05.07.2013
Viscom AG DE0007846867
DGAP-News: Viscom AG creates prerequisites for more flexible and optimized management of equity capital
DGAP-News: Viscom AG / Key word(s): Corporate Action/AGM/EGM
Viscom AG creates prerequisites for more flexible and optimized
management of equity capital
05.07.2013 / 14:23
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- Conversion of appropriated capital reserves to free capital reserves
planned
- Measure allows for dividend payments or share buybacks from 2014
onwards
- Extraordinary General Meeting planned on 20 August 2013
Hanover, 5 July 2013 - The Executive Board and the Supervisory Board of
Viscom AG (ISIN DE0007846867) plan to convert a portion of the currently
appropriated capital reserves to free capital reserves so that they can be
available for potential dividend payments or share buyback programmes from
2014 onwards. An Extraordinary General Meeting of shareholders will be
called for 20 August 2013. With the planned conversion Viscom will create
the prerequisite for a flexible, efficient and capital markets-oriented
management of its equity position. The conversion involves a number of
legally required capital measures which have to be approved by a General
Meeting of the company.
As of 31 December 2012, Viscom AG has appropriated capital reserves of 37.1
million EUR, of which 22.6 million EUR are to be converted to free capital
reserves. To realize this, Viscom has to implement a capital increase from
company funds and a subsequent ordinary capital reduction.
Due to the required statutory waiting periods an Extraordinary General
Meeting is necessary to create the formal conditions to realize the desired
flexibility for the Ordinary General Meeting in May 2014.
Dirk Schwingel, CFO of Viscom: 'Our objective continues to be further
growth and we continue screening for potential acquisition targets.
However, we have demanding criteria to ensure an investment makes sense. In
the event that we do not find appropriate investment opportunities, we now
want to realize the additional flexibility to, going forward, decide on
dividend payments or share buyback programs. With this step we improve our
equity capital management. At the same time, the partial conversion ensures
that even after dividend payments or share buybacks, Viscom will retain
sufficient funds as a contingency and acquisition capital.'
As previously announced, HPC Vermögensverwaltung GmbH has acquired
off-exchange approximately 1.3 million Viscom shares offered by Grünwald
Equity Beteiligungs V2 GmbH on 31 May 2013 in the interest of a stable
share price performance.
Dr. Martin Heuser and Volker Pape, Executive Board Members of Viscom AG:
'We were of the opinion that the divestment of Grünwald Equity's Viscom
shares via the stock exchange would have resulted in a share overhang and
significant pressure on the share price. Therefore, we have decided at
short notice to purchase of the Grünwald Equity shares as major
shareholders to avoid undue negative share price impact. Should the General
Meeting at a later date decide to reduce the existing liquidity with
dividend payments, we would have the option to paritally refinance the
mostly debt financed purchase of the shares.'
The planned measure to partially convert appropriated capital reserves to
free capital reserves as well as the purchase of the shares without undue
negative share price impact are in the particular interest of the company
and its shareholders.
Any forecasts, expectations or forward-looking statements included in this
report may carry risks and uncertainties. We therefore cannot guarantee
that these assumptions will turn out to be correct. Actual results and
developments may vary significantly from the forecasts and assumptions made
in this report. Factors that may lead to such deviations include changes to
the general economic development and competitive position, exchange rate
and interest rate fluctuations as well as amendments to national and
international laws. The Company does not assume any responsibility for
updating the statements contained in this report.
Contact:
Viscom AG
Investor Relations
Sandra M. Liedtke
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-850
Fax: +49-511-94996-555
[email protected]
End of Corporate News
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05.07.2013 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.
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Language: English
Company: Viscom AG
Carl-Buderus-Strasse 9-15
30455 Hannover
Germany
Phone: +49 (0) 511 94 996 850
Fax: +49 (0) 511 94 996 555
E-mail: [email protected]
Internet: www.viscom.de
ISIN: DE0007846867
WKN: 784686
Listed: Regulierter Markt in Frankfurt (General Standard),
Hannover; Freiverkehr in Berlin, Düsseldorf, München,
Stuttgart
End of News DGAP News-Service
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