EQS-News

H&K AG strengthens liquidity and equity base through debt-equity swap

EQS-News: H&K AG / Key word(s): Capital Increase H&K AG strengthens liquidity and equity base through debt-equity swap 23.05.2023 / 16:16 CET/CEST The issuer is solely responsible for the content of this announcement. H&K AG / Heckler & Koch

NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS RELEASE.

 

PRESS RELEASE       Oberndorf a.N., May 23, 2023

 

H&K AG strengthens liquidity and equity base through debt-equity swap

As already announced, H&K AG was able to successfully implement the rights issue published on April 23, 2023, including the associated debt-equity swap. As part of the capital increase, the repayment claims of two major shareholders from the shareholder loans they granted were contributed as contributions in kind and thus converted into (commercial) equity of the Company.

In the course of the capital increase, the Company's share capital was increased by a total of EUR 7,841,864.00 to a total of EUR 35,482,784.00 by issuing 7,841,864 new no-par value bearer shares in the Company. The capital increase was entered in the commercial register on May 17, 2023. The new shares were included in the existing price fixing on Euronext Access Paris on May 19, 2023.

"We would like to thank all shareholders for their participation in the capital increase and the confidence they have thus shown in the Company," announced CFO Dr. Björn Krönert.

The gross proceeds from the capital increase (excluding contributions in kind) amount to a total of EUR 10.1 million. The Company intends to use the net proceeds from the capital increase for investments in production facilities and infrastructure at its site in Oberndorf am Neckar.

"The capital measure was a complete success" continued Krönert. "Overall, the subscription rate for all new shares offered was 99.3%. This significantly exceeded our expectations. Both the significant improvement in the equity base as a result of the conversion of the shareholder loans and the new cash received by the Company will enable the Company in the coming periods to continue on the successful course of recent years."