Company Releases
Here you can find the company's latest financial Press Releases.
05 Jun 2008
Zapf Creation AG: Subordinate shareholder loans fully converted into equity
- Share capital strengthened further
- Long-term financing concept implemented
Roedental, June 5, 2008 - Zapf Creation AG, Europe's leading manufacturer of play and functional dolls today announced that its Management Board, as planned and previously announced, resolved to convert into equity all outstanding subordinate shareholder loans, including accrued interest, amounting to € 5.0 million by way of a capital increase against in-kind contributions. The Management Board's decision was made on May 29 and approved by the Supervisory Board on June 5. For the purpose of converting the loans into equity, a total of 1,295,853 new shares will be issued by utilizing part of the new Authorized Capital created at the Annual Shareholders' Meeting on May 27, 2008. The amount in shareholder loans to be contributed per new share is € 3.86.
The non-cash capital increase will lift the share capital of Zapf Creation AG
by € 1,295,853, from € 18.0 million to approx. € 19.3 million. The capital increase is to be recorded in the commercial register on June 11, 2008. This measure will significantly reduce the Zapf Creation Group's future interest expense.
As a result of the conversion, the percentage of the share capital held by the Group's major shareholders MGA Entertainment, Inc. or its shareholders ("Trusts") and Mr. Nicolas Mathys will increase to 44.44% and 19.45%, respectively.
The full conversion of the shareholder loans into equity completes the implementation of the Group's long-term financing concept that was agreed between Zapf Creation, its major shareholders and an international consortium of banks on July 20, 2007.
Jens U. Keil, member of the Management Board of Zapf Creation AG, comments: "By converting the remaining shareholder loans into equity, we have completed the final step in the implementation of the Group's long-term financing. Zapf Creation has been put back on a solid financial basis. We can now focus our attention on sustainably strengthening Zapf Creation's worldwide market position in the long term through attractive products."
Further information:
Frank Elsner/Jens Heinen
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 (0) 54 04 - 91 92 0
Fax: + 49 (0) 54 04 91 92 29
Zapf Creation AG is Europe's leading manufacturer of play and functional dolls with accessories. Among Zapf Creation's best known brands are Germany's best-selling functional doll BABY born®, 15 million of which have been sold worldwide since 1991, plus Baby Annabell® and CHOU CHOU. All these branded toys have in common the highest standards of design, quality, safety and play value. Headquartered in Rödental, Germany, Zapf Creation was founded by Max Zapf in 1932 and went public in April 1999 (ISIN 0007806002).
- Download as PDF ( 0,03MB )