Ekotechnika AG achieves full placement of acquisition offer

Ekotechnika AG achieves full placement of acquisition offer

15 December 2015 Corporate News

  • New Series A shares oversubscribed two and a half times
  • New Series A shares to be delivered on 16 December 2015
  • Admission for trading on 17 December 2015
  • Cash Compensation of EUR 89.77 per acquisition right
  • Financial restructuring completed successfully

Walldorf, 15 December 2015 – Ekotechnika AG, the German holding company of the EkoNiva-Technika Group, the largest dealer of international agricultural machinery in Russia, successfully completed the placement of its new Series A shares. The offer of 1,539,000 Series A bearer shares (ISIN DE000A161234) issued in the context of the capital increase against contribution in kind by way of a debt-to-equity swap was oversubscribed two and a half times. Total demand for the Ekotechnika shares amounted to 3,770,050 shares.

During the acquisition period from 23 November through 9 December 2015, the previous bondholders exercised 80 % of the acquisition rights for the Series A shares (1,229,481 shares). Due to the high demand, the remaining 309,518 shares can be allocated from the oversubscription (over 1.9 million shares) at a price of EUR 3.50. The allocation quota is 18 %.

The new Series A shares from the acquisition rights are scheduled for delivery on Wednesday, 16 December 2015 (“delivery day” as defined in the acquisition offer). The shares from the oversubscription will probably be delivered to the depositary accounts as of the value date 18 December 2015.

The Ekotechnika shares (WKN A16123) are admitted for trading in the primary market of the Düsseldorf Stock Exchange on 17 December 2015.

As the shares are fully placed, there will be no subsequent sales period. The cash compensation of EUR 89.77 per unexercised acquisition right (equivalent to EUR 3.50 per share) is expected to be paid on 30 December 2015 (“payment day” as defined in the acquisition offer). Hence, the financial restructuring of Ekotechnika AG as resolved by the second bondholders’ meeting on 6 May 2015 has been completed successfully.

Information on the share will be provided on the Ekotechnika website at www.ekotechnika.de/en/investor-relations/share/.