Executive committee of CFC Industriebeteiligungen AG decides capital increase through contribution in kind

In accordance with § 6 of the Articles of the Association the supervisory board of CFC Industriebeteiligungen AG (ISIN: DE000A0LBKW6), Dortmund (hereinafter “CFC”) today authorized the managing directors’ decision to increase the nominal share capital of the company under exclusion of subscription rights of shareholders pursuant to § 6 b) of the Articles of the Association from EUR 6,435,000.00 by EUR 2,012,590.00 to EUR 8,447,590.00. The increase in capital will be made through contribution in kind. 

The new shares fully qualify for dividends for the financial year of 2010. The new shares in the company will be subscribed for by FAM Figlio Asset Management GmbH (“FAM”) in the issue amount of EUR 1.81 (average price of the last 5 trading days) per share. In return, FAM will transfer to CFC its silent participation in ELCON Systemtechnik, which represents an economic participation of 18.6 percent, through contribution in kind.

Therefore, the directly and indirectly held participation of CFC Industriebeteiligungen AG in ELCON increases to 60.1 percent.

The valuation of the contribution in kind is based upon an independent assessment which confirmed the intrinsic value at the above stated issue amount.

The contributed participation used to be the management participation in ELCON of the two managers Markus Königshofer and Werner Neubauer, who is also an executive board member at CFC.

By means of this transaction, CFC was able to further expand the already existing prosperous participation in ELCON Systemtechnik GmbH at favorable conditions, by which CFC will benefit even more from the positive developments at ELCON. 

Simultaneously, the bond between the executive board member Werner Neubauer and CFC has been reinforced. By means of the contribution, Werner Neubauer has increased his share in CFC from 3.5 to 18.6 percent, which underlines his trust in the sustainable prosperity of CFC.