The Company’s share capital shall be increased against cash contribution by issuing new registered shares with no par value. Each such share has a notional value of EUR 1.00 of the Company’s share capital (the “New Shares”). The company targets proceeds of approximately EUR 13 million. The share capital is to be increased through partial utilization of the existing authorized capital pursuant to Section 5(2) of the Company’s Articles of Association (the “Capital Increase”). The statutory subscription rights of the Company's shareholders were excluded pursuant to Sections 203 (1), 186 (3) sentence 4 of the German Stock Corporation Act (AktG). The New Shares will carry full dividend rights for the fiscal year 2019/2020 beginning on October 1, 2019.
The Company intends to use the net proceeds from the Capital Increase to improve the efficiency in enzymes production, to accelerate R&D for product development and to make smaller acquisitions that strengthen the company.
The New Shares will be offered for purchase in a private placement by way of an accelerated bookbuilding.