Tous Actualités
Suivre
Abonner Conergy AG

Conergy AG

euro adhoc: Conergy AG
Restructuring & Recapitalisations
Conergy announces equity issue to strength its balance sheet
Dieter Ammer confirmed as CEO for the next two years

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
17.07.2008
Conergy announces equity issue to strength its balance sheet / Dieter
Ammer confirmed as CEO for the next two years
Hamburg, July 17, 2008 - The Hamburg based solar enterprise Conergy 
AG invites shareholders to its annual general meeting, to be held in 
Hamburg on August 28, 2008. The board will seek shareholder approval 
for a capital increase with subscription rights for existing 
shareholders with expected gross proceeds of approximately EUR450 
million. The subscription ratio and price will be determined shortly 
prior to the start of the transaction on the basis of prevailing 
market conditions. Credit Suisse and Dresdner Kleinwort have been 
mandated to assist the company in preparing the envisaged capital 
increase which is currently intended to be structured as a fully 
underwritten discounted rights offering. Conergy will announce 
further details of the proposed capital increase in the context of 
the invitation to the annual general meeting to be published in the 
elektronischer Bundesanzeiger.
Part of the total volume in the amount of approximately EUR450 
million have already been subscribed by two family offices: Leemaster
Ltd., held by Dr. Otto Happel, a current major shareholder of Conergy
AG, and Athos Service GmbH, held by the Strüngmann family, have 
committed to invest a volume of EUR125 million in the capital 
increase for the subscription of new shares. Conergy's other major 
shareholders, Hans-Martin Rüter, Grazia Equity GmbH, 5r Private 
Equity KG and CEO Dieter Ammer, have all indicated their willingness 
to support the capital increase, and to partially exercise their 
subscription rights.
Conergy will use the proceeds of the capital increase to pay back the
bridge financing of EUR240 million and to finance the planned 
instalments for the repayment of the syndicated loan as well as to 
finance the ongoing restructuring programme and the planned growth of
the business in 2009 and 2010.
In addition, the Supervisory Board has appointed Dieter Ammer, the 
co-founder of Conergy and current interim CEO, as CEO of the company 
for the next two years, effective August 1, 2008. Accordingly, Dieter
Ammer has today resigned from his post at the supervisory board, 
which had been inactive since his appointment as interim CEO, 
effective July 31 2008. The Supervisory Board will propose Mr. John 
Jetter, financial expert and German former chief executive officer of
Investmentbank JPMorgan AG, as his successor to the annual general 
meeting.
___________________________
This communication is neither a prospectus nor does it constitute an 
offer to sell or the solicitation of an offer to purchase the shares 
or other securities of Conergy AG and it does not substitute the 
prospectus. Subject to the approval by the German Financial 
Supervisory Authority a securities prospectus will be published prior
to the offer period and made available free of charge by Conergy AG 
and the coordinators. The shares will be offered exclusively on the 
basis of the prospectus required to be approved by the German 
Financial Supervisory Authority.
This communication is not an offer of securities for sale in the 
United States of America. Securities may not be offered or sold in 
the United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the 
"Securities Act").  Any public offering of securities to be made in 
the United States of America will be made by means of a prospectus 
that may be obtained from Conergy AG and that will contain detailed 
information about the company and management, as well as financial 
statements. Conergy AG does not intend to register any part of the 
offering in the United States.
The information contained in this communication is not for 
publication or distribution in or into the United States of America, 
Canada, Australia or Japan and does not constitute an offer of 
securities for sale in the United States of America, Canada, 
Australia or Japan.
end of announcement                               euro adhoc

Further inquiry note:

Christoph Marx
Tel.: +49 (0)40 27142-1634
Email: investor@conergy.de

Branche: Energy
ISIN: DE0006040025
WKN: 604002
Index: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share,
Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade

Plus de actualités: Conergy AG
Plus de actualités: Conergy AG