01.12.08
Ad hoc announcement
Stuttgart, December 1, 2008. The Management Board of Business Media China
AG has decided on December 1, 2008 with the consent of its Supervisory
Board to increase the share capital of the company, divided into 5.999.466
bearer shares of presently EUR 5.999.466, by an amount of up to EUR
599.940. This will be implemented by the partial use of capital approved in
accordance with § 4, para. 2 of the Statutes of the company of up to EUR
599.940 by issue of up to 599.940 bearer shares against cash. The shares
will be issued against cash deposits at the subscription rate of EUR 7.50
per share.
The subscription period begins on December 2, 2008 and will end on December
15, 2008. The total subscription amount is due in full by cash payment on
December 15, 2008. The right of the shareholders to preferred subscription
is excluded in accordance with the authorisation in § 4, para 2 of the
Statutes. The subscription price of the shares, fixed at EUR 7.50 per
share, is not set significantly below the market rate of the shares
according to the § 186, para. 3, s. 4 of the AktG (Stock Corporation Law)
and § 4 para. 2 of the Statutes. The total amount of shares issued under
this authorisation does not exceed ten per cent of the share capital at the
time of the issuance.
The preferred subscription right of the shareholders was excluded to
implement the increase of capital in a timely and economical way. The new
shares are participating in profits from the beginning of the financial
year in which they are issued.
The new capital shall further strengthen the growth of the company: BMC is
in advanced negotiations for the acquisition of two very profitable fairs
in Beijing and Guangzhou. Moreover a budget needs to be provided in
particular for the newly initiated City furniture projects with Wall AG in
China.
With these new projects and Wall AG as a partner BMC will reach the 'Next
level' even faster.
This document does not represent an offer for sale of shares or other
securities of Business Media China AG in Germany. The information contained
in this document is not intended for distribution to the USA or within the
USA.