ADC African Development Corporation GmbH & Co. KGaA: ADC plans to issue a bond with warrants attached in the volume of up to EUR 40 million to finance further acquisitions - Bond issuance committed by ADC's key shareholders

ADC African Development Corporation GmbH & Co. KGaA  / Key word(s):
Issue of Debt/Corporate Action

17.04.2012 21:32

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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- ADC plans to issue a bond with warrants attached in the volume of up to
EUR 40 million to finance further acquisitions
- Bond issuance committed by ADC's key shareholders

To finance further acquisitions, the management of ADC African Development
Corporation GmbH & Co. KGaA ('ADC'), ISIN DE000A1E8NW9, a fast growing
banking group focusing on the frontier markets in sub-Saharan Africa, has
today decided with approval of the Supervisory Board to utilize the
authorization from the Annual General Meeting of August 2009 to issue a
bond with warrants attached ('bond') in the volume of up to EUR 40 million.
The bond will be offered to existing shareholders via a rights offer.
Non-subscribed bonds will be offered to international institutional
investors via a private placement. To enable ADC management to give firm
commitments today, ADC's key shareholders have committed to subscribe the
issuance.

The bond will have a duration of 3 years with a fixed interest rate of 6 %
per annum and will include up to 2.0 million warrants entitling the holders
to subscribe to up to 2.0 million new ordinary registered shares of the
company (one warrant bears the right to buy one share) at a share price of
EUR 14.00. The warrants also have a duration of 3 years. The issue will be
divided into 400,000 units, each unit representing a bond with par value of
EUR 100.00 and 5 warrants. The final terms and conditions of the bond and
the rights offer will be published by the end of April 2012. The
subscription period will then be two weeks.

Contact:
Investor Relations
investor-relations@african-development.com
T +49 69 719 12 80 119


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Information and Explaination of the Issuer to this News:

Although ADC had EUR 29 million cash on the accounts as of end of March
31st 2012 (including restricted cash for a Nigerian acquisition),
management regards the total amount of EUR 70 million as a perfect 'war
chest' for further acquisitions including a reasonable stable cash reserve.

Following the announcement of March 28th, 2012, ADC aims to significantly
accelerate the pace of its growth. This shall be executed both by
consolidating existing operational affiliated companies on ADC group level
and by acquiring new banks as well as pursuing organic growth.

So far, ADC has underwritten a USD 50 million rights issue of ABC Holdings
Ltd., Botswana ('BancABC') through its fully owned subsidiary ADC Financial
Services & Corporate Development GBL1 and is also concentrating on the
final closing of the above mentioned investment into one of the leading
Nigerian banks. One further potential acquisition is being evaluated
carefully as well at the moment and is likely to be executed soon.

About ADC 
ADC African Development Corporation, ISIN DE000A1E8NW9 (ticker symbol:
AZC.GR), a member of the Angermayer, Brumm & Lange Group
(www.abl-group.de), was established in September 2007 and aims to become
one of the leading banking groups in sub-Saharan Africa, active in
corporate and retail banking as well as insurance business and proprietary
investments. ADC also provides high level advisory services to
international clients who wish to pursue investment and business
opportunities in the highly attractive African growth markets.

The company's success is primarily due to its local management team, which
follows international best practice principles to further develop its
operational companies and implements conventional international processes
to increase their profitability. As the second international emerging
market investor in the world, ADC was integrated into the insurance
solution offered by the Multilateral Investment Guarantee Agency ('MIGA'),
a member of the World Bank Group, primarily due to its strong operational
approach and adherence to the highest ethical standards. This insurance
offers protection against a variety of political risks, in particular the
risk of radical political change.

17.04.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      ADC African Development Corporation GmbH & Co. KGaA
              Grüneburgweg 18
              60322 Frankfurt/Main
              Germany
Phone:        +49 69 719 12 80 00
Fax:          +49 69 719 12 80 011
E-mail:       info@african-development.com
Internet:     www.african-development.com
ISIN:         DE000A1E8NW9
WKN:          A1E8NW
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf
 
End of Announcement                             DGAP News-Service
 
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