Tantalus Rare Earths AG: Capital Increase
14.01.2014 | DGAP
- Authorized Capital 2013 has been utilized in an amount of up to EUR 184,766.00- Capital Increase has been executed in an amount of EUR 100,000.00
Grünwald, 14 January, 2014. The Management Board and the Supervisory Board have utilized the Authorized Capital 2013 pursuant to Sec. 4 para. 6 of the Articles of Association of Tantalus Rare Earths AG in an amount of up to EUR 184,766.00 against cash contribution. In total, 184,766 non par value name shares with a pro-rata amount of the registered shared capital of EUR 1.00 have been issued. The issuance price for the new shares amounts to EUR 20.00 per share. The new shares have been issued with the entitlement to dividends as from 1st January 2013.
Pursuant to Sec. 4 para. 6 lit. bb) of the Articles of Association, the Management Board and the Supervisory Board have resolved to exclude the subscription rights of the shareholders, because the issuance price of the new shares significantly exceeds the market price of the shares already listed on the stock exchange and the utilization of the Authorized Capital does not exceed the volume of 10% of the registered share capital, neither at the time of granting the authorization on 20th September 2013, nor at the time of registration of the authorization with the Commercial Register on 12th November 2013, nor at the time of the utilization of the Authorized Capital 2013.
At the moment, the capital increase based on the Authorized Capital 2013 has been executed in an amount of EUR 100,000.00 and the Company expects further executions to take place during the coming weeks.
The registered share capital of Tantalus Rare Earths AG now amounts to EUR 2,464,370.00.
CEO Mr. Thomas Hoyer comments: We are very pleased to inform about the successful placement of new shares with substantial premium compared to the existing share price. This is a great sign of confidence towards the Company and towards the prospects of the Tantalus shares. When the complete placement of 184,766 new shares has been executed, the Company has successfully raised approximately EUR 3.6 million after the costs and expenses relating to the issue.
Tantalus Rare Earths AG
Board of Directors
About Tantalus Rare Earths AG:
TRE AG is a German holding company, which, through its subsidiary, holds a 100% interest in a rare earths exploration project in North West Madagascar. The shares of TRE AG are listed on the primary market of the Dusseldorf Stock Exchange.
Further inquiries:
Tantalus Rare Earths AG
Thomas Hoyer, CEO
Tel: 00 49 1512 401 7229
Thomas.hoyer@tre-ag.com