iQ Power AG / Miscellaneous
13.08.2010 07:32
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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iQ Power AG Intends to Launch a Convertible Bond
Zug/Switzerland, 13 August 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, intends to
issue a convertible bond.
As a follow-up to the recent successful and heavily oversubscribed rights
issue to increase capital, iQ Power AG intends to offer its shareholders
and interested institutional investors yet another investment opportunity
at similar terms. Accordingly, and with reference to Article 3b, Nr. 2,
lit. c of the Articles of Incorporation, the board of directors intends to
issue a convertible bond. Plans call for a conversion price of EUR 0.108
per share when exercising the conversion options. The subscription period
is expected to begin in late August 2010 / early September 2010.
The new funds that the company will receive by issuing this convertible
bond are intended to be used primarily for investments to increase
earnings. Possible investments in the area of lead recycling are being
examined. Fluctuations in the price of lead, which constitutes the main
share of the cost of manufacturing batteries, could be better averted, and
costs reduced, through an involvement in the field of lead recycling.
What's more, investments in systems for battery formatting, one of the last
steps in the battery manufacturing process chain, could boost the rate of
daily production and in turn increase iQ Power AG's overall capacity.
Detailed information about the convertible bond will be announced shortly.
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
13.08.2010 07:32 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|]]]|]
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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 München,
Düsseldorf, Berlin, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: iQ Power AG Intends to Launch a Convertible Bond
| Source: EQS Group AG