Manz Automation AG resolves capital increase and transition to Prime Standard
- Issue of 896,011 new shares with a subscription ratio of 4:1
- Subscription period from June 13 to 27, 2008
- Listing in Frankfurt Stock Exchange's Prime Standard scheduled for July 1, 2008
The Managing Board of Manz Automation AG today resolved a capital increase from authorized capital, with the approval of the Supervisory Board. A total of 896,011 new, no-par value bearer shares are to be issued in the course of a public offer, increasing the company's share capital from a current total of EUR 3,584,043 to EUR 4,480,054. The shares are to be offered to the company's shareholders for subscription in the period from June 13 to 27, 2008. In line with the 4:1 subscription ratio, four old shares of Manz Automation AG entitle the holder to subscribe for one new share. The company has engaged Commerzbank AG and Credit Suisse Securities (Europe) Limited as Joint Lead Managers.
The subscription price for the new shares is expected to be determined and published on June 23, 2008. Subscription rights are expected to be traded from June 23 to 25, 2008 under ISIN DE000A0SFR65 in the open market on the Frankfurt Stock Exchange (floor trading). As part of its capital increase, Manz Automation AG will transition from Frankfurt Stock Exchange's open market (Entry Standard) to the regulated market (Prime Standard), as previously announced. Listing of both the old and new shares of the company in the Prime Standard is scheduled for July 1, 2008.
The capital increase will secure the funds required to finance the Manz Group's further growth. In particular, the Manz Group plans to increase its value added in its systems.solar division by making targeted acquisitions. The company aims to gain access to additional innovative technologies via increased research and development investments. In addition, part of the proceeds from the issue is to be used to refinance the acquisitions the company has made in 2008. Furthermore, the company plans to invest in increasing its production capacity and further setting up and expanding its sales and service locations in Germany and abroad. It also plans to set up a technology and training center at its headquarters in Reutlingen.
Dieter Manz, Manz Automation AG's CEO, stated further reasons for the planned transaction: "We aim to further expand our position on high-growth markets such as China, Spain, India and the USA and thus benefit from the global growth in the solar industry. The anticipated proceeds from the issue will allow us to consistently implement our growth targets and further increase both our revenues and operating result. In addition, transitioning to the Prime Standard will give us the opportunity of moving up into the TecDAX in the medium term. This will increase awareness among international investors and increase the Manz Automation AG's attractiveness on the capital market."
Further information on the capital increase can be found in the securities offering prospectus which, subject to approval by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin - German Financial Services Supervisory Authority), is expected to be published on June 11, 2008, and the subscription offering, which is scheduled to be published on June 12, 2008 in the electronic federal gazette and the Börsen-Zeitung. After approval by BaFin, the securities offering prospectus can be viewed and downloaded from the Investor Relations section of the company's Web site at www.manz-automation.com.
This publication constitutes neither an offer to sell nor an invitation to make an offer to buy securities in the United States. The shares and the subscription rights with regard to shares in Manz Automation AG 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 U.S. Securities Act of 1933, as amended (the "Securities Act")) absent registration or an exemption from registration under the Securities Act. The shares and the subscription rights with regard to shares in Manz Automation AG have not been and will not be registered under the Securities Act. Any public offering of securities or subscription rights to be made in the United States will only be made by means of a prospectus which would be available at Manz Automation AG and which would contain detailed information about Manz Automation AG and its management as well as its financial statements.
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Reutlingen-based Manz Automation AG (ISIN: DE000A0JQ5U3) is one of the world's leading technology providers in terms of market shares for systems for automation, quality assurance and laser process technology for the photovoltaic industry and for automation and wet chemicals for the LCD industry. The Manz Group's core competences are in robotics, image processing, laser technology, wet chemicals as well as control and drive technology. The Manz Group's key strategic divisions are photovoltaic (systems.solar), LCD (systems.lcd) and OEM systems (systems.aico) for automation in various industrial sectors and the life science industry. The Manz Group has sales and service branches in Germany, Taiwan, the USA, China, South Korea, India and Spain. In addition, the Manz Group has its own production facilities in Germany, Slovakia, Hungary, Taiwan and China. The Manz Group recorded revenues of € 71.2 million in fiscal year 2007 with an EBIT margin of 14.1%. More than 57% of revenues were generated abroad, in particular in Asia. The Manz Group recorded revenues of € 101.6 million and an EBIT margin of 11.8% in the first half of fiscal year 2008.