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15.09.2004
Intershop Communications AG announces capital increase
Private Placement is expected to increase available cash by EUR 1,6 million Jena, Germany – September 15, 2004. Intershop Communications AG (Prime Standard:
ISH1; "Intershop" or "the Company") today announced that the Company's Executive Board (Vorstand) and Supervisory Board (Aufsichtsrat) have today resolved to increase the share capital by up EUR 1.6 million by issuing up to 1,6 million new Intershop Communications AG common bearer shares (“New Shares”) from authorized capital. The shareholders’ subscription rights will be excluded. VEM Aktienbank AG will be admitted to subscribe the New Shares at a price of Euro 1.00 per share. Pricing is based on the average XETRA daily closing price at the Frankfurt Stock Exchange in a ten banking day reference period preceding the resolutions. Through this private placement Intershop expects to raise up to EUR 1.6 million to strengthen its available cash funds.
"Upon completion, this capital increase will strengthen Intershop's equity position and provide the Company with additional flexibility for financing its ongoing business. Overall, this action will increase Intershop's freely available cash. We are convinced that this will send a positive message to our shareholders, customers, and partners," said Dr. Jürgen Schöttler, Chief Executive Officer and Chairman of Intershop's Executive Board.
The new shares are expected to increase the total number of Intershop issued and outstanding shares by 6.7 percent, from 23,951,412 to 25.551.412. Consequently, the Company expects this rights issue will be dilutive to consolidated earnings per share.
Investor Relations:
Annett Körbs
T: +49-3641-50-1370
F: +49-3641-50-1309
ir@intershop.de
Public Relations:
Dr. Ute Danz
T: +49-3641-50-1000
F: +49-3641-50-1002
pr@intershop.de
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