Auriga Industries A/S, Harboøre, Denmark, 2016-01-29 08:00 CET (GLOBE NEWSWIRE) --
Company announcement no. 3/2016
29 January 2016
Annual Report 2015
̶ Wind-down progressing as expected
2015 reflected the wind-down of Auriga, progressing as expected. A share buy-back program in Q4 2015 distributing remaining funds to the shareholders is followed by the completion of the wind-down in Q1 2016. A compulsory redemption of the remaining shareholders has been initiated, and Auriga will be delisted end of 29 January 2016.
Highlights 2015
-
On 21 April 2015, the transaction divesting Cheminova A/S from the Auriga group was closed, and the net cash proceeds of DKK 8.5 billion were received from FMC Corporation.
-
In parallel, the wind-down of all activities and the associated reduction of assets and liabilities progressed.
-
On 16 June 2015, extraordinary dividends of DKK 8.2 billion were distributed, corresponding to DKK 323 per share.
-
On 16 December 2015, a share buy-back program of DKKm 32.7 was completed, corresponding to DKK 2.60 per share.
This was equal to approximately 81 % of the Class B shares not held by Aarhus University Research Foundation (AUFF) or by Auriga.
-
On 31 December 2015, supplementary share buy-backs at the same price as used in the share buy-back program amounted to DKKm 1.4. In the period 1-28 January 2016, additional share buy-backs amounted to DKKm 4, increasing the ownership share of Auriga’s treasury shares to 58 % of total share capital and 16 % of total votes.
-
Net profits of DKKm 5,731 was posted for the Group for 2015, primarily due to the profit on discontinued operations. The accounting gain from discontinued operations amounted to DKKm 7,528 for the Parent company measured against cost price and DKKm 5,770 for the Group measured against net asset value.
-
Administrative costs amounted to DKKm 28 and net financial costs to DKKm 14. A tax income of DKKm 3 was realized. In the interim reports for Q2 2015 and Q3 2015, transaction costs of DKKm 89 related to the divestment were included in the administrative costs, but have at year-end been reclassified to discontinued operations.
-
As at 31 December 2015, remaining funds in Auriga consisted of equity reserves of DKKm 35, and liabilities were DKKm 5. Assets consisted of DKKm 39 in cash and DKKm 1 in other receivables.
Remaining activities in 2016
-
Today, 29 January 2016, is the last day of trading of Auriga’s shares on Nasdaq Copenhagen (delisting).
- Adjusted for Auriga’s treasury shares, AUFF owned 92 % of the adjusted share capital and 99 % of the adjusted votes end of 28 January 2016. The requirements to redeem any remaining shareholders are fulfilled, and AUFF has initiated a compulsory redemption.
- The Annual General Meeting 2016 will be held on Friday 26 February 2016. At this stage, the Board of Directors considers its role fulfilled and will resign. The future board of directors will be appointed by AUFF.
AURIGA INDUSTRIES A/S
Lene Faurskov
Manager, Investor Relations
Mobile: +45 41 64 05 04
investor@auriga.dk
ABOUT THE ANNUAL REPORTING
The Annual Report 2015 was prepared and released in English, as an electronic version only, and made available at www.auriga-industries.com.
Auriga will be delisted on 29 January 2016
Reference is made to company announcement no. 30/2015 of 18 December 2015, in which it is set out that Nasdaq Copenhagen has accommodated Auriga’s application for delisting. The last day of trading for Auriga’s shares on Nasdaq Copenhagen will be Friday 29 January 2016.
In the period until the company’s delisting, Auriga will conduct supplementary share buy-backs, which will be made through ordinary acquisitions in the market at the same price of DKK 2.60 as used in the completed share buy-back program. This is in accordance with the authorization adopted at the extraordinary general meeting on 23 November 2015.
