AUTEV AG
Capital Increase to fund expansion and the further internationalization of the company
AUTEV AG / Key word(s): Capital Increase/Miscellaneous AUTEV AG: Capital Increase to fund expansion and the further internationalization of the company Brandenburg an der Havel, January 19, 2012 – The AUTEV AG announces that the company has initiated a capital increase via a rights offering of authorized capital. This will entitle the holders of four old shares to purchase one new share (subscription ratio 4:1). As a result, with the current level of 854,768 outstanding old shares, up to 213,692 new shares of the company can be subscribed for. The subscription price will be EUR 4.25, resulting in a potential subscription amount of approximately EUR 0.91 million. The continued internationalization of the company is increasing becoming an integral part of business plan for the AUTEV AG. For this reason, a majority of the capital raised via this rights offering will be used for the planning and development of a factory to be used for a project in the Czech Republic that was contracted last month for a total volume of EUR 8.4 million. The AUTEV AG will construct a highly modern factory there with research, development, and production facilities for LED lighting technology. The joint venture with Industrial Light & Control a.s. should prove to be an enormous help in aiding the AUTEV AG in their expansion into the growing eastern European marketplace. A new line of products, are to be exclusively developed for the east European markets custom tailored to the differing requirements of these countries. 'The sale of our factories to the Czech Republic has once again confirmed that we are on the right path. The name AUTEV, as well as the AuLED lighting products have in the meantime become internationally recognized and accepted for their inherent high quality standards. We are also able to provide the Czech Republic with a notable increase in energy efficiency through our products; of which we, as a mid-sized company, are extremely proud of. This makes us very confident that we will continue to meet our own high expectations and targets in the years to come', said Tim David, Chairman of the AUTEV AG.
About AUTEV AG
Over the years, the AUTEV AG has developed into an efficient and internationally operating engineering and service company. Additionally, the company is striving to achieve technology and market leadership in new fields of business. As a result the company successfully entered the market for energy efficient and CO2 reducing lighting technology. Following two years of research, the AUTEV AG successfully introduced AuLED into the market. AuLED is an innovative and energy saving lamp for streets and industrial buildings, based on ultra-modern LED technology, which is already currently being widely used.
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