DGAP-News: ADC African Development Corporation GmbH & Co. KGaA / Key
word(s): Capital Increase
ADC African Development Corporation GmbH & Co. KGaA: ADC successfully
places a capital increase against cash contributions of 764,614 shares
++ Cash proceeds of about EUR 9.2 million for further acquisitions
23.12.2011 / 14:47
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ADC African Development Corporation (ADC), ISIN DE000A1E8NW9, a fast
growing financial services group focusing on the frontier markets of
sub-Saharan Africa, has successfully closed a capital increase which was
resolved on 07 December 2011, raising EUR 9.2 million for further
acquisitions and investments. A total of 764,614 new shares were issued by
partial utilization of the authorized capital. A portion of the shares were
sold to existing investors while the remainder was in high demand with
institutional investors. All shares sold for EUR 12.00 per share.
The new shares are intended to be registered in the commercial register on
28 December 2011, increasing the share capital from EUR 7,646,150 to EUR
8,410,764 by issuing 764,614 new non-par registered shares with a nominal
value of EUR 1.00 per share.
It is anticipated that the new shares will be included into the existing
listing on the Frankfurt Stock Exchange on 30 December 2011.
The gross cash proceeds from the capital increase amount to approximately
EUR 9.2 million and enables ADC to make further investments in the
promising sub-Saharan African market in order to continue its growth and
success of the last four years. The company intends to close a new, large
acquisition shortly.
Olaf Meier, Managing Director of ADC, comments: 'The high demand and
successful placement of the new shares in a difficult market environment
illustrates the trust of our shareholders in our business model as well as
the rising importance of African investments for international investors.
This confidence has emerged due to continued strong growth in ADC's target
markets as well as from the impressive development of our portfolio
companies. We would like to thank our existing shareholders for their
continued support and belief in our business model. We are optimistic that
2012 will continue to be as successful as the last years. At the beginning
of next year we will come up with a forecast for the full year 2012 but we
do expect it to come in well above a planned-EBIT of EUR 10.0 million.'
++ About ADC ++
Belonging to the Angermayer, Brumm & Lange Group, 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 in-crease 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
End of Corporate News
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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 News DGAP News-Service
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150929 23.12.2011
DGAP-News: ADC African Development Corporation GmbH & Co. KGaA: ADC successfully places a capital increase against cash contributions of 764,614 shares ++ Cash proceeds of about EUR 9.2 million for further acquisitions
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