HeidelbergCement’s decision to implement capital increase
The Managing Board of HeidelbergCement AG has resolved, subject to the consent of the Supervisory Board, to make use of the authorised capital and to implement a cash capital increase with a view to strengthen the company’s equity base.
VEM Vermögensverwaltung GmbH, Dresden/Germany, a Merckle group company, will subscribe new shares at a close to stock market subscription price. The new shares are entitled to receive dividends for the entire business year 2007.
The subscription rights for existing shareholders will be excluded. By this capital increase, the company expects cash proceeds of approximately EUR 500m shortly. The proceeds will be used to refinance current debts. The completion of the capital increase and the announcement of the conditions are expected to be made by mid of February. Published under Cement News
