DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG: Start of subscription period for capital increase
(firmenpresse) - DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Capital
Increase/Regulatory Admission
MIFA Mitteldeutsche Fahrradwerke AG: Start of subscription period for
capital increase
29.06.2012 / 09:49
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MIFA: Start of subscription period for capital increase
Sangerhausen, June 29, 2012 - The subscription period for shareholders
commences today as part of the planned capital increase of MIFA
Mitteldeutsche Fahrradwerke AG. Until July 12, 2012, investors can acquire
new shares in Germany's largest bicycles manufacturer by quantity (based on
its own estimates) at a subscription price of EUR 7.00, and based on a 5:1
subscription ratio. It is planned to increase the company's share capital
by up to EUR 1.6 million from currently EUR 8.0 million to EUR 9.6 million.
The transaction is managed by Joh. Berenberg, Gossler&Co. KG ('Berenberg
Bank') as Sole Global Coordinator and Sole Bookrunner. equinet Bank AG and
Süddeutsche Aktienbank AG act as Selling Agents. From July 17, 2012 MIFA's
entire share capital will be traded in the Prime Standard segment of the
Frankfurt Stock Exchange. Thus, MIFA shares will be continuously listed at
the liquid XETRA trading platform and supported through designated
sponsoring. The subscription rights will be traded from June 29 until July
10 on the Open Market of the Frankfurt Stock Exchange as part of the
subscription offer.
As part of its growth strategy MIFA aims to take a further turn towards the
capital market. 'We have already converted our accounting basis to IFRS,
also, in order to make ourselves more accessible to international
investors. By upgrading to the Prime Standard we are setting ourselves the
highest transparency standards', says Management Board member Peter Wicht
outlining MIFA's capital market strategy. 'With the transaction and the
switch to the Regulated Market, we also aim to gain access to foreign
investors, and put MIFA's growth both in Germany and abroad on a robust
basis.'
'For example, we wish to grow through strategic acquisitions both in
Germany and internationally. Here, I see opportunities that could be
worthwhile for MIFA', notes Wicht. Furthermore, growth opportunities for
MIFA could particularly arise in the business with high quality e-bikes and
in additional business with major customers. Moreover, MIFA intends to more
strongly position the premium GRACE brand as brand for young customers and
intensify the approach in specialist wholesalers and retailers. Also, the
high-margin sector e-commerce is to be expanded. For this, MIFA's online
presence has already seen a fundamental face lifting. 'The website
resembles MIFA's strong positioning within the range of German mid-cap
companies. We use production methods from the automotive industry which
enable consistent high quality even at high quantity production.'
The company is expected to generate total gross proceeds of up to EUR 11.2
million from the capital increase. Part of the proceeds will be deployed to
streamline logistics and to make production processes more efficient: 'We
believe that MIFA already distinguishes itself with a high production
efficiency. We can increase this further if we think about how to become
even better on a daily basis', says Wicht. Additionally, the funds are to
be utilised to optimise working capital: 'The bicycles business is highly
seasonal: we build up large inventories and receivables positions in winter
and spring in order to service our major orders during the bicycle season.
These seasonal working capital fluctuations need to be financed -
particularly in times of strong growth', notes Wicht.
Disclaimer:
The information contained herein serves information purposes and does not
constitute any offer for sale or subscription of or solicitation or
invitation of any offer to buy or subscribe for securities of MIFA
Mitteldeutsche Fahrradwerke AG. The offer is being made solely by means of,
and on the basis of, the published securities prospectus (including any
amendments thereto, if any) submitted to the Federal Financial Supervisory
Authority. An investment decision regarding the publicly offered securities
of MIFA Mitteldeutsche Fahrradwerke AG should only be made on the basis of
the securities prospectus. The securities prospectus is available free of
charge from the banking syndicate, Joh. Berenberg, Gossler&Co. KG, or on
the MIFA Mitteldeutsche Fahrradwerke AG website.
This release does not constitute an offer of securities for sale into the
United States. Securities may not be offered or sold in the United States
absent registration or any exemption from registration under the US
Securities Act of 1933, as amended (the 'Securities Act'). The securities
of MIFA Mitteldeutsche Fahrradwerke AG described herein have not been and
will not be registered under the US Securities Act and are not being and
will not be offered or sold in the United States of America.
This communication is directed only at (I) persons who are outside the
United Kingdom or (II) investment professionals falling within article
19(5) of the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (as amended) (the 'Order') or (III) high net worth companies and
other persons to whom it may lawfully be committed falling within article
49(2)(a) to (d) ('high net worth companies, unincorporated associations
etc.') of the Order (all such persons together being referred to as
'Relevant Persons'). Any person who is not a Relevant Person must not act
or rely on this communication or any of its contents. Any investment or
investment activity to which this communication relates is available only
to Relevant Persons and will be engaged in only with Relevant Persons.
Contact:
Henryk Deter / Mark Appoh
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Telephone: 0611-205855-13
Fax: 0611-205855-66
E-mail: deter(at)cometis.de
End of Corporate News
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29.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MIFA Mitteldeutsche Fahrradwerke AG
Kyselhäuser Straße 23
06526 Sangerhausen
Germany
Phone: 03464-5370
Fax: 03464-537251
E-mail: b.mirau(at)mifa.de
Internet: www.mifa.de
ISIN: DE000A0B95Y8
WKN: A0B95Y
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München (m:access),
Stuttgart
End of News DGAP News-Service
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175868 29.06.2012
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