MOLOGEN has placed Capital Increase
MOLOGEN AG has placed shares from a capital increase by 10% against cash deposit with institutional investors. The capital increase and the respective changes in the articles of association were registered at the commercial register as of December 20, 2004. The company has received EUR 1,155,000 in cash.
The shares were issued at a price of EUR 2.10 per share. The price was determined as the average of closing prices of the MOLOGEN share for the last ten trading days until December 1, 2004, at the Geregelter Markt of the Frankfurt Stock exchange with a premium of 8%. The executive board on December 2, 2004, with approval of the supervisory board as of December 9, 2004, made use of its granted rights according to §4 (authorized capital) of the articles of association, and issued 550,000 new owner shares against cash deposit with the exclusion of preemptive rights of the shareholders. The subscribed capital of the corporation was consequently increased to EUR 6,172,331.
MOLOGEN CEO Prof. Burghardt Wittig states: "The premium is indicative for the current great appeal of our shares to investors. We are very glad to have strengthened once again our financial position and to have found new institutional investors."
MOLOGEN uses its proprietary DNA technologies to create and develop treatments for high-unmet-need illnesses. The main focus are the unique and patented MIDGE and dSLIM technologies. Based on these platforms, MOLOGEN is developing DNA-based vaccines and therapeutics to prevent or cure a wide range of diseases.
Going public in 1998, MOLOGEN was one of the first German biotechnology companies to be floated on the stock exchange. The MOLOGEN shares are traded on the Geregelter Markt in Frankfurt.
Contact: Matthias Reichel
Phone: +49-30-84 17 88 - 0
Fax: +49-30-84 17 88 - 50
e-mail: [email protected]