FAST Casualwear AG / Key word(s): Capital Increase
05.03.2014 19:52
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Hamburg, 5 March 2014 - With approval of the Supervisory Board of the
company, the Management Board of FAST Casualwear AG has resolved on
carrying out a second capital increase in the current financial year. The
capital increase will be carried out against cash contribution using the
authorized capital to issue 600,000 new shares at a par value of one Euro
and at a price of EUR 1.60 per share. Once today's capital increase as well
as the capital increase of February 2014 have been registered in the trade
register, the share capital will increase to EUR 13,300,000.00. The capital
increase is carried out excluding the right of subscription of the
shareholders and is subscribed solely by an unrelated individual investor.
The new shares shall carry dividend rights for the financial year 2013.
FAST Casualwear plans to use the gross proceeds of the capital increase
amounting to EUR 960,000 to support the overall working capital and to
finance OEM orders of the company. Furthermore, the transaction will
broaden the company's shareholder base.
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Information and Explaination of the Issuer to this News:
About FAST Casualwear AG
FAST Casualwear AG is the German holding company of FAST Group, a Chinese
group of companies engaged in the design, production and sale of
casualwear, consisting of footwear and apparel including accessories. It
mainly designs and produces casualwear under its own brand name 'FAST',
targeting consumers aged between 16 and 35 primarily in the lower tier
cities in China. FAST distributes its own brand products through 28
unaffiliated regional distributors, who sell the products via retail
outlets operated either by themselves or by third party sub-distributors.
Its distribution network consists of around 951 retail outlets in over 100
cities throughout China. FAST also designs and produces footwear as
contract manufacturer for international brand owners, mainly from Europe
and the U.S. FAST's operating facilities are located in the southeast of
China in Jinjiang City, Fujian Province, one of the largest footwear
manufacturing hubs in China. FAST employs 980 employees.
For further information please visit www.fast-casualwear.com or contact
Kirchhoff Consult AG
Dr. Kay Baden
Tel: +49 (0)40 609 186 39
E-mail: baden@kirchhoff.de
05.03.2014 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: FAST Casualwear AG
c/o Kirchhoff Consult AG, Herrengraben 1
20459 Hamburg
Germany
Phone: 040 60 91 86 0
Fax: 040 60 91 86 60
E-mail: fast@kirchhoff.de
Internet: www.fast-casualwear.com
ISIN: DE000A1PHFG5
WKN: A1PHFG
Listed: Regulierter Markt in Frankfurt (Prime Standard)
End of Announcement DGAP News-Service
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DGAP-Adhoc: FAST Casualwear AG decides on second capital increase 2014
| Source: EQS Group AG