NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, INDIRECTLY OR DIRECTLY, IN THE USA, CANADA, JAPAN OR AUSTRALIA OR OTHER COUNTRIES IN WHICH SUCH A PUBLICATION MAY BE ILLEGAL.
VARTA AG, Ellwangen, ISIN: DE000A0TGJ55
Publication of insider information in accordance with Article 17 of Regulation (EU) No. 596/2014 - Market Abuse Regulation
VARTA AG Resolves on Capital Increase from Authorized Capital
Ellwangen, June 12, 2019 - With the approval of the Supervisory Board, the Management Board of VARTA AG (the "Company") has resolved to increase the Company's share capital with exclusion of the shareholders' subscription rights. The capital increase shall be effected against cash contribution and with partial utilization of the existing authorized capital pursuant to Section 4(3) of the articles of association. The Company's share capital will be increased by such aggregate number of new no-par-value bearer shares with a notional value in the share capital of EUR 1.00 per share which yields gross proceeds of approximately EUR 100,000,000. The new shares will be exclusively offered to institutional investors as part of an international private placement by means of an accelerated bookbuilding process, which will commence immediately after this announcement and is expected to close before markets open tomorrow.
The new shares are fully entitled to dividends for the 2019 financial year. The new shares will carry the same rights as the existing shares.
The new shares shall be admitted to trading on the regulated market of the Frankfurt Stock Exchange, without a prospectus, with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard).
The net proceeds from the capital increase shall be used to finance a further expansion of its production capacities in the strongly growing segment of rechargeable lithium-ion cells, which are used for high-tech consumer products. Through this expansion, the Company will expand its production by an additional 40 million cells per year with the goal to reach a total annual production of well above 100 million cells by 2021.
Berenberg is acting as Sole Global Coordinator and Sole Bookrunner in the transaction. The Company has agreed to a lock-up of six months subject to customary exceptions. The first trading day for the new shares is expected to be on June 14, 2019.
About VARTA AG
VARTA AG, as the parent company of the Group, is active in the microbatteries and Power&Energy business segments through its subsidiaries VARTA Microbattery GmbH and VARTA Storage GmbH. Today, VARTA Microbattery GmbH is already an innovation leader in the field of microbatteries, one of the market leaders for hearing aid batteries and is also striving for market leadership for lithium-ion batteries in the wearables sector, especially for hearables. VARTA Storage GmbH focuses on intelligent energy solutions for tailor-made battery storage systems for OEM customers as well as on the design, system integration and assembly of stationary lithium-ion energy storage systems. With five production and manufacturing facilities in Europe and Asia as well as sales centers in Asia, Europe and the USA, the operating subsidiaries of the VARTA AG Group are currently active in over 75 countries worldwide.
Important Notice
This publication constitutes neither an offer to sell nor a solicitation to buy shares of VARTA AG. No public offer of securities of VARTA AG is being made or intended.
The distribution of this publication may be subject to legal restrictions in certain jurisdictions. Persons who come into possession of this publication are requested to inform themselves about any of such restrictions and comply with them. Non-compliance with such restrictions may constitute an infringement of the securities laws of the respective jurisdiction.
This document is not an offer of securities for sale in the United States. The shares of VARTA AG (the "Shares") have not been registered and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. A public offering and/or a registration under the Securities Act are not intended.
This document is only being distributed to and is only directed at persons who (i) are outside the United Kingdom or (ii) are investment professionals falling within Article 19(5) or persons falling within Article 49(2)(a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) (all such persons together being referred to as "Relevant Persons").
The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. This announcement is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons.
Contact:
Bernhard Wolf
Head of Investor Relations
Tel: +49 79 61 921-969
Mail: [email protected]
12-Jun-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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