DGAP-Adhoc: ADC African Development Corporation announces capital increase from authorized capital of up to 764,614 shares - Financing of two further pipeline deals to ensure continued growth

ADC African Development Corporation GmbH & Co. KGaA  / Key word(s): Capital
Increase 

07.12.2011 14:54

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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ADC African Development Corporation GmbH & Co. KGaA, a rapidly growing
financial services group focusing on the frontier markets of sub-Saharan
Africa, announces an increase in its share capital. With the approval of
the Supervisory Board, the management of the General Partner has today
decided to nominally increase the share capital of currently EUR
7,646,150.00 through a partial utilization of the existing authorized
capital up to EUR 8,410,764.00 by issuing up to 764,614 (EUR 764,614.00,
10% of share capital) new non-par registered shares with a nominal value of
EUR 1.00 per share against cash contributions.

Although German law allows the exclusion of subscription rights within a
10% capital increase, management decided to voluntarily offer its
shareholders a subscription right in the ratio of 10 to 1 (indirect
subscription right). For 10 'old' shares 1 'new' share can therefore be
obtained. The subscription period will begin on Friday 09 December 2011 and
will continue for two weeks up to and including 22 December 2011. The
subscription price amounts to EUR 12.00. The subscription offer will
presumably be published in the Electronic Federal Gazette on Thursday, 08
December 2011.

Shareholders have the option to subscribe for further shares, exceeding the
number of shares which they are entitled to based on the subscription
rights via over-subscription.

Non-subscribed shares will first of all, via over-subscription, be offered
to existing shareholders, further shares will be placed with institutional
investors in a private placement. Existing strategic investors of ADC
already indicated their interest to exercise their subscription rights and
if possible increase their shareholding.
 
Use of proceeds will be allocated to two new promising transactions in the
pipeline.

The capital increase will be accompanied by Silvia Quandt & Cie. AG as tied
agent pursuant to section 2 paragraph 10 of the German Banking Act (KWG) in
the name and on behalf of biw AG.


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Information and Explaination of the Issuer to this News:

About ADC
ADC African Development Corporation, ISIN DE000A1E8NW9 (ticker symbol:
AZC.GR), was established in September 2007 and quickly positioned itself as
one of the leading investors for banks and insurance companies in the
above-average growth markets of sub-Saharan Africa. The company's success
is primarily due to its local management team, which follows international
best practice principles to further develop banks and implements
conventional international processes to increase their profitability. As
the second international emerging market investor in the world, ADC was
integrated into the insurance solution offered by the Multilateral
Investment Guarantee Agency ('MIGA'), a member of the World Bank Group,
primarily due to its strong operational approach and adherence to the
highest ethical standards. This insurance offers protection against a
variety of political risks, in particular the risk of radical political
change.


Contact:
Investor Relations
investor-relations@african-development.com
T +49 69 719 12 80 119



07.12.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      ADC African Development Corporation GmbH & Co. KGaA
              Grüneburgweg 18
              60322 Frankfurt/Main
              Germany
Phone:        +49 69 719 12 80 00
Fax:          +49 69 719 12 80 011
E-mail:       info@african-development.com
Internet:     www.african-development.com
ISIN:         DE000A1E8NW9
WKN:          A1E8NW
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf
 
End of Announcement                             DGAP News-Service
 
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