DGAP-News: Bonus shares of Weng Fine Art AG will be issued on 1 November
(firmenpresse) - DGAP-News: Weng Fine Art AG / Key word(s): Miscellaneous
Bonus shares of Weng Fine Art AG will be issued on 1 November
19.10.2012 / 09:30
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PRESS RELEASE | 19 October 2012
Bonus shares of Weng Fine Art AG will be issued on 1 November
Following the approval of the resolution at the shareholders' meeting (AGM)
on 24 September, Weng Fine Art (WFA) will give bonus shares to its
shareholders. The distribution will be made on 1 November after the close
of the stock exchange in the ratio of 4 : 1. For each WFA share held on
this day, investors will receive an additional four shares, which will be
automatically posted and tradable from 2 November. This share split does
not however have an impact on the market capitalisation of the company.
The basis for issuing bonus shares is the capital increase out of retained
earnings, adopted at the AGM and listed in the Commercial Register on 10
October, through which the share capital of the art dealer will be
increased from EUR 550,000 to EUR 2,750,000 million. The number of issued
shares will also increase to 2.75 million.
'The optical price reduction of the WFA shares connected with the bonus
shares will give the stock more liquidity and will also lead to higher
stock market turnover,' CEO Rüdiger K. Weng explains and referring to the
free float, that will expand to more than 700,000 shares. Together with the
dividend doubled to EUR 0.30, this large capital increase out of retained
earnings also reflects the sustainable income and equity strength of the
company, which already issued bonus shares as recently as last year.
ABOUT WENG FINE ART AG
Weng Fine Art AG (www.wengfineart.com) is currently the fastest-growing,
internationally active art traders on the European continent. The company
uses a B2B model, focusing on trading more than 500 blue chip artists from
the 20th century. Important clients are, beside others, Sotheby's,
Christie's and Phillips. The retail market is served by its 100% subsidiary
Weng Fine Art Editions GmbH that offers on various worldwide platforms,
multiple works of art by some of the most important contemporary artists.
Weng Fine Art AG shares have been traded on the Frankfurt Stock Exchange
(Entry Standard) since 2 January 2012.
CONTACT DETAILS
Weng Fine Art AG
Rüdiger K. Weng, Vorstand
Kimplerstrasse 294 | D-47807 Krefeld
Telefon +49(0)2151 93713-0 | Telefax+49(0)2151 93713-29
E-Mail weng(at)wengfineart.com | Internet www.wengfineart.com
End of Corporate News
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19.10.2012 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: Weng Fine Art AG
Kimplerstraße 294
47807 Krefeld
Germany
Phone: 02151 937130
Fax: 02151 93713-29
E-mail: art(at)wengfineart.com
Internet: www.wengfineart.com
ISIN: DE0005181606
WKN: 518160
Listed: Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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