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BRAIN AG. (6/3/20). "Press Release: BRAIN AG Resolves on a Cash Capital Increase from Authorised Capital".

Organisations Organisation BRAIN Biotechnology Reserarch and Information Network AG (FSE: BNN)
  Group BRAIN (Group)
  Organisation 2 SEVERAL
Products Product industrial biotechnology
  Product 2 investment banking
Index term Index term BRAIN–SEVERAL: investment, 202006 private placenment €14.94m with 1.8m new shares at €8.3/share
Person Person Konle, Stephanie (BRAIN 202002– Managing Associate Corporate Communications before Weka Business Medien + Merck)
     


The Management Board of B.R.A.I.N. Biotechnology Research and Information Network AG today has resolved, with the approval of the Supervisory Board, to increase the Company’s share capital against cash contribution.

The Company’s share capital shall be increased against cash contribution by issuing new registered shares with no par value. Each such share has a notional value of EUR 1.00 of the Company’s share capital (the “New Shares”). The company targets proceeds of approximately EUR 13 million. The share capital is to be increased through partial utilization of the existing authorized capital pursuant to Section 5(2) of the Company’s Articles of Association (the “Capital Increase”). The statutory subscription rights of the Company's shareholders were excluded pursuant to Sections 203 (1), 186 (3) sentence 4 of the German Stock Corporation Act (AktG). The New Shares will carry full dividend rights for the fiscal year 2019/2020 beginning on October 1, 2019.

The Company intends to use the net proceeds from the Capital Increase to improve the efficiency in enzymes production, to accelerate R&D for product development and to make smaller acquisitions that strengthen the company.

The New Shares will be offered for purchase in a private placement by way of an accelerated bookbuilding.


About BRAIN

B.R.A.I.N. Biotechnology Research and Information Network AG (BRAIN AG; ISIN DE0005203947 / WKN 520394) is one of Europe’s leading technology companies in the field of industrial biotechnology, the core discipline of Bioeconomy. As such, BRAIN identifies previously untapped, efficient enzymes, microbial producer organisms or natural substances from complex biological systems that can be put to industrial use. The innovative solutions and products developed by help of this “Toolbox of Nature” are successfully applied in the chemistry, the cosmetics and the food industries. BRAIN’s business model is based on two pillars. The BioScience segment comprises mainly of the research and development business with industrial partners (the “Tailor-Made Solutions” cooperation business), and the company’s own research and development. The BioIndustrial segment consists mainly of the industrially scalable products business. Further information is available at www.brain-biotech.com.


Disclaimer

This press release contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the management of BRAIN AG and are based on information currently available to the management. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. There are numerous factors which could influence the future performance by and future developments at BRAIN AG and the BRAIN group of companies. Such factors include, but are not limited to, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. BRAIN AG does not undertake any obligation to update or revise any forward-looking statements.


Media Contact

Dr. Stephanie Konle
pr@brain-biotech.com
+49 (0)6251-9331-70

   
Record changed: 2020-06-24

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