CHRIST Management Board resolves to increase capital with exclusion of subscription rights to a nominal value of € 1,758,349.00
The Management Board of Vienna Stock Exchange-listed Christ Water Technology AG ("CHRIST") resolved today to increase the company’s share capital from € 17,858,500.00 by up to € 1,758,349.00 by issuing up to 1,758,349 new shares for cash contribution. The existing shareholders’ subscription rights were excluded to facilitate that the capital increase may be implemented as quickly and flexibly as possible, thus limiting the risk of an adverse change in market conditions and facilitating a pricing of the capital increase close to the then current share price. The detailed report by the Management Board setting out the reasons for the exclusion of the subscription rights is expected to be published tomorrow in the Vienna Official Gazette (Amtsblatt zur Wiener Zeitung) and will be available for download at http://www.christwater.com.
Proceeds from the issue are to be used mainly to finance the acquisition of Zeta Group, to implement a sea water desalination plant project in the United Arab Emirates and to develop the operator-business of smaller, primarily municipal drinking water and/or waste water plants.
The Management Board resolution is subject to approval by the Supervisory Board of CHRIST.
The issue price of the new shares and the final volume of the capital increase are to be determined in a book-building procedure and are expected to be set and published on December 10th, 2007 by the Management Board with Supervisory Board approval in conjunction with. When setting the issue price of the new shares, in particular, the CHRIST share’s current stock exchange price on, or immediately prior to, the day of pricing will be taken into account.
The new shares are to be offered by the company by way of a private placement to selected institutional investors in Austria and the rest of Europe. GBR Financial Services GmbH will act as selling agent. The shares will not be offered publicly in Austria or in any other country.
The new shares are expected to be traded in the Prime Market segment of the Vienna Stock Exchange on or about December 13th, 2007.
_MANAGEMENT BOARD REPORT OF CHRIST WATER TECHNOLOGY AG FN 173093z, pursuant to § 171 para. 1 in conjunction with §153 para. 4 of the Aktiengesetz in respect of the exclusion of subscription rights,
DISCLAIMER: THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL NOR AN INVITATION TO BUY SECURITIES IN AUSTRIA, GERMANY, THE UNITED STATES OF AMERICA ("USA") OR IN ANY OTHER JURISDICTION. THIS DOES NOT CONSTITUTE A PUBLIC OFFER OF SHARES IN CHRIST WATER TECHNOLOGY AG (THE 'COMPANY').
THE SECURITIES WERE NOT AND WILL NOT BE REGISTERED PURSUANT TO THE C THE US SECURITIES ACT 1933, AS AMENDED ("SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE USA ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THIS INFORMATION IS NOT BEING ISSUED IN THE USA AND MAY NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH GENERAL CIRCULATION IN THE USA.
| Issuer: |
CHRIST WATER TECHNOLOGY AG
Walter-Simmer-Straße 4
A-5310 Mondsee |
| Telephone: |
+43/6232/9011-1001 |
| FAX: |
+43/6232/9011-1099 |
E-Mail:
|
office@christ-water.com |
| WWW: |
http://www.christwater.com/ |
| ISIN: |
AT0000499157 |
| Indices: |
WBI, ATX Prime |
| Stock exchanges: |
Official Market: Wiener Börse AG |
Contacts:
CHRIST WATER TECHNOLOGY AG, A-5310 Mondsee, Walter-Simmer-Str. 4
Karl Michael Millauer, CEO, Tel. +41 (0)61 755 8537
Ralf Burchert, Investor Relations & Corporate Communication
Tel. +43 (0)6232 5011 1113, Fax +43 (0)6232 5011 1109, E-mail: ralf.burchert@christ-water.com