EQS-News: Lenzing AG: Lenzing Aktiengesellschaft successfully completes capital increase
EQS-News: Lenzing AG / Key word(s): Capital Increase
Lenzing AG: Lenzing Aktiengesellschaft successfully completes capital
increase
06.07.2023 / 07:30 CET/CEST
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THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED
STATES, CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA OR ANY OTHER JURISDICTION
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INFORMATION AT THE END OF THIS NOTIFICATION.
Lenzing: Lenzing Aktiengesellschaft successfully completes capital
increase
• A total of 12,068,180 new shares will be issued with gross proceeds of
approximately EUR 400.2 million
• 12,009,820 new shares (equivalent to a subscription rights exercise
ratio of 99.52%) were subscribed for in the rights offering, while the
remaining 58,360 new shares were placed in the international private
placement
• The placement price in the international private placement is equal to
EUR 46.25 per new share
Lenzing – Lenzing Aktiengesellschaft (“Lenzing” or the “Company”) has
successfully completed its capital increase against contribution in cash
with subscription rights for existing shareholders announced on
June 16, 2023 (the “Offering”). A total of 12,068,180 new no-par value
bearer shares with an entitlement to dividends as of 1 January 2023 (the
“New Shares”) were offered to existing shareholders at a subscription
price of EUR 33.10 per New Share (the “Subscription Price”) by way of a
rights offering (the “Rights Offering”). At the end of the subscription
period, 12,009,820 New Shares were subscribed for in the Rights Offering
through the exercise of subscription rights, including 6,305,315 New
Shares subscribed for by B&C Group. The remaining 58,360 New Shares for
which no subscription rights were exercised during the Rights Offering
have been successfully placed with institutional investors in a private
placement (the “International Private Placement”) at a placement price of
EUR 46.25 per New Share, which is the same as the closing price on the
Vienna Stock Exchange on July 5, 2023.
“We have been able to hold very constructive and promising discussions
with numerous investors during our roadshow in recent weeks. We have
received a wealth of positive feedback from investors, as the market
clearly recognizes the strong position we hold in addressing the
megatrends of sustainability and the circular economy. Furthermore, it was
clearly communicated to us by investors that this capital increase was
interpreted as a measure with foresight to strengthen our equity position.
Based on this backing, we are now ready to work even harder to
successfully implement our strategy,” states Stephan Sielaff, Chief
Executive Officer of Lenzing.
Nico Reiner, CFO of the Lenzing Group, adds: “We consider the result of
the capital increase to be a success and the clear approval of the
shareholders as a mandate for our future actions. Timing has played a
crucial role in this move. Instead of speculating about the future, we
have resolutely seized the opportunity to strengthen the Lenzing Group and
prepare for the many tasks that lie ahead.”
The final gross proceeds amount to approximately EUR 400.2 million and
will be used to strengthen the Company’s balance sheet and liquidity
position and provide additional flexibility with respect to the Company’s
financing strategy, as well as support its strategic roadmap.
Settlement and delivery and trading in the Prime Market segment of the
Vienna Stock Exchange of all new shares under the existing ISIN
AT0000644505 is expected on July 10, 2023, conditional upon the
registration of the capital increase with the companies register.
The Company as well as Lenzing’s majority shareholder, B&C KB Holding GmbH
and B&C Ares Holding GmbH, have agreed to a lock-up period starting on the
date of the placement agreement and expiring six months after the first
day of trading of the New Shares, subject to certain exceptions.
Important Notice
These materials are not for distribution or release, directly or
indirectly, in or into the United States (including its territories and
possessions, any State of the United States and the District of Columbia),
Australia, Canada, Japan or any other jurisdiction in which such
distribution or release would be unlawful. These materials do not
constitute or form a part of any offer or solicitation to purchase or
subscribe for securities in the United States, Australia, Canada or Japan,
or any other jurisdiction in which such offer or solicitation may be
unlawful. The securities mentioned herein have not been, and will not be,
registered under the US Securities Act of 1933, as amended (the
“Securities Act”). The securities may not be offered or sold in the United
States, absent registration or an exemption from the registration
requirements of the Securities Act. There will be no public offer of the
securities in the United States.
This communication is only being distributed to and is only directed at
(i) persons who are outside the United Kingdom or (ii) investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii)
high net worth companies, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all
such persons together being referred to as “relevant persons”). The
securities described herein are only available to, and any invitation,
offer or agreement to subscribe, purchase or otherwise acquire such
securities will be engaged in only with, relevant persons. Any person who
is not a relevant person should not act or rely on this document or any of
its contents.
This publication does not constitute an offer to sell or the solicitation
of an offer to purchase shares of the Company. The shares offered in
connection with the public offering have already been placed.
In any EEA Member State other than Austria, this communication is only
addressed to and is only directed at “qualified investors” in that Member
State within the meaning of Article 2(e) of Regulation (EU) 2017/1129.
Stabilisation / EU Regulation 2014/596 / EU Regulation 2016/1052 /
Austrian law.
This announcement does not constitute an offer to purchase securities or
solicitation of an offer to purchase securities in any jurisdiction.
Photo download:
[1] https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=DaViWM0i8JTd
PIN: DaViWM0i8JTd
Your contact for
Public Relations: Investor Relations:
Dominic Köfner Sébastien Knus
Vice President Corporate Communications & Vice President Capital Markets
Public Affairs Lenzing Aktiengesellschaft
Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing,
Werkstraße 2, 4860 Lenzing, Austria Austria
Phone +43 7672 701 2743 Phone +43 7672 701 3599
E-mail [2]media@lenzing.com E-mail [4]s.knus@lenzing.com
Web [3] www.lenzing.com Web [5] www.lenzing.com
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06.07.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1673687
End of News EQS News Service
1673687 06.07.2023 CET/CEST
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