DGAP-News: Gesco AG / Key word(s): Capital Increase/Capital Increase21.03.2017 / 09:47
The issuer is solely responsible for the content of this announcement.
Wuppertal, 21 March 2017 - GESCO AG, a company listed in the Prime Standard, increases its share capital by conducting a "small" capital increase by the greatest amount legally permissible of approximately 10% of the share capital at the point of time when the Annual General Meeting resolved the respective resolution and issue 864,499 new shares. The measure will result in share capital increasing to EUR 10,839,499, divided into the same number of registered shares.
The new shares were placed with institutional investors only by equinet Bank AG at a price of EUR 23.50 per share. The proceeds of the issue amount to approximately EUR 20 million. The issue was oversubscribed several times.
The new shares will have full dividend rights for the current financial year (1 April 2016 through 31 March 2017). The measure was conducted in an accelerated bookbuilding process, shareholders' subscription rights were excluded. Entry of the capital increase in the commercial register at Wuppertal district court as well as the admission of the new shares to trading will be initiated immediately.
Dr Eric Bernhard, Chairman of the Executive Board of GESCO AG: "We considerably strengthened our portfolio through the acquisition of the Pickhardt & Gerlach Group, which was finalized in January 2017. In accordance with our portfolio strategy, which has been developed last year, we want to create profitable growth in future too, both in the Group as it exists today and through acquisitions. The capital increase broadens our equity base and ensures that we are fully able to act, both in terms of acquisitions and investing in the existing group. The way of a 'small' capital increase is highly efficient and cost effective. In addition, we were able to attract new investors from Germany as well as abroad and thereby broaden our shareholder base."
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: email@example.com, Internet: www.gesco.de
21.03.2017 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