ADC African Development Corporation AG
ADC announces a ten percent capital increase from authorized capital ++ Strategic investor signs private placement
ADC African Development Corporation AG / Key word(s): Capital Increase 30.07.2013 18:47 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ADC African Development Corporation AG (ADC), ISIN DE000A1E8NW9, announces an increase in its share capital. With the approval of the Supervisory Board, Management has decided to increase the current share capital of EUR 8,606,764.00 through the partial utilization of existing authorized capital by almost 10%, issuing 860,676 new registered shares and reaching a new share capital of EUR 9,467,440.00. A strategic investor subscribed to all the shares at EUR 9.50 per share in a private placement, raising EUR 8.2 million for ADC. The capital increase was undertaken by cash contribution and did not exceed 10% of the existing share capital; subscription rights by existing shareholders have, therefore, been excluded pursuant to § 186 para. 3 sentence 4 German Stock Corporation Act (AktG) in order to utilize the authorized capital which expires on 31 July 2013. Dirk Harbecke, CEO of ADC commented: 'We are very proud to have found a new strategic investor, who committed to support our growth story. Management and the Supervisory Board are happy to have completed the capital increase that gives ADC more financial flexibility. ADC's new shareholder and partner is committed to support ADC in its planned rights issue that will be put forward for a vote at the Annual General Meeting on 14 August 2013.' About ADC ADC African Development Corporation (ADC) (ISIN: DE000A1E8NW9; Bloomberg: AZC.GR, www.african-development.com), is a German listed, emerging pan-African banking group. ADC has a strong footprint in Southern Africa via BancABC, a regional commercial banking platform operating in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe as well as in West Africa via Union Bank of Nigeria. Parallel to its banking operations, ADC has a private equity portfolio active in growth markets across sub-Saharan Africa. ADC follows an active management approach with a team of experts that comprise operational banking management, investment banking and merchant banking expertise. ADC optimizes its risk-return profile through a political risk insurance solution offered by the MIGA (World Bank Group). Contact: Investor Relations investor-relations@african-development.com T +49 69 719 12 80 119 30.07.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ADC African Development Corporation AG Grüneburgweg 18 60322 Frankfurt/Main Germany Phone: +49 69 719 12 80 119 Fax: +49 69 719 12 80 999 E-mail: info@african-development.com Internet: www.african-development.com ISIN: DE000A1E8NW9 WKN: A1E8NW Listed: Freiverkehr in Berlin, Düsseldorf; Frankfurt in Open Market (Entry Standard) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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