18.06.2008
DVB Bank about to close capital increase
Based on decisions by the Board of Managing Directors and the Supervisory Board of DVB Bank AG, DVB' s share capital has been increased by EUR16,974,890.46, from EUR101,817,054.66 to EUR118,791,945.12, via the issue of 664,000 new notional no-par value bearer shares ("unit shares") against cash.
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt/Main, will underwrite the new shares, with the obligation to offer them to shareholders of DVB Bank AG for indirect subscription, between 24 June 2008 and 8 July 2008, at a subscription ratio of 1 to 6 and at an issuing price of 225.00 EUR per share. Exchange trading in the new shares at the Frankfurt Stock Exchange is expected to commence in mid-July 2008. The new shares will carry full dividend rights from 1 January 2008.
Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors of DVB Bank AG, commented: "The purpose of this capital increase is to retain our ability to exploit opportunities for growth. At the same time, we want to be prepared for a potential rebound of the US dollar: as 79% of our overall credit portfolio is denominated in US dollars, such a recovery would lead to an immediate decrease in our capital ratios, which would curtail our opportunities to generate business. Owing to the strong growth in our lending business, our capital ratios declined over the past four years – despite dollar weakness and the fact that we retained profit to the highest possible extent: EUR240.7 million during that period, and as much as EUR89.3 million in the last year. Our total capital ratio as at 31 March 2008 was 9.6%. Naturally, during these times of greater uncertainty for financial institutions, we would like to strengthen our capital base."
Further details regarding the share capital increase were published as ad-hoc disclosures on 10 April 2008, 11 June 2008, and 18 June 2008. The Prospectus (Wertpapierprospekt) will be available for download on DVB's website (www.dvbbank.com) immediately after approval is received from the German Federal Financial Supervisory Authority ("BaFin"). The offer will be published in the electronic Federal Gazette (elektronischer Bundesanzeiger) and in the German exchange gazette ("Börsen-Zeitung").
For all details regarding the capital increase, please contact:
Elisabeth Winter, Manager Investor Relations - elisabeth.winter@dvbbank.com
Phone +49 69 97504-329 – Fax +49 69 97504-333
Note to Editors:
DVB Bank AG, based in Frankfurt/Main, is an international advisory bank and finance house that specialises in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, Hong Kong, New York and Curaçao. DVB Bank AG is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501).
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt/Main, will underwrite the new shares, with the obligation to offer them to shareholders of DVB Bank AG for indirect subscription, between 24 June 2008 and 8 July 2008, at a subscription ratio of 1 to 6 and at an issuing price of 225.00 EUR per share. Exchange trading in the new shares at the Frankfurt Stock Exchange is expected to commence in mid-July 2008. The new shares will carry full dividend rights from 1 January 2008.
Wolfgang F. Driese, CEO and Chairman of the Board of Managing Directors of DVB Bank AG, commented: "The purpose of this capital increase is to retain our ability to exploit opportunities for growth. At the same time, we want to be prepared for a potential rebound of the US dollar: as 79% of our overall credit portfolio is denominated in US dollars, such a recovery would lead to an immediate decrease in our capital ratios, which would curtail our opportunities to generate business. Owing to the strong growth in our lending business, our capital ratios declined over the past four years – despite dollar weakness and the fact that we retained profit to the highest possible extent: EUR240.7 million during that period, and as much as EUR89.3 million in the last year. Our total capital ratio as at 31 March 2008 was 9.6%. Naturally, during these times of greater uncertainty for financial institutions, we would like to strengthen our capital base."
Further details regarding the share capital increase were published as ad-hoc disclosures on 10 April 2008, 11 June 2008, and 18 June 2008. The Prospectus (Wertpapierprospekt) will be available for download on DVB's website (www.dvbbank.com) immediately after approval is received from the German Federal Financial Supervisory Authority ("BaFin"). The offer will be published in the electronic Federal Gazette (elektronischer Bundesanzeiger) and in the German exchange gazette ("Börsen-Zeitung").
For all details regarding the capital increase, please contact:
Elisabeth Winter, Manager Investor Relations - elisabeth.winter@dvbbank.com
Phone +49 69 97504-329 – Fax +49 69 97504-333
Note to Editors:
DVB Bank AG, based in Frankfurt/Main, is an international advisory bank and finance house that specialises in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, Hong Kong, New York and Curaçao. DVB Bank AG is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501).