|
Leica proposes capital reduction and restructuring
Mark Peters : May 3th 2005 - 19:50 CET
|
|
|
 Leica proposes capital reduction and restructuring : The Supervisory Board of Leica Camera AG, Solms, unanimously and jointly with the Company’s Board of Management, proposes measures to restore the capital base of the company and to finance a restructuring. A simplified capital reduction by ?10 million to ? 1.5 million will be proposed to the shareholders of the company. Each three no-par-value shares are to be combined into one no-par-value share. Simultaneously, the capital reserve amounting to ? 4.2 million will be released. Both measures will be implemented in order to offset depreciation and other losses totalling ?14.2 million.
|
 Leica - Increase the share capital
Following the capital reduction it will be proposed to the Extraordinary General Meeting to increase the share capital to up to ? 15 million by issuance of up to 13.5 million new no-parvalue bearer shares. The new no-par-value shares are to be issued at an issue price of ?1.70 per no-par-value share and to be initially offered for subscription to the shareholders at a ratio of 1:9. In addition, an authorised capital is to be created.
Leica - Board of Management
The text of the invitation to the General Meeting of Leica Camera AG to be held on May 31, 2005 will be immediately published in the electronic Federal Gazette (elektronischer Bundesanzeiger). The Chairman of the Board of Management of Leica Camera AG, Ralf Coenen (43), resigns from the Board of Management in mutual agreement. The Supervisory Board of Leica Camera AG has appointed Dr. Josef Spichtig (61) as interim Chairman of the Board of Management effective from April 18, 2005. The new Chairman of the Board of Management has a long experience in the management and consulting of businesses, also in phases of restructuring. Dr. Spichtig has a scientific and a managerial education. He is married and of Swiss nationality.
|
|
|
|
