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TA Triumph-Adler AG

euro adhoc: TA Triumph-Adler AG
Capital measures
TA Triumph-Adler AG resolves capital increase as a key element of refinancing

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
02.07.2007
Nuremberg, July 2, 2007: As part of its strategic measures for 
refinancing, TA Triumph-Adler AG is to carry out a capital increase 
from approved capital against cash contribution. With the approval by
the Supervisory Board, the requisite resolution was passed today, on 
July 2, 2007, by the Management Board. Up to 14,897,882 bearer shares
are to be issued at a subscription price of EUR 1.88. The 
shareholders have a legal subscription right in the amount of their 
existing stake in the company. Moreover, the shareholders are to be 
granted an oversubscription in the same amount as the legal 
subscription right. Shares not subscribed by the shareholders as part
of the legal subscription right and the oversubscription will be 
offered to institutional investors. There will be no trading in 
subscription rights.
The period for subscription will be two weeks, starting on July 6, 
2007, at the latest. The company will also endeavor to have the 
shares swiftly admitted to the stock exchange.
Through a resolution passed by the Annual General Meeting of May 23, 
2007, the share capital of EUR 103,637,440.00 was reduced by EUR 
44,936,546.25 to EUR 58,700,893.75 by way of a simple reduction of 
capital for the purpose of covering losses, with the number of shares
remaining unchanged at 40,483,375. The capital reduction has the 
effect of lowering the amount of the share capital attributable to 
the individual shares by EUR 1.11, from EUR 2.56 to EUR 1.45. The 
capital reduction was entered into the Commercial Register on June 
19, 2007.
Legal action against the capital reduction was brought by one 
shareholder at the local court of Nuremberg; in the view of the 
company and its lawyers, this law suit has little chance of success. 
In the event that legal action should be successful, the registering 
of the capital increase might be delayed or the process of the 
capital increase might have to be reversed.
All in all, TA Triumph Adler AG is seeking full replacement of the 
existing debt financing. Alongside the capital increase now resolved,
a mix of debt financing instruments is to be deployed. The intention 
is to have fully implemented the measures in the course of the next 
six to eight weeks.
Among other things, based on the current status of debt, this 
refinancing will reduce the interest expense accruing from the 
existing financing structure by almost EUR 5 million a year and, in 
addition, is the starting point for the envisaged growth of the 
company through acquisitions. At the same time, having strengthened 
its equity base, the company will counter the depreciation of 
deferred taxes in the consolidated balance sheet which will come 
about owing to the planned corporate tax reform.
In the first quarter of the financial year 2007, the specialist 
company for efficiency in the document business raised its sales by 
around 20 % to EUR 105.2 million, thus generating a quarterly profit 
of EUR 1.9 million. TA Triumph-Adler is planning to generate sales of
more than EUR 500 million and an operating EBIT margin of 9 % by 2010
at the latest.
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 
ir@ta.ag
www.triumph-adler.com
end of announcement                               euro adhoc 02.07.2007 16:20:11

Further inquiry note:

Uschie Wühr
Investor Relations
Telefon: +49(0)89 51084-914
E-Mail: uschie.wuehr@triumph-adler.de

Branche: Semiconductors & active components
ISIN: DE0007495004
WKN: 749500
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

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