LANXESS decides to increase its share capital by 10 percent
The Board of Management of LANXESS AG has decided today, with approval from the Supervisory Board, to utilize the existing authorized capital in part and to increase the share capital of the company by 10 percent, excluding the subscription rights of the shareholders. The increase of the share capital by a nominal amount of EUR 8,320,266.00 is against the issuance of 8,320,266 new, no par-value bearer shares in the company, which carry full dividend rights for the business year 2013.
The new shares will be offered to institutional investors by means of a private placement, using an accelerated bookbuilding process. The placement price and the proceeds from the issue will be made public once the price has been fixed.
This corporate action should help finance upcoming restructuring measures and generally strengthen the financial position of the company as well as its investment grade credit ratings.
LANXESS achieved an EBITDA pre-exceptionals of EUR 205 million in the first quarter of 2014, which was within the previously communicated guidance of roughly EUR 200 million.
This publication does not constitute a public offer of securities in Germany. It is not for publication or distribution, directly or indirectly, in or into the United States of America. This publication does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in the United States of America or in any other jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). The securities of LANXESS AG described herein have not been and will not be registered under the Securities Act, or the laws of any State, and may not be offered or sold within the United States of America, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable State laws. LANXESS AG does not intend to register any portion of the offering in the United States of America or conduct a public offering of securities in the United States of America.