DGAP-News: Scutum Capital AG: - Capital increase with subscription rights to finance the test phase and the commercial development - Construction phase of the first Pyrolyx reactor line will be completed in November - New website www.pyrolyx.com
(firmenpresse) - DGAP-News: Scutum Capital AG / Key word(s): Capital Increase/Market
Report
Scutum Capital AG: - Capital increase with subscription rights to
finance the test phase and the commercial development - Construction
phase of the first Pyrolyx reactor line will be completed in November
- New website www.pyrolyx.com
10.10.2011 / 15:47
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Scutum Capital AG:
- Capital increase with subscription rights to finance the test phase and
the commercial development
- Construction phase of the first Pyrolyx reactor line will be completed in
November
- New website www.pyrolyx.com
Scutum Capital AG, Munich: The company has decided to conduct a capital
increase with subscription rights. 30.000 shares based on a share price of
EUR 45 will be offered, which would equal an additional liquidity in the
amount of EUR 1,35m, if completely subscribed. The subscription offer will
be sent to the shareholders during the month of October. The subscription
ratio is 9:1. The Management Board already received confirmations for
subscription from interested investors who would buy shares that will not
be subscribed by the existing shareholders.
The proceeds from this capital increase will mainly be allocated for the
financing of the test phase of the first industrial Pyrolyx-reactor line
and for the commercial development of the company during the coming year.
The construction phase of the first large scale industrial Pyrolyx-reactor
line will be completed in November and will be followed by a test- and
audit-phase, which will take a couple of weeks. After a successful
completion of these tests and audits, the company plans to provide the
European tire industry with product samples for first production test of
tires. The level of interest in the application of the recycled Carbon
Black from the international industry is still very high. The company has
received several orders for Carbon Black-test material from important tire
manufacturers. These companies have already conducted material tests during
this year and want to test the application in real tires now.
Under the domain www.pyrolyx.com detailed information on the Pyrolyx
environmental technology is now available. Beside the presentation of the
world market for tires, there will also be a section that shows the first
test results from the tire industry. A wide range of information on the
basic idea of the technology and on the spectrum of the Pyrolyx services
and products can also be found on the new website.
Although the company received a positive verdict from the court in July
2011, the collection of the claim against the defaulting investor has not
been fruitful so far. This fact was incorporated in the balance sheet of
the company. The company is currently examining further options in order to
collect this claim.
Scutum Capital AG owns all intellectual property related to the Pyrolyx
environmental technology, especially one patent application and specific
process know-how. This unique, innovative process in the field of
environmental technology is aimed at commercially recycling valuable raw
materials such as Carbon Black, oil and gas from common rubber resins that
are produced from end-of-life-tiresor other rubber based waste.
Munich, October 10, 2011
Niels Raeder&Fikret Dülger
Board Members of Scutum Capital AG
End of Corporate News
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10.10.2011 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,
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Language: English
Company: Scutum Capital AG
Nymphenburger Str. 70
80335 München
Germany
Phone: +49 (0)89 856 335 58
Fax: +49 (0)89 856 335 55
E-mail: info(at)scutum-capital.de
Internet: www.scutum-capital.de
ISIN: DE000A0MFXR8
WKN: A0MFXR
Listed: Open Market in Frankfurt
End of News DGAP News-Service
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141830 10.10.2011
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