JoWooD Productions Software AG
JoWooD Prod. Software english
Capital increase accelerates rise to top European league
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Capital increase accelerates rise to top European league
Conditions for further profitable growth created
– Up to 2,400,000 new shares and 305,016 old shares from scheduled exit of early
stage investor march.fifteen offered for subscription and sale from 5 to 19
June
– Capital increase to speed up entry into rapidly growing console market and
intensify development activities for online gaming market
– Greater liquidity of shares by increasing percentage of free float to 60%
– Lead manager CA IB as for IPO
Vienna / Rottenmann, 5 June 2002. JoWooD Productions Software AG, a leading
publisher of high-quality computer games in the German-speaking countries listed
on the Vienna Stock Exchange, is about to carry out a capital increase. Apart
from financing the recently agreed takeover of the operations of Ravensburger
Interactive, this move will above all enable JoWooD to play an active role in
the concentration process within the industry. Details of the planned
transaction will be announced at a press conference today.
In a combined offering consisting of a subscription and a purchase offer, up to
2,400,000 new shares and 305,016 old shares held by early stage investor
march.fifteen with a nominal value of EUR 1 each will be offered until 19 June
at the latest. Under the terms of the rights offer, existing shareholders will
be entitled to two new shares for every five shares held. Subscription rights
will not be traded on the stock exchange. Any subscription rights not properly
exercised under the subscription offer and the shares previously held by early
stage investor march.fifteen will be offered for sale to the public in Austria,
and internationally (with the exception of the USA, Canada and Japan) in
private placements. Should the issue be oversubscribed, further shares
amounting to up to 15% of the subscription offer now held by the founder
shareholders will also be offered for sale.
The subscription and offer price will be determined by means of bookbuilding,
and will be fixed at the end of the subscription or offer period. A maximum
subscription price of EUR 11 per share has been laid down for the subscription
offer. The subscription price will be the same as the offer price. Since the
volume of the offer is significantly larger than the current free float, and
the liquidity of the shares was previously very low, the pricing of the offer
will be dependent on the results of bookbuilding. The subscription and offer
price will probably be announced on 19 June. The offer is being carried out
under the lead management of CA IB.
end of ad-hoc-announcement (c)DGAP 05.06.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Part of the issue proceeds will be used to finance the acquisition of the games
developments of Ravensburger Interactive agreed upon in mid May. These will be
coming to the market in the course of the next two years. The high quality game
titles taken over from Ravensburger include the console version of the
underwater action hit Aquanox for the PlayStation 2, and the PC games Arx
Fatalis and Wildlife Park. These attractive additions to the title portfolio are
expected to make a significant contribution to results even in the financial
year 2002.
At the same time, JoWooD will also step up its development of product and basic
technology in the area of online gaming. This area will start generating
revenues only from 2004 on and it is of key importance to JoWooD’s long-term
market position. Thanks to its timely investment in this sector, the JoWooD
Group will be able to position itself as a competent multiplatform provider,
and be better able to exploit the potential of its efficient distribution
network and its internationally highly regarded brands.
The proceeds from this capital increase will also be invested in the project
financing of new games developments for PCs and consoles. JoWooD intends to step
up development activities in its own studios and also to take over games
packages from other companies. As one of the leading publishers in the German-
speaking world, JoWooD is very well positioned to achieve attractive
transactions. Thanks to its existing infrastructure, JoWooD should be able to
benefit from these developments chiefly in the form of revenues.
Since taking over the games developments of Ravensburger Interactive in mid May,
JoWooD has reached the size that the company will require for its successful
involvement in the international market for entertainment software. The improved
capital structure resulting from this capital increase will enable the company
to take advantage of selective acquisition opportunities to the extent that
these make sense in terms of its profits-oriented growth strategy.
Further Information:
Uwe Deisenhammer, CFO / Kristine Fessler-Brandl, Investor Relations
e-mail: investor@jowood.com
Tel. +43/3614/2966-1021 / Fax: +43/3614/2966-1023
http://www.jowood.com
A prospectus complying with the regulations of the Capital Markets Act has been
duly deposited with the reporting office of the Austrian Control Bank and
published in the official gazette of the Wiener Zeitung. It will be made
available to interested parties during normal business hours at the offices of
JoWooD Productions Software AG, Bahnhofstrasse 2, A-4802 Ebensee, of Bank
Austria AG, Vordere Zollamtstrasse 13, A-1030 Vienna, and Am Hof 2, A-1010
Vienna, and of Creditanstalt AG, Schottengasse 6, A-1010 Vienna. Only the
information contained in this prospectus is of relevance in the context of any
offering of the company’s securities.
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WKN: 074735; ISIN: AT0000747357; Index:
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, München,
Stuttgart
050818 Jun 02
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