(June 13, 2002) strategic partnership and additional cash inflow
Hamburg, 13 June 2002. The wine-trading group Hawesko Holding AG (HAW.GR, HAWG.F, DE0006042708) has transferred all of its treasury shares (approximately 5 % of total capital) to the International Wine Investment Fund (IWI.AX) of Adelaide, South Australia, which is listed on the Australian Stock Exchange. The fund already held approximately 2 % of Hawesko; with this increase its shareholding now totals approximately 7 %. The transfer has been effected at current share-price levels; as a result Hawesko will realize an additional cash inflow from the transaction of between Euro 5.5 million and Euro 6 million.
At today's annual shareholder meeting in Hamburg, Hawesko Chief Executive Officer Alexander Margaritoff commented: "We are pleased that the Wine Fund - the largest international public fund specializing in wine investments - has documented its confidence in Hawesko and in our market with the acquisition of this block of shares. In turn, with the Wine Fund as a strategic partner, new business prospects will open up for us."
The International Wine Investment Fund invests exclusively in companies involved in the production and distribution of wine. For historical reasons the emphasis in its portfolio is on shareholdings of Australian companies. For two years now the fund's horizon has expanded to the worldwide market of premium-quality wine; its shareholdings now extend to companies in the USA and in Europe. "The global market for premium wines is showing growth and is in a period of transition" said Chris Day, Chief Executive Officer of the fund. "Hawesko shares the same vision with us and is excellently positioned in one of the most important markets for fine wines in Europe."
The Hawesko shareholders' meeting voted to pay out a dividend of Euro 1.15 per share (last year: Euro 0.84). It also voted in Dr. Thomas R. Fischer as a new member of the Supervisory Board. Other proposals and resolutions were passed, too: these concern new approved capital, a new authorization to buy back shares as well as various changes in the company's statutes, in particular to accomodate changes according to recently passed legislation in Germany (the "NaStraG" law).
Hawesko Holding AG is a leading seller of premium wines and champagnes in Germany. Through its three distribution channels - mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), stationary specialist retail (Jacques' Wein-Depot) and wholesale (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) - the Group achieved sales of Euro 264 million in fiscal year 2001. The Group employs 520 people.
# # #
Further information about the International Wine Investment Fund is available on the Internet at http://www.iwif.com.au/
Published by:
Hawesko Holding AG
P.O. Box 20 15 52
20205 Hamburg
Germany
Internet:
http://www.hawesko.com (corporate site)
http://www.hawesko.de (online shop)
Press/Media:
Vera Maria Bau, VMB Consulting
Tel. +49 (0)2244 91 27 36
Fax +49 (0)2244 91 27 38
e-mail: vmb@nsag.de
Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Tel. +49 (0)40 30 39 21 00
Fax +49 (0)40 30 39 21 05
e-mail: ir@hawesko.com