DGAP-News: ADC African Development Corporation GmbH&Co. KGaA: Rights offering for ADC bond with warrants attached 2012/2015 to commence today ++ Financing of further growth with the aim of becoming one of the leading pan-African banking groups
(firmenpresse) - DGAP-News: ADC African Development Corporation GmbH&Co. KGaA / Key
word(s): Miscellaneous
ADC African Development Corporation GmbH&Co. KGaA: Rights offering
for ADC bond with warrants attached 2012/2015 to commence today ++
Financing of further growth with the aim of becoming one of the
leading pan-African banking groups
14.05.2012 / 16:38
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To finance further acquisitions, ADC African Development Corporation GmbH&Co. KGaA ('ADC'), ISIN DE000A1E8NW9, a fast growing pan-African banking
group focused on the frontier markets of sub-Saharan Africa announced the
issuance of a bond in the volume of up to EUR 40m on 17 April 2012.
The rights offering for the statutory subscription rights of up to 400.000
bonds with warrants attached was published together with further details in
the electronic German Federal Gazette ('Bundesanzeiger') on 11 May 2012.
Shareholders will be granted an indirect subscription right in the ratio of
one (1) bond with warrants attached for every twenty one (21) shares at a
subscription price of EUR 100.00 each. In addition, there is a possibility
to subscribe to additional shares.
The subscription period commences today, Monday 14 May 2012 and will
terminate on 29 May 2012 at 6pm CET. To enable the ADC management to
already give firm commitments, ADC's key shareholders have guaranteed the
issuance.
In the event of not all bonds with warrants attached being subscribed to
within the context of the rights issue, any remaining bonds with warrants
attached are to be offered by way of private placement to interested
investors (in this instance, however, at least 5,000 option bonds, i.e.
nominal EUR 500,000.00 bonds must be acquired).
The bond with warrants attached - whereby solely the bond and option terms
and conditions are legally binding - is basically structured as follows:
1) Division into bonds of nominal value of EUR 100.00
2) Interest rate of 6% per annum, interest to be paid annually
3) Expiry on 31.05.2015
4) Re-payment of 100% of nominal value
5) With every partial bond with warrants attached, there are five (5)
separate warrants attached; in accordance with the terms and conditions of
the bond and the warrants, each warrant entitles the bearer to purchase one
no-par value share of ADC African Development Corporation GmbH&Co. KGaA
at a price of EUR 14.00 up to the maturity date (31.05.2015).
6) The bond with warrants attached will be secured with the shares of ABC
Holdings Ltd., ('BancABC') a banking group situated in Botswana, which are
currently held by the company or will be acquired via the funding of the
bond with warrants attached.
7) The bond with warrants attached will be listed on a stock exchange.
Our shareholders can log on to our website
http://www.african-development.com/en/investor-relations/investor-informat
ion/bond-with-warrant/disclaimer/?language=en
and download the complete documentation on the bonds with warrants attached
2012 including the terms and conditions thereof.
Dirk Harbecke, CEO of ADC, comments: 'With the issuance of the warrant
bond, ADC will be placed in a position to once again significantly
accelerate the already strong growth as a pan-African banking group.
Likewise, the bond with warrants attached is a very attractive investment
opportunity for investors who aim to participate in the African continent
with a view to optimizing risk. The bond portion of the bond with warrants
attached is not only very well secured by the strong ADC balance sheet in
general but also, in particular, by BancABC shares which are pledged as
security. At the same time, investors are fully participating in the rapid
market growth in sub-Saharan Africa.'
About ADC
ADC African Development Corporation, ISIN DE000A1E8NW9 (ticker symbol:
AZC.GR), a member of the Angermayer, Brumm&Lange Group
(www.abl-group.de), was established in September 2007 and aims to become
one of the leading banking groups in sub-Saharan Africa, active in
corporate and retail banking as well as insurance business and proprietary
investments. ADC also provides high level advisory services to
international clients who wish to pursue investment and business
opportunities in the highly attractive African growth markets. The
company's success is primarily due to its local management team, which
follows international best practice principles to further develop its
operational companies and implements conventional international processes
to increase their profitability. As the second international emerging
market investor in the world, ADC was integrated into the insurance
solution offered by the Multilateral Investment Guarantee Agency ('MIGA'),
a member of the World Bank Group, primarily due to its strong operational
approach and adherence to the highest ethical standards. This insurance
offers protection against a variety of political risks, in particular the
risk of radical political change.
Contact:
Investor Relations
investor-relations(at)african-development.com
T +49 69 719 12 80 119
End of Corporate News
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14.05.2012 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: ADC African Development Corporation GmbH&Co. KGaA
Grüneburgweg 18
60322 Frankfurt/Main
Germany
Phone: +49 69 719 12 80 00
Fax: +49 69 719 12 80 011
E-mail: info(at)african-development.com
Internet: www.african-development.com
ISIN: DE000A1E8NW9
WKN: A1E8NW
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf
End of News DGAP News-Service
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169783 14.05.2012
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Datum: 14.05.2012 - 16:38 Uhr
Sprache: Deutsch
News-ID 146094
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