04.10.2016
paragon AG DE0005558696
DGAP-News: paragon AG Increases Share Capital to Accelerate Company Growth
DGAP-News: paragon AG / Key word(s): Capital Increase
paragon AG Increases Share Capital to Accelerate Company Growth
04.10.2016 / 17:40
The issuer is solely responsible for the content of this announcement.
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paragon AG Increases Share Capital to Accelerate Company Growth
- Capital increase approved from authorized capital
- Share capital to be increased by up to 10%
- Private placement by means of accelerated book-building process
- Founder Klaus Dieter Frers to retain majority interest
Delbrück, Germany, October 4, 2016 - With the approval of the Supervisory
Board, the Management Board of paragon AG (ISIN DE0005558696) has today
resolved to increase the company's share capital by up to 10 percent in
exchange for a cash contribution in order to further accelerate company
growth, particularly in the Electromobility division.
The company's share capital is to be increased by up to EUR 411,478.00 with
the partial use of the existing authorized capital. As part of a private
placement by means of an accelerated book-building process, the plan is to
offer the new shares, which will carry dividend rights as of January 1,
2016, to qualified and other investors in accordance with the applicable
exemption provisions governing domestic and foreign private placements.
Majority shareholder and company founder Klaus Dieter Frers, who sits on
the Management Board, has committed himself to the company by signing a
subscription declaration agreement with the company to subscribe for the
new shares as part of the accelerated book-building process, thus
safeguarding his majority interest in the future. Upon completion of the
accelerated book-building process, the company's Management Board will
announce the placement price of the new shares. It will not be
significantly below the current share price of the paragon AG share. The
transaction will be supported by Hauck & Aufhäuser as sole global
coordinator and sole bookrunner.
The automotive sector is undergoing a dynamic change, with developments
largely driven by the technological trends of electrification and
connectivity. At the same time, consumers all over the world are changing
their mobility requirements in line with their increasingly mobile
lifestyles and heightened awareness of environmental and health issues.
"We are currently experiencing a particularly exciting phase in our almost
30-year history - one in which we can make great use of our unique
competitive advantages," explains Klaus Dieter Frers, founder and CEO of
paragon AG. "The great interest shown by automotive manufacturers in our
technological innovations provides us with a solid foundation in terms of
sustainably occupying the new market niches that will shape future
generations."
As a long-standing partner of premium German auto manufacturers, paragon AG
has used its business model - which is based on the independent development
and production of innovative products and solutions that enhance individual
driver experience - to successfully position itself to benefit considerably
from the dynamism on the global market. With its particle sensor, its in-
car communication technology, and its MirrorPilot(R), for example, the
company is an innovation leader in its established divisions. At the same
time, the younger Body Kinematics division is currently developing complete
aerodynamics concepts that will improve the energy consumption - and
consequently the range - of future generations of passenger vehicles.
The most recently established division, Electromobility, was spun off into
the two wholly owned Voltabox subsidiaries in Germany and the US back in
2014, thus laying the groundwork to occupy this particularly dynamic market
segment in a speedy and focused manner. Since 2015, the successful start-up
has been developing and producing high-performance lithium-ion battery
systems in Germany and the US for use in large commercial vehicles, which
make exceptionally high demands in terms of safety and intelligent battery
management systems optimized for the application concerned.
In the field of public transportation, Voltabox - via its partner company
Vossloh Kiepe - already supplies public sector organizations in Germany,
Italy, Austria, Switzerland, and the US with special battery systems for
trolleybuses. In the field of intralogistics, customized Voltabox battery
solutions for forklift trucks are already being distributed by Triathlon. A
very wide-ranging strategic partnership with Joy Global concerning the
deployment of intelligent battery systems in commercial vehicles used in
the global mining sector was announced most recently, with the partnership
encompassing all platforms. As a result, the Electromobility division now
accounts for almost half of the lifetime order backlog at paragon AG.
The resolved capital increase is intended to safeguard dynamic company
growth in existing and new market segments and to ensure a balance sheet
structure that is appropriate to this level of growth.
Disclaimer:
THIS PUBLICATION IS FOR INFORMATIONAL PURPOSES ONLY AND CONSTITUTES NEITHER
AN OFFER TO SELL NOR AN INVITATION TO TREAT NOR AN INVITATION TO SUBSCRIBE
TO SHARES OR OTHER SECURITIES OF PARAGON AG. A PUBLIC OFFERING OF
SECURITIES IS NOT TAKING PLACE AND IS NOT INTENDED.
THIS PUBLICATION AND THE INFORMATION CONTAINED HEREIN ARE NOT INTENDED FOR
DIRECT OR INDIRECT DISCLOSURE OR PUBLICATION IN THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA, OR JAPAN. THE PARAGON AG SECURITIES DESCRIBED
HEREIN ARE NOT AND WILL NOT BE REGISTERED PURSUANT TO THE APPLICABLE
VERSION OF THE U.S. SECURITIES ACT OF 1933 ("SECURITIES ACT") OR THE LAWS
OF A U.S. STATE AND MAY ONLY BE SOLD OR OFFERED FOR SALE IN THE UNITED
STATES OF AMERICA ON THE BASIS OF AN EXEMPTION FROM THE REGISTRATION
REQUIREMENT SET OUT IN THE SECURITIES ACT OR THE LAWS OF A U.S. STATE OR IN
THE EVENT OF SUCH REGULATIONS BEING NON-APPLICABLE. THERE WILL BE NO PUBLIC
OFFERING OF SECURITIES IN THE UNITED STATES OF AMERICA.
Further information is available at www.paragon.ag/en/investors. Follow us
on Twitter @paragon_ir
Company Profile
Listed in the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt am Main, paragon AG (ISIN DE0005558696) develops, produces, and
sells innovative automotive electronics solutions. The portfolio of this
direct supplier to the automotive industry includes products in the
business segments of Sensors, Acoustics, Cockpit, E-mobility and Body
Kinematics. In addition to its headquarters in Delbrück (North Rhine-
Westphalia), paragon AG and its subsidiaries have locations in Suhl
(Thuringia), Nuremberg (Bavaria), St. Georgen (Baden-Württemberg), and
Bexbach (Saarland), as well as in Kunshan (China) and Austin (Texas, USA).
Financial Press Contact & Investor Relations
paragon AG
Dr. Kai Holtmann
Artegastraße 1
D-33129 Delbrück
Phone: +49 (0) 52 50 - 97 62-140
Fax: +49 (0) 52 50 - 97 62-63
E-Mail: [email protected]
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04.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: paragon AG
Schwalbenweg 29
33129 Delbrück
Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: [email protected]
Internet: www.paragon.ag
ISIN: DE0005558696, DE000A1TND93
WKN: 555869, A1TND9
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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508699 04.10.2016
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