06.03.2007 – 14:19
euro adhoc: TA Triumph-Adler AG
TA Triumph-Adler plans for
refinancing and higher growth rate; cooperation with Kyocera Mita extended
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Nuremberg, March 6, 2007: For the 2007 financial year, TA Triumph Adler is planning to completely redeem its existing financing arrangements through the introduction of a portfolio of borrowing instruments, as well as through a capital increase of approximately EUR 20 million. This will create the basis for a higher level of growth.
This project aims particularly at securing a significant reduction in interest costs and a major increase in strategic flexibility with respect to additional acquisitions in the core business. The targeted refinancing is also intended to augment the Company's equity base in order to counterbalance the risk of a devaluation of deferred tax assets arising from the planned reform of corporate taxation.
The Supervisory Board has today agreed to this undertaking after Kyocera Mita Corporation, Osaka, Japan declared its preparedness to participate in the capital increase.
Due to the current nominal value per share, which is EUR 2.56, we intend to perform a reduction of capital to just under EUR 60 million before we carry out the capital increase. This will entail the partial release of the capital reserve to offset accumulated losses. These accumulated losses amount to just under EUR 80 million as of December 31, 2006. This measure will be subject to the approval of the Shareholders' General Meeting on May 23, 2007. Along with the capital increase, this measure will also enable us to recommence the future payment of dividends by TA Triumph Adler AG. Current plans do not envisage trading in the subscription rights; it is intended that the issue price will be in line with the market price.
TA Triumph Adler AG anticipates that these measures will result in enhanced corporate earnings in coming years.
In connection with these plans, TA Triumph Adler AG and Kyocera Mita Corporation, Osaka, Japan, have announced the extension of their cooperation in the sale of photocopying machines, printers, and multifunction systems up to June 30, 2010. Both sides emphasized the proven and successful cooperation that will be continued as to date.
The non-exclusive Commercial Alliance Agreement is the foundation of the mutual business relations. In this context, TA Triumph-Adler sources around 80% of the machines it sells from the leading Japanese manufacturer, including the consumables and spare parts. Under the two Group brand names UTAX and TA Triumph-Adler, the product range is marketed in Germany and on a number of international markets. These sales and distribution activities under the company's own brand names represent a key foundation of the business model of the specialists for efficiency in document business.
Contact: TA Triumph-Adler AG: Suedwestpark 23, D-90449 Nuremberg Dr. Joachim Fleing, Phone: +49/911/68 98-499, Fax: +49/911/68 98-200 firstname.lastname@example.org, www.triumph-adler.com
end of announcement euro adhoc 06.03.2007 13:42:34
Further inquiry note:
Telefon: +49(0)89 51084-914
Branche: Semiconductors & active components
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade