Company press releases
31 Oct 2007
Zapf Creation AG successfully completes capital increase against cash contributions
- Inflow of funds is an important element of the Company's
long-term financing package
Roedental, Germany, October 31, 2007 - Zapf Creation AG, Europe's leading manufacturer of play and functional dolls, has successfully completed its previously announced cash capital increase from authorized capital.
A total of 3,200,002 no-par bearer shares ("New No-Par Shares") were issued to the Company's shareholders against cash contributions during the subscription period from October 12 to 26, 2007. The subscription price was EUR 3.16 per New No-Par Share. The New No-Par Shares are entitled to participate in profits from January 1, 2007.
The shareholders of Zapf Creation AG exercised approximately 75 percent of the subscription rights. The remaining 25 percent of the New No-Par Shares were purchased by the Company's major shareholders - MGA Entertainment, Inc. and companies and persons affiliated with it, and Mr. Nicolas Mathys - at a price equivalent to the subscription price. Prior to the capital increase, the major shareholders had undertaken to guarantee the placement of up to 3,200,002 New No-Par Shares.
As a result of the successful completion of the cash capital increase, the share capital of Zapf Creation AG has increased from EUR 8,799,998 to EUR 12,000,000. The capital increase was recorded in the Commercial Register today. The total proceeds for the Company before deducting transaction-related expenses were EUR 10.1 million. This cash inflow is an important element of the long-term financing package of Zapf Creation AG.
Further information:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: +49 (0) 54 04 - 91 92 0
Fax: +49 (0) 54 04 - 91 92 29
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