Bielefeld. GILDEMEISTER Aktiengesellschaft has successfully completed its rights offering based upon a subscription ratio of 2:1. During the subscription period from June 2, 2004 until June 15, 2004 more than 99% of the subscription rights for the new shares were exercised by existing and new GILDEMEISTER shareholders. The 14.423.076 new shares from the capital increase will start trading on June 16, 2004.
Through the capital increase the company receives gross proceeds of Euro 59,9 million. The proceeds of the offering will be used to improve the equity capital, to reduce short-term and medium-term liabilities, to secure strategic options and the expansion in Asia. HVB Corporates & Markets and WestLB managed the capital increase.
GILDEMEISTER is currently considering to issue a corporate bond to further optimise the structure of its liabilities. HVB Corporates & Markets and WestLB are also expected to act as bookrunners of the bond issue.
The Executive Board