Keep updated with the CANCOM RSS-Feed and do not miss any important news.
Munich, Germany, 25 October 2012 - The Executive Board of CANCOM AG has
today decided to increase the company's capital. The Supervisory Board has
approved the decision. The share capital of CANCOM AG is to be increased by
EUR 1,039,075 using authorised capital while rescinding shareholders'
statutory subscription rights. The increase will be in exchange for cash
contributions, with 1,039,075 notional no-par-value bearer shares being
issued. The move will increase the company's share capital from EUR
10,390,751 to EUR 11,429,826.
The company has already received a binding commitment from an investor from
Regensburg, Germany, the entrepreneur Dr. Johann Vielberth, to purchase all
the new shares issued. The issue price was set very close to the stock
market price, at EUR 11.00. The new shares will carry dividend rights from
The Executive Board anticipates that there will be attractive opportunities
to increase the market share of the CANCOM Group by means of company
acquisitions during the next few quarters owing to the overall economic
slowdown. This should also enable the group's target for sales revenues of
EUR 1 billion to be reached in the medium term. The inflow of funds of EUR
11.4 million will be used to boost the equity base for the further organic
and inorganic growth of the group. In addition, approximately EUR 10
million in largely subordinate loans will be repaid in the current
financial year from the current cash flow as well as from the capital
The Executive Board and Supervisory Board appreciate the backing of the
entrepreneur Dr. Johann Vielberth from Regensburg, Germany. The latter
plans to support the growth of the CANCOM Group as an 'anchor shareholder'
and to hold onto the shares acquired in the capital increase in the long