BRAIN FORCE HOLDING AG, Vienna, intends to raise 10.6 million euros for funding further takeovers in the course of a cash capital increase from the company's approved capital. This measure involving the company's capital will be fully guaranteed by two investors. One of the investors has already held long-term investments in BRAIN FORCE.
These investors will subscribe to all shares of the capital increase which are available after exercising the share options. The investors' subscription guarantee underpins their trust in the integrative force of the BRAIN FORCE Group and in the continued success of the "buy & build" strategy.
With the proceeds from this capital measure, the Executive Board intends to fund concrete corporate takeovers. They will decisively accelerate the announced expansion of the distribution territory of the BRAIN FORCE Group to eastern and northern Europe and will round off the existing range of products.
In the course of these measures, the Executive Board of BRAIN FORCE HOLDING AG has decided, with the approval of the Supervisory Board, to increase the capital stock by a par value of EUR 3,419,276.00, which is 33%, by issuing 3,419,276 individual bearer shares (common stock) against cash contribution. The issue of the new shares is made at a price of EUR 3.10 and comes with profit participation from 1 January 2006. The pre-emptive right is not excluded. The subscription period is planned for the beginning of the second quarter. The precise date and details will be announced in a separate invitation for subscription in the next weeks.
