DGAP-Adhoc: mwb Wertpapierhandelsbank AG and FAIRTRADE FINANCE AG, Hamburg, planning merger
2007-11-09 20:45
Graefelfing/Munich, 9 November 2007. mwb Wertpapierhandelsbank AG is
planning a merger with Hamburg-based FAIRTRADE FINANCE AG. A letter of
intent to this effect was signed today by the two companies. The merger is
intended to be realized liquidity-friendly. FAIRTRADE shareholders will
contribute their shares to mwb in exchange for around three million shares
of mwb Wertpapierhandelsbank AG. 2.5 million of these shares will be
created from authorized capital by means of a capital increase by mwb
through contributions in kind, the difference will be settled by own
shares. FAIRTRADE shareholders will hold 40% of mwb's share capital after
the merger.
Hamburg-based FAIRTRADE FINANCE AG is an order-book management company
focusing primarily on stock exchange trading in open-ended investment
funds. It currently manages around 1,800 of the ca. 3,400 funds being
traded on the Fondsbörse Deutschland, the funds trading platform of the
Hamburg Stock Exchange. In this market segment, the Hamburg Stock Exchange
with its Fondsbörse is the market leader in Germany. Moreover, FAIRTRADE
FINANCE AG is the only order-book manager in all other market segments on
the stock exchanges in Hamburg and Hanover, managing in this context around
5,000 bonds and 1,500 equities. In the first half of 2007, FAIRTRADE
generated earnings before taxes of around EUR 3.7 million.
The transaction is still subject to the results of a valuation by auditors,
the positive outcome of a due diligence exercise, and approval by the
BaFin. The examinations are due to proceed immediately.
Contact:
mwb Wertpapierhandelsbank AG
Thomas Posovatz
Rottenbucher Straße 28
82166 Gräfelfing
Tel.: 089/85 85 2-500
Fax: 089/85 85 2-505
E-Mail: investor-relations@mwb.de
09.11.2007 Financial News transmitted by DGAP
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Language: English
Issuer: mwb Wertpapierhandelsbank AG
Rottenbucher Straße 28
82166 Gräfelfing
Deutschland
Phone: +49 (0)89 858 52-305
Fax: +49 (0)89 858 52-5 05
E-mail: investor-relations@mwb.de
Internet: www.mwb.de
ISIN: DE0006656101
WKN: 665610
Indices: CDAX, PRIMEALL, CLASSICALLSHARE
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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planning a merger with Hamburg-based FAIRTRADE FINANCE AG. A letter of
intent to this effect was signed today by the two companies. The merger is
intended to be realized liquidity-friendly. FAIRTRADE shareholders will
contribute their shares to mwb in exchange for around three million shares
of mwb Wertpapierhandelsbank AG. 2.5 million of these shares will be
created from authorized capital by means of a capital increase by mwb
through contributions in kind, the difference will be settled by own
shares. FAIRTRADE shareholders will hold 40% of mwb's share capital after
the merger.
Hamburg-based FAIRTRADE FINANCE AG is an order-book management company
focusing primarily on stock exchange trading in open-ended investment
funds. It currently manages around 1,800 of the ca. 3,400 funds being
traded on the Fondsbörse Deutschland, the funds trading platform of the
Hamburg Stock Exchange. In this market segment, the Hamburg Stock Exchange
with its Fondsbörse is the market leader in Germany. Moreover, FAIRTRADE
FINANCE AG is the only order-book manager in all other market segments on
the stock exchanges in Hamburg and Hanover, managing in this context around
5,000 bonds and 1,500 equities. In the first half of 2007, FAIRTRADE
generated earnings before taxes of around EUR 3.7 million.
The transaction is still subject to the results of a valuation by auditors,
the positive outcome of a due diligence exercise, and approval by the
BaFin. The examinations are due to proceed immediately.
Contact:
mwb Wertpapierhandelsbank AG
Thomas Posovatz
Rottenbucher Straße 28
82166 Gräfelfing
Tel.: 089/85 85 2-500
Fax: 089/85 85 2-505
E-Mail: investor-relations@mwb.de
09.11.2007 Financial News transmitted by DGAP
---------------------------------------------------------------------------
Language: English
Issuer: mwb Wertpapierhandelsbank AG
Rottenbucher Straße 28
82166 Gräfelfing
Deutschland
Phone: +49 (0)89 858 52-305
Fax: +49 (0)89 858 52-5 05
E-mail: investor-relations@mwb.de
Internet: www.mwb.de
ISIN: DE0006656101
WKN: 665610
Indices: CDAX, PRIMEALL, CLASSICALLSHARE
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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