Arcandor AG

  • WKN: 627500
  • ISIN: DE0006275001
  • Land: Germany

Nachricht vom 25.11.2004 | 22:03

KarstadtQuelle defines details of capital increase

Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.

----- NOT FOR DISTRIBUTION IN THE UNITED STATES KarstadtQuelle defines details of capital increase Essen, 25 November 2004. The Management Board and Supervisory Board of KarstadtQuelle AG have today defined the details of the intended cash capital increase. Share capital is to be increased from EUR301,459,904 million by EUR238,185,920 million to EUR539,645,824 million. KarstadtQuelle shareholders shall be offered 93,041,375 new shares at a ratio of 8 to 7 by the members of a syndicate led by ABN AMRO Rothschild and Dresdner Kleinwort Wasserstein. For every 8 old shares, shareholders shall be able to subscribe for 7 new shares. The subscription price is EUR5.75. A German sales prospectus for the new shares is expected to be admitted on 26 November 2004. It will be available from the underwriters and from all German Stock Exchanges. The subscription period shall begin on Tuesday, 30 November 2004 and shall end on Monday, 13 December 2004. The stock exchange trading in the subscription rights is expected to be established during the period from 30 November to 9 December 2004. KarstadtQuelle AG is expected to receive gross proceeds (before costs) of EUR535.0 million from the capital increase. Essen, 25.11.2004 The Management Board ----- This announcement neither constitutes a sales offer nor is it an invitation to subscribe to any shares. Offers are made solely on the basis of a prospectus. The offering prospectus will be available from the end of November 2004 from the underwriting banks and all German stock exchanges. This announcement neither constitutes a sales offer nor is it an invitation to subscribe to any shares in the United States. KARSTADT QUELLE AG shares (hereinafter "shares") may not be offered or sold in the US or to US citizens or on their behalf (in accordance with Regulation S of the American Securities Act of 1933 as defined in the relevant version (hereinafter "Securities Act")) unless they are registered or exempted from registration in accordance with the Securities Act. In accordance with the Securities Act, the shares are not and will not be registered. A share offer in the US is only possible on the basis of a prospectus and detailed information about KARSTADT QUELLE AG as well as its management and its annual accounts. end of ad-hoc-announcement (c)DGAP 25.11.2004
----- WKN: 627500; ISIN: DE0006275001; Index: MDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart 252203 Nov 04

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Hohes Kurspotenzial: „Attraktiver „Value-add“-Immobilienspezialist

Die Coreo AG führt derzeit eine Bezugsrechtskapitalerhöhung durch, in deren Rahmen ein Bruttoemissionserlös von bis zu 16 Mio. € angestrebt wird. Der Liquiditätserlös soll zum Erwerb von Gewerbe- und Wohnimmobilien für den Geschäftsbereich „Value Add“ verwendet werden. Derzeit, also pre money, verfügt die Gesellschaft über ein prognostiziertes NAV (auf Grundlage von GBC-Berechnungen) von 2,40 €. Für das laufende und kommende Geschäftsjahr rechnen wir mit einem spürbaren Ertrags- und Ergebnisanstieg. Neben der Steigerung von Mieterträgen sollte die Gesellschaft im nennenswerten Umfang Veräußerungserlöse erzielen sowie stille Reserven aufdecken. Auf Basis unseres DCF-Bewertungsmodells (post money) haben wir ein Kursziel von 3,10 € ermittelt. Auf Basis des aktuellen Kurses sowie des Platzierungspreises im Rahmen der Kapitalerhöhung von 1,60 € je Aktie lautet unserer Einschätzung KAUFEN.“

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