MBB Industries AG successfully places treasury shares
- Placement price of EUR24.65 per share
- Increase in equity, liquidity and free float
- Cash inflow to be used primarily for further acquisitions
Based on the authorisation in the resolution by the Annual General Meeting on 18 June 2012 in the version dated 17 June 2013, the Managing Board of MBB Industries AG, which is listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE000A0ETBQ4; German Securities Identification Number A0ETBQ), resolved on 27 March 2014, with the approval of the Supervisory Board, to sell 144,201 treasury shares - equivalent to the total number of treasury shares held by MBB Industries AG - to an institutional investor by way of a private placement, with shareholders' subscription rights disapplied. The sale was immediately transacted indirectly via WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank at a price of EUR24.65 per share. The gross proceeds of the transaction amounted to EUR3,554,554.65.
The placement of the treasury shares resulted in an increase in the equity and free float of MBB Industries AG. The inflow of liquidity is to be used in particular for future acquisitions.
MBB Industries AG is a family-owned, medium-sized corporation that has expanded steadily as a result of organic growth and the acquisition of other companies since it was founded in 1995. Achieving a long-term increase in the value of the individual companies and the Group as a whole lies at the heart of its business model. This business model has been highly profitable since the outset - substantial growth and sustainable returns will remain MBB Industries AG's goal in future as well.
Further information on MBB Industries AG can be found on the Internet at http://www.mbb.com