MIFA Mitteldeutsche Fahrradwerke AG approves capital increase and plans switch to Prime Standard

(lifePR) ( Sangerhausen, )
The Management Board of MIFA Mitteldeutsche Fahrradwerke AG has today approved, with Supervisory Board assent, a capital increase to finance future growth. The company is utilising the existing AGM authorisation of May 11, 2012 for this purpose. As part of a cash capital increase with indirect subscription rights, up to 1.6 million new shares are to be issued, corresponding to a EUR 1.6 million increase in the share capital from currently EUR 8.0 million to up to EUR 9.6 million. The transaction will be managed by Joh. Berenberg, Gossler & Co. KG ("Berenberg Bank") as Sole Global Coordinator and Sole Bookrunner. Equinet Bank AG and Süddeutsche Aktienbank AG act as selling agents.

MIFA has also already submitted an application for its entire share capital to be admitted to the Regulated Market with simultaneous admission to the Prime Standard on the Frankfurt Stock Exchange. The approval of the corresponding securities prospectus by the German Federal Financial Supervisory Authority (BaFin) is expected during the course of today. The Prime Standard listing will occur prospectively on July 17, 2012.

During the subscription period from June 29 until July 12, 2012, the new shares are to be offered to shareholders in a 5:1 subscription ratio. For every five old shares held, the subscription offer entitles the shareholder to subscribe indirectly for one new share.

Both of the company's main shareholders, Management Board member Peter Wicht and entrepreneur Carsten Maschmeyer, will assign all subscription rights to Berenberg Bank which are attributable to the shares they hold, and which entitle them to subscribe for a total of 1,024,473 new shares. Berenberg Bank will offer these shares already from today as part of a pre-placement to qualified investors in an accelerated bookbuilding procedure. MIFA aims to more broadly diversify its shareholder structure through the pre-placement, boost the free float, and support the shares' liquidity.

The placing price calculated as part of the pre-placement will also form the subscription price for the subscription offer. The subscription price will amount to a minimum of EUR 7.00 and a maximum of EUR 8.00. As part of the subscription offer, the subscription rights will also be traded on the open market of the Frankfurt stock exchange from June 29 until July 10, 2012 inclusive.

The company anticipates up to EUR 13.6 million of gross issue proceeds from the capital increase. MIFA aims to deploy the fresh capital primarily to finance its planned growth. Some of this growth is to be generated through opportunistic corporate acquisitions both in Germany and abroad. MIFA also plans to utilise the proceeds to optimise its working capital, further improve its logistics and production efficiency, and to further establish the GRACE brand.

The full subscription offer will be published prospectively on June 28, 2012 in the electronic Federal Gazette, on the company's website (www.mifa.de), and on June 29 in the Frankfurter Allgemeine Zeitung.

Issuer: MIFA Mitteldeutsche Fahrradwerke AG
Kyselhäuser Strasse 23
06526 Sangerhausen
ISIN: DE000A0B95Y8
WKN: A0B95Y
Stock exchanges: Berlin unofficial market, Hamburg, Munich (m:access), Stuttgart; Open Market in Frankfurt
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