10.03.2008 17:30:00 CET
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This press release may not be published, distributed, or transmitted either directly or indirectly in the United States, Canada, Japan, or Australia.
Touax announces a successful share issue, which raised €23.3m of capital to finance business development
Touax, one of the major global operators in the operational leasing market, announces the successful completion of its share issue with preferential rights for existing shareholders. A total of 779,576 new shares were issued at a price of €29.90 per share, at a ratio of one new share to five existing shares.
The share issue was 137 % oversubscribed.
The subscription orders consisted of:
- €22.96 m from preferential rights for new shares (or 98.51 % of the share capital); and
- €8.88 m from preferential rights for excess shares, which was reduced to €0.35 m.
By issuing €23 million in additional share capital on top of its bank facilities, the Group will be able to retain close to €80 million in new equipment for its own account, with the remainder of the investments sold to third parties under management over a medium term that has not yet been decided by management.
The new shares will be traded separately on Euronext Compartment B under ISIN code FR0010585232 until the dividend for fiscal 2007 is paid. Afterwards, they will be combined with existing Touax shares and trade under ISIN code FR0000033003.
The 200,000 stock warrants were fully subscribed, with 50,000 by Fabrice Walewski, 50,000 by Raphaël Walewski, and 100,000 by other senior managers who hold key positions within the company.
Touax meets the need for mobility and flexibility among business and local authorities and operates in four main areas: shipping containers, river barges, freight railcars and modular buildings. This share issue was prompted by greater visibility in the company's growth outlook, and will enable Touax to purchase new equipment and benefit from expansion in the company's main markets. The company believes that this move will improve its return on equity now and over the long-term.
Information for the public
The prospectus, which consists of the Touax Reference Document filed with the French Financial Markets Authority (AMF) on April 11, 2007 under No. D.07-0310, its update filed with the AMF on February 12, 2008 under No. D.07-0310-A01, and the offering circular dated February 12, 2008, was approved by the AMF on February 12, 2008 under Nº 08-029. The prospectus can be obtained free of charge from the Touax head office, the AMF website (www.amf-france.org), or the Touax website (www.touax.com).
Touax SCA draws the public's attention to the sections in the prospectus describing the risk factors of the Company, the Group, this public offering, and the securities that will be admitted for trading.
The offering circular was published in the French bulletin of mandatory legal notices (BALO) on February 15, 2008.
Press Contact
Sylvie Jovillard
Sylvie Jovillard Conseil
jovillard.conseil.sylvie@wanadoo.fr
+33 6 20 50 19 89
Investor Contacts
Touax Fabrice & Raphaël Walewski Managers touax@touax.com www.touax.com + 33 1 46 96 18 00
Actus Finance Samuel Beaupain sbeaupain@actus.fr www.actus.fr +33 1 53 67 36 49
Disclaimer
This press release may not be distributed directly or indirectly in the United States of America, Canada, Japan or Australia. It does not constitute an offering to sell transferable securities in the United States of America or in any other jurisdiction where the offering of transferable securities may be subject to restrictions. The shares, share subscription warrants and rights in the Company cannot be sold in the United States of America (as this term is defined by Regulation S of the 1933 U.S. Securities Act, as amended) in the absence of registration or a registration exemption under the 1933 U.S. Securities Act, as amended. Neither all or part of the offering mentioned in these documents shall be registered in the United States of America and nor shall any public offering to sell the shares, share subscription warrants or rights be conducted in the United States of America.
Issuance of this press release (this term including all forms of issuance) in the United Kingdom is subject to the restrictions provided for in Section 21 (restrictions on financial promotion) of the United Kingdom's Financial Services and Markets Act 2000 (hereinafter "FSMA"). This document is intended for and addressed solely to persons who (i) have the relevant professional experience ("investment professionals") provided for in Article 19 (5) of the FSMA (Financial Promotion Order) 2005, as amended (hereinafter the "Order"), (ii) are provided for in Article 49(2)(a) to (d) of the Order and (iii) are any other persons to whom this document may legally be provided (all these persons, with the Qualified Investors (as defined in the Prospectus Directive) are collectively called "Qualified Persons"). This document must not be used in the United Kingdom by persons other than Qualified Persons. All investments in the United Kingdom relating to this document must be offered or concluded with Qualified Persons. This document does not constitute a public offering of transferable securities in the United Kingdom, in accordance with an exemption provided for in the FSMA relating to offerings intended for a restricted category of Qualified Persons. On receiving this document, you must advise the Company that you form part of the aforesaid categories of persons.
Distribution of this release may be subject to specific legislation in certain countries. Persons in possession of this release should inform themselves of and comply with any local restrictions.