Capital News
In the course of its upcoming shareholders’ meeting in Bielefeld on May 16 next, machine tool manufacturer DMG MORI SEIKI will table a motion for an anticipatory resolution. The present authorised capital, due to run until May 2017, has been largely used up, as is pointed out in the call for the meeting. The new authorisation should increase the share capital nominally to 102.5 million Euros. Some 30 million Euros still remain from the authorized capital.
Vossloh: a new financial investor
Vossloh AG, the group specialised in railway infrastructures and technical support has a new major shareholder. Since its entrance in early March, the Franklin Mutual’s investment has grown to today’s stake of more than 3% of shares. Shortly beforehand, SDax listed Vossloh put 1.3 million shares from its own portfolio up for sale swelling its coffers by 91 million Euros paid by institutional investors, which should have been used to reduce its 200 or so million Euro liability. Vossloh had bought the stock in a move to keep the owner of Knorr Breme, Heinz Hermann Thiele at bay. Thiele had bought over part of the company, winning in the power struggle against the founder’s family. Today he owns 20% of the Vassloh shares and is Chair of the Supervisory Board.
Progress-Werk Oberkirch: double the revenue
Progress-Werk Oberkirch AG, Prime standard listed supplier to the automobile industry since 1989, has issued a bonded loan for more than 60 million Euros. Originally intended to be only for 30 million, its success was so resounding that it was doubled. The company intends using this fresh money to ensure more growth and extinguish the short term bank loans. The title is in four instalments with due dates at five or seven years.
Paion: The plot thickens
Pion AG, the biopharmaceutical group listed among the Prime Standards on the Frankfurt bourse announced its intention to raise capital by 60% (no less) by issuing 18.5 million shares. The company announced that its aim was to raise between 40 and 55 million Euros of fresh capital. The purchase price will be made known shortly before the expiry date is published. The company wishes to invest the money in developing the anaesthetic Remimazolam and preparing its launch onto the European and North American markets. This capital measure still has to be approved by the shareholders’ meeting called for May 15. Last January 2014 Paion issued 2.8 million shares garnering some 5 million Euros. Other funds have arrived by private placement. The present total number of shares is some 30.8 million.
Bauer: no dividend
In October last year SDax listed Bauer AG had warned its investors – now it’s official. Despite the growth in total profitability and the positive results of last year, the construction company has logged a negative result of more than 19 million Euros. This is why investors in Bauer AG will have to forego a dividend because the company does not intend touching the reserves. Last year’s dividend (for 2012) was still 0.30 Euro per share.
The slide into the red is attributed to a “series of individual factors” and immense pressure from the competition. Management is still optimistic for this year; the order book is reported to be in good health. The group’s funding is said to have been completely overhauled and the earnings after tax for 2014 are forecast at between 20 and 25 million Euros.