DGAP-News: Capital increase generates EUR 8.3 million for KTG Agrar's expansion
(firmenpresse) - KTG Agrar AG / Capital Increase
24.03.2010 08:55
Dissemination of a Corporate News, transmitted by
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- 516,000 shares succesfully placed within a few hours
- Growth opportunities can be used even more decisively
Hamburg, 24 March 2010 - KTG Agrar AG (ISIN DE000A0DN1J4) today
successfully completed an accelerated bookbuilding process for a ten
percent increase of its share capital. The gross proceeds of this
transaction will amount to EUR 8,256,000. 'We are very satisfied with the
strong interest in our company,' said Siegfried Hofreiter, KTG Agrar's CEO.
'Now we can act on growth opportunities even more decisively.'
The Hamburg-based company intends to invest the proceeds in continued
dynamic growth. Apart from increasing its total farmland, the company plans
to expand its biogas production capacity by a significant margin. The
recent amendment of the German Renewable Energies Act offers a high degree
of planning certainty in this respect; offtake of the energy generated is
ensured on a fixed-price basis for the next twenty years. Due to the
synergies between farming operations and biogas production, KTG achieves an
EBIT margin in excess of 20 percent in this segment.
According to the decision taken by the Managing Board and endorsed by the
Supervisory Board, the share capital was increased by EUR 516,000 from EUR
5,160,000 to EUR 5,676,000 by issuing new shares against cash. The 516,000
new bearer shares have been placed with German and international
institutional investors by DZ BANK AG. The placement price was at EUR 16
per share. The capital increase will raise the company's free float to
approx. 54 percent.
Says Siegfried Hofreiter: 'With our business model we profit from the mega
trends popoluation growth, rising energy demand and CO2 decrease.' Thereof,
KTG Agrar is optimistic to sustain the profitabel growth of the past years
in the future.
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
24.03.2010 08:55 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: 24.03.2010 - 08:55 Uhr
Sprache: Deutsch
News-ID 17946
Anzahl Zeichen: 0
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Kategorie:
Business News
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