DGAP-News: Gesco AG / Key word(s): Miscellaneous/Miscellaneous15.12.2016 / 11:15
The issuer is solely responsible for the content of this announcement.
- Share split preceded by capital increase through own funds
- Number of shares to triple
- Goals: Increase attractiveness of share, support liquidity
Wuppertal, 15 December 2016 - The share split in a ratio of 1:3 resolved at this year's GESCO AG Annual General Meeting is to be implemented on 22 December 2016. An increasing number of predominantly private investors have been expressing a desire to "lighten" the share by means of a share split. After the split, the market value will be distributed across a greater number of shares, effectively meaning that the share price in euros will fall.
"This split is a response to suggestions from many of our shareholders," said Chairman of the Executive Board, Dr Eric Bernhard. "It is geared towards easing trade in the GESCO share, making the share more attractive to investors and increasing liquidity on the capital market."
The necessary entries in the commercial register have already been completed. Before the share split, GESCO AG's share capital amounted to EUR 8.645 million, divided into 3.325 million registered shares each with a nominal value of EUR 2.60. In the run-up to the share split, the share capital was increased to EUR 9.975 million by converting capital reserves. This constituted a capital conversion within equity capital, the total of which remained unchanged; the company did not generate any new funds. The increased share capital was then re-divided into 9.975 million shares each with a nominal value of EUR 1.00.
The share split is to be implemented in conjunction with Clearstream Banking AG on 22 December 2016. Shareholders' safe custody accounts will be updated on this date, with one "old" share being converted into three "new" shares. This will result in the number of shares tripling and the share price being reduced accordingly. Pending orders will expire at the end of 21 December 2016. There will be no changes to the technical properties of the shares (ISIN, WKN, ticket, Reuters code) as a result of the split.
Please visit www.gesco.de/sharesplit for further information.
GESCO AG is an industrial group with market and technology leaders in the investment goods industry focusing on production process technology, resource technology, health and infrastructure technology and mobility technology. As a stock listed company on the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of leading small and medium-sized industrial German companies, so-called hidden champions of Germany's Mittelstand.
Investor Relations - Oliver Vollbrecht
Tel. +49 202 24820-18 - Fax +49 202 24820-49
E-mail: firstname.lastname@example.org - Internet: www.gesco.de
15.12.2016 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. Archive at www.dgap.de