iQ Power AG / Key word(s): Miscellaneous
03.02.2012 18:45
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: Progress of the Convertible Bond
- Rights Issue and Private Placement of Convertible Bonds have been
subscribed in the volume of EUR 2.26 million
- Unsettled capital market environment makes scheduled placement of the
convertible debenture difficult
- Additional possibilities for funding of the increase to working capital
and investments to expand and take over the lead battery manufacturing
and recycling plant in Bosnia-Herzegovina are being explored
Zug / Switzerland, 03 February 2012 - iQ Power AG (ISIN: CH0020609688, WKN:
A0DQVL, symbol: IQPB), developer and marketer of environmentally friendly
and technologically advanced starter batteries for motor vehicles, has
announces interim progress in the current placement of the convertible
bond.
So far, 452 convertible bonds were subscribed with a total volume of EUR
2.26 million. The total amount of the convertible bonds available to be
issued amount to a maximum of EUR 5.6 million in denominations of EUR 5,000
each. This represents a total of 1,120 convertible debentures. Given the
current difficult situation on the international capital markets, the
placement - despite the attractive stucturing of the convertible bond -
needs a longer time frame as originally planned. It was therefore decided
to extend the subscription period for an indefinite period. In addition,
other financing options are being explored in parallel.
The use of funds will be to increase working capital and for investment in
expanding and taking over the battery manufacturing and recycling plant in
Bosnia-Herzegovina. Due to the change in timing for raising the necessary
funds, the originally targeted investments and activities to develop the
European business will be delayed. The development of iQ Power's licensees
in USA and Asia is not affected by this delay.
The Board
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
Metallstrasse 9
6304 Zug
Schweiz
Tel.: +41(0) 41 768 03 63
Fax: +41(0) 41 768 03 68
info@iqpower.com
www.iqpower.com
Investor Relations Contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 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
03.02.2012 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: iQ Power AG
Metallstrasse 9
6304 Zug
Switzerland
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 (General Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Progress of the Convertible Bond
| Source: EQS Group AG