Corporate | 13 November 2015 10:27
Ekotechnika GmbH strengthens its equity capital and adopts legal status of a joint stock company
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DGAP-News: Ekotechnika GmbH / Key word(s): Restructure of Company
Ekotechnika GmbH strengthens its equity capital and adopts legal status of a joint stock company
Walldorf, 13 November 2015 – Ekotechnika announces the execution of a capital increase by EUR 1,520,000 to EUR 3,140,000 and the change of the company’s legal status. These are the next financial restructuring measures following the capital reduction and the subsequent non-cash capital increase to implement the debt-to-equity swap. The capital increase against cash contributions was executed in accordance with the resolution adopted by the shareholders’ meeting on 23 October 2015. The issue price amounted to EUR 2.00 per share (EUR 1.00 par value). The gross proceeds from the issue of the 1,520,000 shares thus totalled EUR 3,040,000. Following the entry of the change of the legal status in the Commercial Register, Ekotechnika will henceforth operate as a joint stock company under the name of Ekotechnika AG. The share capital of Ekotechnika AG amounts to EUR 3,140,000. It is divided into 1,539,000 Series A Shares and 1,601,000 Series B Shares. The 1,539,000 new Series A Shares will be offered for purchase to the holders of the Ekotechnika bond 2013/2018 in the coming weeks (“purchase offer”). Now that the entries in the Commercial Register have been made, all preconditions for the execution of the purchase offer are fulfilled. The acquisition period for the Series A Shares is scheduled to commence in late November. Details will be announced shortly. Bondholders will additionally be informed about the procedures for exercising their acquisition rights before or at the start of the acquisition period. The Series A Shares are scheduled to be admitted to trading in the “Freiverkehr” (Primärmarkt) of the Düsseldorf Stock Exchange in December.
For more information on the restructuring process, visit the Ekotechnika website at
http://www.ekotechnika.de/de/anleihe/faqs-zur-restrukturierung.html
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About Ekotechnika
Walldorf-based Ekotechnika AG is the German holding company of the Ekoniva-Technika Group, the largest distributor of agriculture equipment in Russia. The company’s single most important supplier is John Deere & Co., the world’s leading manufacturer in this field. In addition, Ekotechnika sells equipment from another 11 market-leading manufacturers. Its main business is in selling new equipment such as tractors but also milking equipment and precision farming technology. In addition, the company sells spare parts and provides service and maintenance. Ekotechnika’s founder and board member is Stefan Dürr, who has been active in the Russian farming sector since the late eighties and has been instrumental in its modernisation over the past two decades. In 2011 the equipment business was separated from the farming business, which now operates independently under the name Ekosem-Agrar. Operating 12 locations in attractive Russian farming regions, Ekotechnika today employs around 545 people and generates sales of EUR 171 million in 2013/2014.
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Media / Investor Relations
2015-11-13 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Ekotechnika GmbH | |
| Johann-Jakob-Astor-Str. 49 | ||
| 69190 Walldorf | ||
| Germany | ||
| Phone: | +49 (0) 6227 3 58 59 60 | |
| E-mail: | info@ekotechnika.de | |
| Internet: | www.ekotechnika.de | |
| ISIN: | DE000A1R1A18 | |
| WKN: | A1R1A1 | |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart (bondm); Open Market in Frankfurt | |
| End of News | DGAP News Service |
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412023 2015-11-13
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