Press release BoxID: 126259 (Production Resource Group AG)
  • Production Resource Group AG
  • Bredowstr. 34
  • 22113 Hamburg
  • Contact person
  • Lars Schwarz
  • +49 (40) 670886-0

PROCON MultiMedia AG plans capital increase

(PresseBox) (Hamburg, ) Sales revenues of approx. EUR 86 million (2006) make PROCON MultiMedia AG (ISIN: DE0005122006, Prime Standard) Europe’s largest fullservice provider for events. In the first half of 2007, the company generated an EBITDA in an amount of EUR 9.8 million and a profit of EUR 1.2 million.

Since the 1999 IPO, PROCON has boosted its sales by over 240% and projects extraordinary sales and earnings growth also for the future. The positive performance is primarily supported by the company’s activities in the international boom regions. Examples include the Asian Games in the Middle East, the Special Olympics in China and the National Day Parade in Singapore.

In view of the continued positive business development, the company’s Board of Directors and the Supervisory Board have decided to contemplate a capital increase to the General Meeting. The volume of shares is to be increased by up to 27,183,069 to up to 36,244,092 shares.

According to the company’s plans, existing shareholder Günther Fielmann and Board members Morten Carlsson and Christian Möller will contribute loan claims in a total amount of € 16.65 million including claims under debtor warrant clauses to the company by way of a contribution in kind in return for up to 9,791,034 shares. The remaining shares will be offered to the shareholders at the same subscription ratio (1:3) against a contribution in cash. The issue price of the shares will be determined at a later date.

The increased capital will enable the company to exploit its growth opportunities more effectively. Moreover, the improved equity base and the much higher free float will have a positive effect on the share price performance.

Production Resource Group AG

PROCON ist ein Full-Service Provider für die Medien-, und Veranstaltungsindustrie. Schwerpunkt der Tätigkeit ist die Vermarktung von Licht-, Ton-, Kamera- und Präsentationstechnik sowie Studios für Events und Film- und Fernsehproduktionen. Hinzu kommt die umfassende Beratung und Betreuung rund um technisch professionell inszenierte Veranstaltungen und Film- und Fernsehproduktionen. PROCON ist mit Tochtergesellschaften, Niederlassungen und über ein breites Vertriebsnetzwerk in insgesamt zehn Ländern präsent.