Cargolifter AG i.I. (delisted)
CargoLifter AG english
CargoLifter publicly offers subordinate convertible bond from 9 May 2002
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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Berlin. From 9 May 2002 CargoLifter AG will offer its subordinate convertible
bond which it had previously offered exclusively to shareholders to the general
public. After a good start, the subscription volume of Euro 3.8 million remained
until now below the expectations of the company. “The announcement of the
letter of intent signed with Boeing on 2 May 2002 as an important signal only
occurred at the end of the subscription period”, stated CFO Karl Bangert. “In
the context of the public offer not only shareholders but also all interested
parties can now subscribe to the subordinate convertible bond.”
With a coupon of 6 per cent per year, a term of five years and a price of Euro
6.0 per convertible bond, the company is offering the bond at unchanged
conditions. Of the original tranche of Euro 49.8 million, approximately 7.6 per
cent were taken up by the shareholders. The announcement on the agreement with
Boeing on 2 May 2002, just before the subscription period concluded on 3 May
2002 regarding the development and use of the “lighter than air” technology with
the objective of analysing the possibility of a long-term partnership, combined
with the difficult situation on the capital markets and the pending decision on
the State of Brandenburg regarding a loan and the possible grant of a federal
loan in 2003 were factors in the restraint of many shareholders.
At the ILA 2002 CargoLifter AG presents the current status of its “lighter-than-
air” systems and technical developments and holds intensive talks with further
strategic partners and possible financial investors. “With more than 1,000
exhibitors from more than 40 countries, the ILA is one of the leading aviation
and aerospace fairs in the worlds, offering CargoLifter an ideal platform for
presenting potential technology partners and customers our existing product
being already tested, the transportation balloon CL 75 AC. Furthermore, it is
our objective to gain further aviation and aerospace companies as partners for
the development of our “lighter-than-air” systems, especially for the
transportation airship CL 160″, stated Cargolifter AG CEO, Dr. Carl von Gablenz.
In the framework of the ILA 2002 CargoLifter invites participants today for a
presentation regarding “Use of the “lighter-than-air” Technology for
Humanitarian and Military Operations” to the company’s hangar site in Brand.
There, representatives of commercial and military organizations will be
presented a possible deployment scenario for the transport balloon CL 75 AC,
with the load transportation of a minesweeper, type “Keiler”. In March the
company sold the first CL 75 AC to a Canadian company for transporting oilfield
equipment on the ice roads in the arctic region and an option for 25 further
systems. CargoLifter is also registering strong interest from plant and system
producers and further applications from different areas in the deployment of the
CL 75 AC. Since February 2002 the CL 75 AC completed several tests, executed
within the framework of the main test program.
end of message, (c)DGAP 07.05.2002
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