09.04.2014
CEWE Stiftung & Co. KGaA DE0005403901
DGAP-News: CEWE increases freefloat by placing shares
DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Corporate Action
CEWE increases freefloat by placing shares
09.04.2014 / 08:05
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CEWE increases freefloat by placing shares
- Proceeds of issue at approximately EUR 27 million
- Shares placed in only one hour
- Increasing freefloat complies with requirements of large institutional
investors
- Increased financial capacity enlarges strategic freedom
- Reduction of debts - increase of equity
Oldenburg, April 9, 2014 - Within one hour, CEWE Stiftung & Co. KGaA (SDAX,
ISIN: DE 0005403901) has placed yesterday 500,000 of its own shares (6.76%
of the share capital). The sale has been fully and successfully
completed. By way of an accelerated bookbuilding, the shares were offered
to qualified investors in Germany and Europe and placed at a price of EUR
54. CEWE's gross proceeds amount to approximately EUR 27 million. The
exchange of the shares against payment of the placement price is envisaged
for April 11, 2014.
Freefloat increases to 69.2%
"During the previous months, we were approached by institutional investors
informing us that an increased freefloat was an important precondition for
an investment. The trade volume has already grown by nearly 20% over the
course of 2013; this is, however, apparently not enough for numerous
investors. Due to this, we have decided to put our own shares on the market
in order to increase the freefloat", says Dr. Olaf Holzkämper, CFO CEWE
Group. He continues that this measure was reasonable for all shareholders
as only a part of the shareholdings was used as acquisition currency and,
by selling the shares, CEWE was not only able to increase the freefloat but
also to raise the equity ratio as well as reduce debts at the same time.
Following this placement, CEWE Stiftung & Co. KGaA now has a shareholding
of 205,667 in its own shares (2.8% of the equity capital). The freefloat
has now increased to 69.2%.
More strategic freedom
By selling the shares, the liquidity potential, i.e. available credit
facilities plus cash funds, augmented. Holzkämper welcomes the strategic
possibilities that have now increased: "By acquiring Saxoprint and thus
extending its business activities to online printing, CEWE has shown that
it is also capable of successfully pursuing inorganic development. In
addition to making our shares more attractive to large institutional
investors, the recent capital market measure has also provided an excellent
starting point to further explore this route." Moreover, CEWE could further
develop in the online printing as well as the photo finishing business
segments, including related segments.
This press release does not constitute an offer for the sale or purchase of
securities in the US. An offer or sale of CEWE Stiftung & Co. KGaA's shares
in the US must be registered in advance pursuant to the provisions set
forth by the U.S. Securities Act 1933 as amended from time to time, unless
exempted from the registration requirement. The shares are not publicly
offered in the US.
Should you have any queries, please contact:
CEWE Stiftung & Co. KGaA, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, e-mail: [email protected]
Internet: www.cewe.de , www.cewe-fotobuch.de , www.cewe-print.de ,
www.viaprinto.de , www.saxoprint.de
Available in app stores: The CEWE Investor Relations app for your iPad(R)
or Android tablet, including annual reports and quarterly reports as well
as sustainability reports.
Financial schedule:
13 May 2014 Publication of the Q1 2014 interim report
13 May 2014 Analysts' telephone conference on Q1
4 June 2014 Annual General Meeting, Weser-Ems-Halle,Oldenburg
13 August 2014 Publication of the H1 2014 half-year financial report
13 August 2014 Analysts' telephone conference on H1
19 September 2014 Capital Market Day @ photokina, Cologne
12 November 2014 Publication of the Q3 2014 interim report
12 November 2014 Analysts' telephone conference on Q3
24 November 2014 German Equity Forum, Frankfurt
About CEWE: The photo and online print service company CEWE, with 11
highly-technical production operations and a staff of around 3,200
employees in 24 European countries, is both market and technological
leader. In 2013 CEWE delivered around 2.37 billion prints, 5.8 million CEWE
PHOTO BOOK and photo gift articles to more than 34,000 retail partners to
generate consolidated turnover of 528.6 million euros. CEWE is a "first
mover" in the introduction of new digital technologies and products. In the
new business segment of online printing, printed material for advertising
is marketed through the sales platforms CEWE-PRINT.de , saxoprint and
viaprinto. In 1961 CEWE was founded by Senator h.c. Heinz Neumüller. The
company went public under the leadership of Hubert Rothärmel in 1993. CEWE
Stiftung & Co. KGaA is listed on the SDAX.
End of Corporate News
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09.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: CEWE Stiftung & Co. KGaA
Meerweg 30-32
26133 Oldenburg
Germany
Phone: +49 (0)441 40 4-1
Fax: +49 (0)441 40 4-42 1
E-mail: [email protected]
Internet: www.cewe.de
ISIN: DE0005403901
WKN: 540390
Indices: SDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
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