iQ Power AG / Capital Increase
14.07.2010 07:47
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
iQ Power AG: Details about the Capital Increase
- Issue price set at EUR 0.108
- Subscription period to extend from 19 July to 2 August 2010
- Funds will support further corporate growth and expansion
Zug/Switzerland, 14 July 2010 - iQ Power AG (ISIN: CH0020609688, WKN:
A0DQVL, Symbol: IQPB), the developer and marketer of eco-friendly and
technologically advanced starter batteries for motor vehicles, today
published the detailed structure and terms for the rights issue to raise
capital that was announced on 2 June.
The board of directors of iQ Power AG adopted a resolution on 12 July 2010
setting the purchase price for the share issue with subscription rights
having a volume of less than 10 percent of the share capital. The
subscription price will be EUR 0.108 per registered share for the up to
34,873,604 registered shares that will be generated from this measure to
raise capital.
The new shares, which will be entitled to dividends effective 1 January
2010, will be offered to shareholders at a ratio of 10:1. This means that
one new registered share can be purchased for each 10 existing registered
shares of the company. The subscription period begins on 19 July 2010 and
ends on 2 August 2010 (starting and end dates inclusive). The company's
board of directors will offer any registered shares, which remain
unsubscribed due to this indirect rights offering, to other interested
shareholders at the same terms during the subscription period in order for
them to exercise any oversubscription rights. Any new registered shares
that are not purchased by existing shareholders can also be offered to
institutional investors at the same terms as part of a private placement
during the subscription period. Rights trading is not permitted. The new
shares are projected to be delivered on 12 August 2010.
For each new registered share issued, the company will grant to the
respective shareholder one option right each of type A and type B, each of
which authorizes that shareholder to purchase one additional registered
share in the company at a subscription price of EUR 0.108 each. Type A
option rights may only be exercised beginning on 1 September 2011 and type
B option rights beginning on 1 September 2012. You can find the exact
option terms in the prospectus that was published today or you may download
them from the company's website.
The company intends to use the net proceeds from the issue of these new
registered shares to further fund the company's growth and expansion
strategy. The net proceeds from this issue will also serve to generally
strengthen the company's assets base and improve its credit standing with
an eye towards pursuing future classic corporate financing. In particular,
these proceeds will be used by the company to enhance its capacity and
flexibility in supplying the products that it offers.
The Board of Directors
About iQ Power
iQ Power AG is a developer and supplier of innovative starter batteries for
motor vehicles. The products are technologically advanced, deliver greater
efficiency, and are environmentally sound and lighter in weight. The
company's many achievements include the development of the world's first
software-controlled smart car battery. Industrial batteries and system
solutions for electrical energy management in vehicles help round out its
operational portfolio.
The company's operational element is iQ Power GmbH in Chemnitz (Germany),
which is a wholly owned subsidiary of iQ Power AG. Headquartered in Zug
(Switzerland), iQ Power AG is a publicly listed stock corporation whose
shares are traded on the regulated market (General Standard segment) of the
Frankfurt Stock Exchange, over the counter on the securities exchanges in
Berlin, Düsseldorf, Munich and Stuttgart, as well as on Xetra (ISIN:
CH0020609688, WKN: A0DQVL, IQPB).
Company Contact:
iQ Power AG
MetallstraÃe 9
CH-6304 Zug
Tel.: +41(0)417680363
Fax: +41(0)417680368
info@iqpower.com
www.iqpower.com
Investor Relations Contact:
GFEI Aktiengesellschaft
Hamburger Allee 26-28
60486 Frankfurt am Main
Tel: +49(0)69 74 30 37 00
Fax: +49(0)69 74 30 37 22
iQPower@gfei.de
www.gfei.de
14.07.2010 07:47 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
---------------------------------------------------------------------------
Language: English
Company: iQ Power AG
Metallstrasse 9
6304 Zug
Schweiz
Phone: +41 41 7680360
Fax: +41 41 768 03 68
E-mail: investor-relations@iqpower.com
Internet: www.iqpower.com
ISIN: CH0020609688
WKN: A0DQVL
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
München, Düsseldorf, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: iQ Power AG: Details about the Capital Increase
| Source: EQS Group AG