(Ad-hoc) Dürr announces a 10% capital increase
11/21/2005 - Dürr AG - WKN 556520 / ISIN DE0005565204
Principal shareholder definitively supports realignment
Stuttgart, November 21, 2005 – Dürr AG's Board of Management has decided today to increase the company's capital stock by 10%. To the exclusion of existing subscription rights, 1.43 million new common bearer shares will be issued. Dürr expects proceeds in the amount of EUR 21.8 million.
The capital increase will be conducted in the coming days as a private placement at a subscription price of EUR 15.25. As principal shareholder, the Dürr family supports the path taken by the company. Heinz Dürr GmbH will subscribe about 60% of the new shares. A financial investor is subscribing the remaining shares; the free float will consequently increase from 29.4% to 30.4%.
The FOCUS restructuring program, with a total volume of EUR 40 50 million, will thus be partly financed by the capital increase. The measure will improve Dürr's financial and capital structure even further by year's end, also against the background of the announced sale of the Measuring and Process Technologies business unit. The strategic process of concentration on core business will be successfully completed by year's end.
Dürr AG
The executive board
End of disclosure
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