Ad-hoc | 10 August 2010 15:39
HCI Capital AG / Capital Increase
10.08.2010 15:39
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
The Management Board of HCI Capital AG has decided today, with the approval
of the Supervisory Board, to increase the Company's subscribed capital from
EUR 24.000,000 to EUR 29,354,116 from authorised capital, excluding
shareholders' subscription rights, by issuing 5,354,116 new no-par value
registered shares for a contribution in kind. Major creditor banks have
been authorised to subscribe directly and indirectly respectively for the
new shares in exchange for a contribution in kind of their outstanding
receivables from loan and guarantee agreements amounting to a nominal of
EUR 31.5 million including interest. The debt-to-equity swap will generate
a profit before tax of EUR 24.2 million for HCI Capital AG. By converting
receivables against HCI Capital AG into equity, the banks are making a
vital contribution to sustainably strengthening the Company's capital base.
The Company expects the implementation of the capital increase to be
recorded in the Register of Companies (Handelsregister) by 20 August 2010.
The Company also expects that it will soon be in a position to announce its
release from contingent liabilities, as stated in the ad hoc announcement
dated 11 February 2010. The cancellation of these liabilities will give all
banks involved a compensation claim in the aggregate amount of EUR 12.5
million. This compensation is only payable if certain earnings and
liquidity thresholds are reached. Furthermore, a fee of EUR 2.7 million in
total is payable immediately in exchange for the release from liabilities
for all individual projects.
Contact:
HCI Capital AG
Dr. Olaf Streuer
Head of Corporate Communication / Business Development
Tel: +49 40 88 88 1 1100
olaf.streuer@hci-capital.de
10.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: HCI Capital AG
Burchardstraße 8
20095 Hamburg
Deutschland
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: ir@hci-capital.de
Internet: www.hci-capital.de
ISIN: DE000A0D9Y97
WKN: A0D9Y9
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in München, Düsseldorf, Berlin, Stuttgart,
Hannover
End of News DGAP News-Service
---------------------------------------------------------------------------