24.06.2009 18:00:00 CET
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TOUAX Success of rights issue
TOUAX today announced that its capital increase waiving preferential subscription rights but with priority for existing shareholders, launched on 18 June 2009 for a total of €17,851,519.76 (gross) through the issue of 936,596 new shares has been subscribed in its entirety. In fact, following partial application of the extension clause, 952,747 shares were placed or 101.72% of the issue; total proceeds were €18,159,357.82.
This rights issue will enable the Group to strengthen its financial structure. The proceeds of the issue will enable the Group to position itself with advantage for possible acquisitions of tangible stock, and to grasp opportunities thrown up by the crisis (purchase of shipping containers, modular buildings, river barges and railcars, for hiring out on mainly long-term leases).
370,062 new shares allotted under absolute entitlement were subscribed or 39.51% of the total number of new shares on issue. Another 555,685 shares were applied for subject to cutting back in the event of over-subscription, and orders for these were all filled. Another 27,000 shares had been applied for by the general public, and following partial application of the extension clause it proved possible to fill orders for all of these.
Two shareholders, Société Holding de Gestion et de Location (controlled by Raphaël Colonna Walewski) and Société Holding de Gestion et de Participation (controlled by Fabrice Colonna Walewski), which had undertaken to subscribe up to €5m in total in proportion to their respective stakes (subject to cut-backs), in fact each received 131 164 shares. As a result the Walewski family's shareholder combine held 30.9% of the company's stock on the day after the operation, and 35.95% of the voting rights.
Sofina, which had announced its commitment to taking up €10m of its absolute entitlement, received 524 658 shares. As a result Sofina's holding on the day after the operation was 13.94% of the company's stock, and 12.92% of the voting rights.
Salvepar, which had announced its commitment to taking up its full absolute entitlement, received 59,784 shares, and following the operation now holds 6.36% of the stock and 5.9% of the voting rights.
Settlement and delivery of the 952,747 new shares and their admission to trading on the Euronext Paris stock exchange, are expected to take place on 952 747 June 26. The new shares will be listed and traded under the same code (ISIN FR0000033003) as the company's existing stock.
On that date the total number of shares making up the share capital of TOUAX will have risen to 5,635,728.
The operation was led by Société Générale Corporate & Investment Banking as Bookrunner and Lead Manager, and BNP Paribas as Joint Lead Manager.
The prospectus as approved by the French financial regulator (Autorité des marchés financiers, AMF) is available free of charge at the TOUAX website www.touax.com, or that of the AMF at www.amf-france.org, or on application to TOUAX, Société Générale or BNP PARIBAS;
The prospectus received AMF Visa N° 09-193 on 17 June 2009, and consists of the TOUAX Reference Document (Financial Statement) for 2008 (AMF filing D.09-228 dated 9 April 2009, updated by the AMF filing of 17 June 2009 and incorporated under the same reference), an Information Memorandum (note d'opération), and a summary of the prospectus (included in the Information Memorandum).
TOUAX draws investors' attention to the "Risk Factors" sections of the AMF-approved Prospectus.
Further information
The TOUAX Group provides operating leases to customers around the world, both on its own account and for third-party investors. TOUAX is Europe's no.1 in shipping containers and river barges, and no.2 in modular buildings and freight railcars (intermodal railcars). TOUAX is well placed to respond to the boom in corporate outsourcing of non-core assets, and every day provides over 5,000 customers with quick and flexible leasing solutions.
TOUAX is listed on Euronext in Paris - NYSE Euronext Compartment C (ISIN Code FR0000033003), and features in the SBF 250 Index.
For further details please contact:
TOUAX Fabrice & Raphaël Walewski Managers touax@touax.com www.touax.com Tel : +33 (0)1 46 96 18 00
ACTIFIN Jean-Yves Barbara jybarbara@actifin.fr Tel: +33 (0)1 55 88 11 11