 100 million. The rights issue has been fully underwritten by Credit Suisse in its role as Lead Manager. Valartis Bank AG will act as Co-Manager.
Adval Tech Gruppe
The Adval Tech Group is a leading global supplier of tools, special machinery, subassemblies, systems and volume components in the technology sectors of stamping and forming (metals) and injection molding (plastics). It is a supplier and value-adding partner for companies in selected industries where metal, plastic or composite components are manufactured and used in large volumes. Adval Tech covers the entire value chain: from product design and the development of volume components through design and production of the necessary molds and dies to complete manufacturing systems and the resulting production of components. The Adval Tech Group focuses on selected markets in the automotive, medical technology and consumer goods sectors.
Adval Tech trades on the markets under the names of Styner+Bienz, QSCH, AWM, Foboha, Teuscher and Omni.