- Capital increase clearly oversubscribed
- Capital increase in the amount of up to € 26.0 million with high subscription rate and high oversubscription successfully concluded
- Proceeds from capital increase will be invested in further growth
- Sales increase in the amount of 33 % forecast for 2011
- Executive Board and Supervisory Board exercised subscription rights
Kahl am Main, June 20, 2011 - The SINGULUS TECHNOLOGIES AG (SINGULUS) successfully concluded the capital increase by 7,880,203 common bearer shares in total with a nominal value of € 1.00 each and profit entitlement from January 1, 2011 against payment in kind. The Capital increase was clearly oversubscribed.
In the course of the rights offer concluded as scheduled on June 17, 2011, the shareholders of the SINGULUS TECHNOLOGIES AG subscribed all 7,880,203 new shares by means of exercising their subscription rights and of oversubscription. With the exercise of the subscription rights to subscribe 4,462,128 shares with a subscription rate of 56.6 %, 3,418,075 new shares (about 43.4 %) were available for oversubscription. Overall, 28.75 million new shares were requested for oversubscription. Due to this high oversubscription, the actually submitted oversubscription is implemented with a ratio of about 11.89 %.
The Executive Board and Supervisory Board deem this high subscription ratio and the high request for oversubscription of the shareholders as a major proof of trust in the future development of the SINGULUS TECHNOLOGIES AG. The Executive Board and the Supervisory Board have exercised their subscription rights to the full extent and have asked additionally for more shares if available.
With the entry of the implementation of the capital increase into the commercial register, which is expected to take place on June 22, 2011, the total number of outstanding shares of the company rises to 48,930,314 shares. The delivery and payment for the new shares will presumably take place on Friday, June 24, 2011, but after their admission to the stock market at the earliest.
Capital increase: investment for the future of the company
The gross proceeds from the capital increase of up to € 26.0 million are mainly intended for the expansion of the market leadership in the Optical Disc division as well as the further accelerated expansion in the strongly-growing Solar segment. To a lesser extent the proceeds are used to repay debt to reduce costs and to be able to operate more independently.
For the full-year 2011 SINGULUS has issued a sales forecast of more than € 160 million (+ 33 % compared with the previous year: € 120.1 million). Following three years with negative earnings, the company is expected to post a positive result in 2011.
Profile SINGULUS TECHNOLOGIES AG:
SINGULUS plans to further expand its activities in the segments Solar and Optical Disc. The goal is to attain a leading position in the silicon and thin-film solar technology and to maintain the technologic leadership in the Optical Disc segment.