HWA AG RESOLVES CAPITAL MEASURES
Dec 06, 2018
The new shares will carry dividend rights from the beginning of the current financial year. The proceeds from the capital increase are intended to strengthen HWA AG’s equity base and provide the foundation for further growth in the Vehicles/Vehicle Components business segment.
The new shares will be subscribed by Aufrecht GmbH and Dörflinger Management & Beteiligungs GmbH (“DMB”) as part of a private placement exempt from prospectus requirements.
Aufrecht GmbH is represented by Hans Werner Aufrecht and DMB by Willibald Dörflinger. Both individuals are already major shareholders of HWA AG and members of the Company’s Supervisory Board.
The placement is expected to be completed shortly. The placement price has been set at EUR 13.87 per share and therefore does not significantly undercut the current market price of HWA AG shares.
The new shares are intended to be admitted to trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange with simultaneous inclusion in the “Basic Board” segment.
The Company expects gross proceeds of approximately EUR 7.1 million from the placement.
In addition, the Management Board, with the approval of the Supervisory Board, has resolved to further increase the Company’s share capital by up to 20% through a public offering, also utilizing the Authorized Capital 2018.
For this capital increase, HWA AG intends to grant existing shareholders their statutory subscription rights.
The capital increase is planned to be carried out during the course of 2019. The proceeds will likewise be used to finance future growth across nearly all business areas of the Company and to strengthen its equity base.
Details regarding this capital increase, including the subscription price, will be announced by HWA AG at a later date once the corresponding resolution has been adopted.
At present, the Management Board expects the transaction to be implemented by the end of the second quarter of 2019.
Contact:
Investor Relations / Press
HWA AG
Volker Glaser
Benzstraße 8
71563 Affalterbach
Germany
Phone: +49 (0) 7144 8717-279
Fax: +49 (0) 7144 8718-111
E-mail: ir@hwaag.com
Company Profile of HWA AG
HWA AG is an independent 360° engineering specialist in the fields of motorsport and high-performance vehicles. Founded in 1998 by Hans Werner Aufrecht, the company is headquartered in Affalterbach, Germany, and currently employs around 300 highly qualified professionals.
All products and services of HWA AG are guided by the principle ENGINEERING SPEED. The company’s mission is to develop the highest-quality and most effective solutions to help its partners and customers achieve their goals faster. The service portfolio ranges from the design and engineering of all vehicle components to the development and production of complete vehicles, complemented by logistics, aftersales and support services.