Issue price of EUR 12.50 for Derby Cycle AG shares
The placement volume amounts to EUR 76.1 million, and comprises 6,090,000 shares, including an over-allotment, of the total of 6,840,000 shares offered. Of these shares, 4,590,000 shares derive from the selling shareholders' holdings (including an over-allotment of 792,175 shares). Despite the oversubscription, the selling shareholder, Finatem, has decided to retain an interest of 750,000 shares, equivalent to 10% of the company's share capital, in order to participate in the future growth of Derby Cycle. An amount of EUR 18.8 million accrues to Derby Cycle AG as gross issue proceeds arising from the capital increase, which entails a volume of 1,500,000 shares. The company's share capital was increased by EUR 1,500,000 to EUR 7,500,000.
Approximately 96.6% of the shares placed were allocated to institutional investors and 3.4% to private investors. Private investors will be allocated 25% of their subscription, with a minimum of 100 shares. The preferential allocation comprised placing around 78,150 of the shares offered with management and supervisory board members, and with parties related to the company or the selling shareholders.
After the offering has been fully completed and the over-allotment option has been fully exercised, the free float will amount to 81.2%, or to 70.6% excluding the exercise of the over-allotment option. The initial quotation of Derby Cycle AG shares on the Frankfurt Stock Exchange, Prime Standard, is intended on February 4, 2011.
This publication constitutes neither an offer to sell nor an invitation to buy securities.The shares in Derby Cycle AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the Securities Act of 1933, as amended (the "Securities Act")) absent registration or an exemption from registration under the Securities Act. The Shares have not been and will not be registered under the Securities Act. No offer or sale of securities is being made to the public outside Germany. The offer in Germany will be made exclusively by means of and on the basis of a prospectus published on the website of Derby Cycle AG www.derbycycle. com. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Derby Cycle Holding GmbH
In terms of revenues, the company is the largest bicycle manufacturer in Germany and one of the leading manufacturers in Europe. The Derby Cycle Group's top-quality product range includes e-bikes, sport bikes for leisure cycling and competition, and comfort bikes for every day and travel use. These are sold using the well-established brands of Kalkhoff, Focus, Raleigh, Univega and Rixe. Derby Cycle sells models under each of its brands that are tailored to different target groups. All of the models are developed in Germany, the frames are made by contract manufacturers in Asia, the further components, such as forks, rechargeable batteries and gears are bought in and assembled in Cloppenburg. Derby Cycle attaches great value to the high quality of its bicycles and a differentiated brand presence. This allows Derby Cycle to sell its products via specialist retailers, who offer their customers professional advise and extensive service. They are thus the most important sales channel for normal bicycles and e-bikes.
In fiscal year 2009/2010 Derby Cycle recorded revenues of EUR 173 million with an average of approx. 550 employees. Of this figure, it recorded 72.6% in Germany and 27.4% abroad. Derby Cycle sold a total of around 430,000 bicycles last fiscal year, including around 44,000 e-bikes.
On the Internet at: www.derby-cycle.de