01.06.2015
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DGAP-News: KTG Agrar SE strengthens equity capital and continues the harvest phase
DGAP-News: KTG Agrar SE / Key word(s): Capital Increase
KTG Agrar SE strengthens equity capital and continues the harvest
phase
01.06.2015 / 08:00
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KTG Agrar SE strengthens equity capital and continues the harvest phase
Hamburg, 1 June 2015. The Management Board and the Supervisory Board of KTG
Agrar SE have decided to use the authorised capital pursuant to section 6
of the company's statutes and to increase the share capital by 506,400 new
bearer shares (approx. 8% of the existing share capital) in an ex-rights
issue. The transaction was effected by way of a private placement at a
offering price of EUR 14.33 per share. The gross proceeds for the
agricultural company amount to approx. EUR 7.25 million.
"Having successfully completed the investment phase in 2014, we have the
clear objective to increase our equity ratio, according to HGB accounting
standards, from the current level of c. 18% to clearly above 20%. After the
strong profit growth in 2014, the capital increase is the next step on this
way," says Siegfried Hofreiter, CEO of KTG Agrar SE. "We will also continue
the harvest phase, which we initiated in 2014. A growing contribution is
being made by our still young food division, which outperformed in the
first four months of 2015." In the 2014 financial year, KTG Agrar improved
its equity ratio from 15.2% to 16.5% - and it is still rising. Siegfried
Hofreiter: "Additionally, we have considerable hidden reserves as a result
of the successful investment phase. The roughly 6,000 hectares of land we
own alone include hidden reserves which more or less correspond to the
total equity capital of EUR 113 million posted at the end of 2014."
As a result of the capital increase, which still needs to be recorded in
the Commercial Register, the share capital will rise from EUR 6,243,600 to
EUR 6,750,000.
About KTG Agrar SE
With cultivable land of approx. 45,000 hectares, KTG Agrar SE (ISIN:
DE000A0DN1J4) is one of the leading producers of agricultural commodities
in Europe. As an integrated supplier, the company produces agricultural
commodities and renewable energy and food. The Hamburg-based company's core
area of expertise is the organic and traditional cultivation of market
products such as cereals, potatoes, soy and rapeseed. For organic market
products KTG Agrar is the European market leader. The company mainly
produces in Germany but has also operated production in the EU member state
of Lithuania since 2005. As a result of the takeover of Frenzel
Tiefkühlkost and Bio-Zentrale Naturprodukte, KTG has expanded the value
chain by the production of food since 2011. In the year 2014, KTG achieved
a total output of EUR 297.7 million and EBIT of EUR 37.1 million. Since
November 2007 the company is listed on the Frankfurt Stock Exchange and had
more than 1,000 employees at year end of 2014. Further information can be
found at www.ktg.ag
Kontakt:
Investor Relations / Presse
Fabian Lorenz
MC Services AG
Tel: +49 211 529252 28
[email protected]
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01.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP 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: KTG Agrar SE
Ferdinandstr. 12
20095 Hamburg
Germany
Phone: +49 (0)40-303 76-47
Fax: +49 (0)40-303 76-799
E-mail: [email protected]
Internet: www.ktg-agrar.de
ISIN: DE000A0DN1J4, DE000A1H3VN9, DE000A1ELQU9, DE000A11QGQ1,
WKN: A0DN1J , A1H3VN, A1ELQU, A11QGQ
Indices: HASPAX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich (m:access), Stuttgart; Open Market (Entry
Standard) in Frankfurt
End of News DGAP News-Service
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