DGAP-News

CEWE increases freefloat by placing shares

DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Corporate Action
CEWE increases freefloat by placing shares

09.04.2014 / 08:05

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CEWE increases freefloat by placing shares

- Proceeds of issue at approximately EUR 27 million

- Shares placed in only one hour

- Increasing freefloat complies with requirements of large institutional
investors

- Increased financial capacity enlarges strategic freedom

- Reduction of debts - increase of equity

Oldenburg, April 9, 2014 - Within one hour, CEWE Stiftung & Co. KGaA (SDAX,
ISIN: DE 0005403901) has placed yesterday 500,000 of its own shares (6.76%
of the share capital). The sale has been fully and successfully
completed. By way of an accelerated bookbuilding, the shares were offered
to qualified investors in Germany and Europe and placed at a price of EUR
54. CEWE's gross proceeds amount to approximately EUR 27 million. The
exchange of the shares against payment of the placement price is envisaged
for April 11, 2014.

Freefloat increases to 69.2%
"During the previous months, we were approached by institutional investors
informing us that an increased freefloat was an important precondition for
an investment. The trade volume has already grown by nearly 20% over the
course of 2013; this is, however, apparently not enough for numerous
investors. Due to this, we have decided to put our own shares on the market
in order to increase the freefloat", says Dr. Olaf Holzkämper, CFO CEWE
Group. He continues that this measure was reasonable for all shareholders
as only a part of the shareholdings was used as acquisition currency and,
by selling the shares, CEWE was not only able to increase the freefloat but
also to raise the equity ratio as well as reduce debts at the same time.
Following this placement, CEWE Stiftung & Co. KGaA now has a shareholding
of 205,667 in its own shares (2.8% of the equity capital). The freefloat
has now increased to 69.2%.

More strategic freedom
By selling the shares, the liquidity potential, i.e. available credit
facilities plus cash funds, augmented. Holzkämper welcomes the strategic
possibilities that have now increased: "By acquiring Saxoprint and thus
extending its business activities to online printing, CEWE has shown that
it is also capable of successfully pursuing inorganic development. In
addition to making our shares more attractive to large institutional
investors, the recent capital market measure has also provided an excellent