Business News

schlott gruppe successfully completes seasoned equity offering

Wednesday 30. December 2009 - Extensive support by principal shareholders; Financing package secured until 2011/12

The rights issue by schlott gruppe, as offered to shareholders in the period from 10 to 23 December 2009, was yesterday entered in the Commercial Register. Thus, the seasoned equity offering has now been successfully completed, and the company will receive the anticipated proceeds of €3.8 million.
The injection of capital forms an integral part of the company’s refinancing package with regard to equity. Within the parameters of projected business performance and the restructuring measures announced by schlott gruppe, the Group’s refinancing, including associated restructuring charges, has now been secured up until 2011/12.
The majority of new shares issued were subscribed by the principal shareholders of schlott gruppe within the context of the possibility to subscribe those shares not taken up by other rights holders. Together with other shareholders who exercised their subscription rights, the company’s principal shareholders thus underlined their long-term commitment to the enterprise and reaffirmed their conviction that schlott gruppe has initiated appropriate measures to address the issue of structural change within the European printing industry.
Heiko Arnold, Chief Financial Officer of schlott gruppe: “I would like to express my gratitude, also on behalf of my fellow members of the Management Board, for the support given by our shareholders. Indeed, the disposition of our shareholders to make contributions is to be seen as a significant part of our restructuring package. Drawing on this support, we can now focus on further implementing the measures planned by the company. By substantially reducing our capacity levels and scaling back costs, we will adapt our business to changed market conditions within today’s printing industry to come into a position to return to sustainable profitability.”