DGAP-News: Capital Increase to fund expansion and the further internationalization of the company
(firmenpresse) - DGAP-News: AUTEV AG / Key word(s): Capital Increase/Miscellaneous
Capital Increase to fund expansion and the further
internationalization of the company
19.01.2012 / 16:49
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AUTEV AG: Capital Increase to fund expansion and the further
internationalization of the company
Brandenburg an der Havel, January 19, 2012 - The AUTEV AG announces that
the company has initiated a capital increase via a rights offering of
authorized capital. This will entitle the holders of four old shares to
purchase one new share (subscription ratio 4:1). As a result, with the
current level of 854,768 outstanding old shares, up to 213,692 new shares
of the company can be subscribed for. The subscription price will be EUR
4.25, resulting in a potential subscription amount of approximately EUR
0.91 million.
The continued internationalization of the company is increasing becoming an
integral part of business plan for the AUTEV AG. For this reason, a
majority of the capital raised via this rights offering will be used for
the planning and development of a factory to be used for a project in the
Czech Republic that was contracted last month for a total volume of EUR 8.4
million. The AUTEV AG will construct a highly modern factory there with
research, development, and production facilities for LED lighting
technology. The joint venture with Industrial Light&Control a.s. should
prove to be an enormous help in aiding the AUTEV AG in their expansion into
the growing eastern European marketplace. A new line of products, are to be
exclusively developed for the east European markets custom tailored to the
differing requirements of these countries.
'The sale of our factories to the Czech Republic has once again confirmed
that we are on the right path. The name AUTEV, as well as the AuLED
lighting products have in the meantime become internationally recognized
and accepted for their inherent high quality standards. We are also able to
provide the Czech Republic with a notable increase in energy efficiency
through our products; of which we, as a mid-sized company, are extremely
proud of. This makes us very confident that we will continue to meet our
own high expectations and targets in the years to come', said Tim David,
Chairman of the AUTEV AG.
About AUTEV AG
Over the years, the AUTEV AG has developed into an efficient and
internationally operating engineering and service company. Additionally,
the company is striving to achieve technology and market leadership in new
fields of business. As a result the company successfully entered the market
for energy efficient and CO2 reducing lighting technology. Following two
years of research, the AUTEV AG successfully introduced AuLED into the
market. AuLED is an innovative and energy saving lamp for streets and
industrial buildings, based on ultra-modern LED technology, which is
already currently being widely used.
Additional information about AUTEV AG can be found at www.autev.de
Company Contact:
AUTEV AG
Carl-Reichstein-Strasse 6
D-14770 Brandenburg/Havel
Germany
www.autev.de
Tel.: +49 (0)3381 80 43 630
Fax: +49 (0)3381 80 43 635
info(at)autev.de
Investor Relations Contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
D-60329 Frankfurt/Main
Tel.: +49 (0)69 - 74 30 37 00
Fax: +49 (0)69 - 74 30 37 22
ir-autev(at)gfei.de
www.gfei.de
End of Corporate News
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19.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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