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Capital measures/Financing, Stock Offerings (IPO)/Prospectus approved
Grünwald (euro adhoc) – Tantalus Rare Earths AG plans capital increase of up to EUR 10.5 million as BaFin approves prospectus
- Prospectus approved by BaFin – Cash capital increase with subscription rights by issuing up to 350,000 new shares – Publication of the prospectus provides transparency – Specifications met for the primary market listings of Dusseldorf Stock Exchange
Gruenwald, 28 March 2013 – Tantalus Rare Earths AG (TRE AG) announces the approval of its prospectus (submitted on 27 of March 2013) in relation to the existing company with its 2,350,966 shares (DE000A1TNXS3, WKN A1TNXS ISIN) by the German Federal Financial Supervisory Authority (BaFin) together with the right to issue up to a maximum of 350,000 new shares (ISIN DE000A1MMFF4, WKN A1MMFF).
The Company intends to raise a total of EUR10.5m by way of a capital increase against cash contributions with subscription rights. For this purpose, up to 350,000 new no-par bearer shares will be issued. The capital increase was approved by the Executive Board and Supervisory Board of TRE AG based on the resolution passed at the General Meeting of 31 August 2011.
The new shares will be offered to the shareholders of the Company by Schnigge Wertpapierhandelsbank AG, Duesseldorf (“Schnigge”) in a ratio of 6:1. The subscription price is not fixed yet, but will be fixed no later than five days before the subscription trading period ends, which is expected to be on the 17 April 2013. The subscription price will be published on the website of TRE AG (www.tre-ag.com) as well as by way of a corporate news release. The subscription price is expected to be between EUR20 and EUR30 per new share. Unsubscribed shares will be placed directly after the end of the subscription period and by way of private placement.
Bankhaus Gebr Martin AG, 73033 Göppingen will deal with the technical aspects of the subscription rights for new shares on behalf of Schnigge. No stock exchange trading in subscription rights will take place.
The Company expects capital gross proceeds of between 7.0 and 10.5 million euros. The Company intends to use the net proceeds from the offering as working capital of the Tantalus group, ie to invest in the exploration activities in the Tantalus project in Madagascar.
More details can be found in the prospectus (which is currently only in German) on the website of the Company (www.tre-ag.com) in the “Investors Relations / Reports” section.
Publication of the prospectus provides the shareholders and potential investors of TRE AG with greater transparency, and accordingly access to additional capital. At the same time it provides its shareholders and all other interested investors with an objective information base.
The prospectus is also used to fulfill the requirements that enable the Company to continue to trade its shares in the primary market of the Düsseldorf Stock Exchange as it committed to do (see press release of December 4, 2012).
CEO Jürgen Schillinger: “With the approval of our prospectus, the Company is unconditionally listed on the primary market of the Dusseldorf Stock Exchange; at the same time we have gained access to a new group of investors and other financing options. The completion of the prospectus is an important step for the Company as it represents a new level of transparency. As previously announced, TRE AG intends shortly to request a change to the regulated market.
About Tantatalus Rare Earths AG: TRE AG is a German holding company, which, through its subsidiary, holds a 100% interest in a rare earths exploration project in north west Madagascar. The shares of TRE AG are listed on the primary market of the Dusseldorf Stock Exchange.
Disclaimer: This announcement is neither an offer to sell nor an invitation to subscribe for securities. This notice does not constitute a securities prospectus. This notice and the information contained within is not intended for direct or indirect distribution within the United States of America, Japan or Canada and certainly not to any U.S. person as defined in Regulation S under the U.S. Securities Act (the “Securities Act”) of 1933, as amended.
Further inquiry note: Juergen Schillinger, Chief Executive OfficierTel: +49 (0) 89 693 960 66Mobil: +49 (0) 151 115 489 06Email: schillinger@tre-ag.comwww.tre-ag.com David Rigoll, DirectorTel: +44 7500 068555Email: rigoll@tre-ag.com Paul WeighBlythe Weigh CommunicationsTel: +44 (0) 20 71383204oder +44 (0) 7989 129658
end of announcement euro adhoc
company: Tantalus Rare Earths AG Nördliche Münchner Str. 16 D-82031 Grünwald phone: +49 (0)89 693 960 66 FAX: +49 (0)89 693 960 68 mail: contact@tre-ag.com WWW: www.tre-ag.com sector: Holding companies ISIN: DE000A1MMFF4 indexes: stockmarkets: free trade: Düsseldorf language: English
Quelle: presseportal.de finanzen