DGAP-News: KTG Agrar decides to increase share capital by up to ten percent
(firmenpresse) - KTG Agrar AG / Capital Increase
23.03.2010 18:02
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- Biogas production to be expanded significantly
- Segment offers high planning certainty and high margin
Hamburg, 23 March 2010 - Pursuant to a decision taken by the Managing Board
of KTG Agrar AG (ISIN DE000A0DN1J4) and endorsed by the Supervisory Board
today, 23 March 2010, the company's share capital is to be increased by an
amount of up to EUR 516,000 to up to EUR 5,676,000. The share capital
currently amounts to EUR 5,160,000 divided into 5,160,000 bearer shares of
a nominal value of EUR 1. The increase is to be effected by issuing up to
516,000 bearer shares with profit entitlement from the financial year 2009
against cash. Existing shareholders' subscription rights have been excluded
in accordance with section 6 of the company's statutes. The up to 516,000
new ordinary shares will be offered to German and international
institutional investors by way of an accelerated bookbuilding process.
Frankfurt-based DZ BANK AG will be acting as Sole Lead Manager and Sole
Bookrunner on this transaction.
KTG Agrar will use the proceeds to finance its dynamic growth. While the
focus in the past years was on the expansion of the company's farmland to
over 30,000 hectares, KTG Agrar will now concentrate on the biogas segment.
'The conditions for the production of biogas are excellent at present,'
said Siegfried Hofreiter, CEO KTG Agrar. 'We want to take advantage of this
situation.'
Besides the cultivation of organic and conventional agricultural resources,
the production of heat and electricity from biogas has been the
Hamburg-based company's third business segment since 2007. KTG Agrar
currently operates biogas plants with an electrical output of approx. 11
megawatts (MW) and intends to increase the production capacity
significantly in the coming years. The reasons for this decision: high
planning certainty and a high margin. Under the applicable German Renewable
Energy Sources Act (EEG), a guaranteed fixed price will be paid for
electricity fed into the public grid over a period of 20 years. Thanks to
the synergies arising from the combination of farming and biogas
production, KTG Agrar generates a margin of more than 20 percent. Says
Siegfried Hofreiter: 'The disproportionate growth in this segment will
allow us to increase our overall profitability.' In addition, KTG Agrar
intends to expand its farmland. The company wants to increase the
percentage of own farmland in relation to leased farmland so as to benefit
from rising prices of the scarce resource that is farmland. The company is
also optimistic as regards the production of agricultural commodities. The
winter grain sown in the autumn has come safely through the cold season,
and the international futures exchanges indicate that the prices of grain,
maize and rapeseed will increase.
About KTG Agrar:
With cultivable land of more than 30,000 hectares, KTG Agrar AG is one of
the leading producers of agricultural commodities in Europe. The
Hamburg-based company's core area of expertise is the organic and
traditional cultivation of market products such as cereals, maize and
rapeseed. KTG Agrar is the market leader for organic market products in
Germany, in terms of cultivable land area. The company has had a third
mainstay in the production of bioenergy. At present, KTG Agrar operates
biogas plants with a total electrical connection capacity of around eleven
megawatts. The company mainly produces in Germany but has also operated
production in the EU full member state of Lithuania since 2005. In the year
2008, KTG achieved a total output of EUR 49 million and EBIT of EUR 7.5
million. Since November 2007 the company is listed on the Frankfurt Stock
Exchange and currently mote than 200 employees. Further information can be
found at www.ktg.ag.
Contact:
Investor Relations / Press
Fabian Lorenz
IR.on AG
Tel: +49 221 914097 - 6
E-Mail: fabian.lorenz(at)ir-on.com
23.03.2010 18:02 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: KTG Agrar AG
Ferdinandstr. 12
20095 Hamburg
Deutschland
Phone: +49 (0)40-303 76-47
Fax: +49 (0)40-303 76-799
E-mail: info(at)ktg-agrar.de
Internet: www.ktg-agrar.de
ISIN: DE000A0DN1J4
WKN: A0DN1J
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart; Open
Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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Datum: 23.03.2010 - 13:02 Uhr
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