Portigon AG: General Meeting decides capital increase
Today at an Extraordinary General Meeting of Portigon AG, it was decided to increase the company's share capital by a cash contribution of approximately ? 160 million. The new shares have been subscribed exclusively by the State of North Rhine-Westphalia and carry full dividend rights as of January 1, 2021.
Negotiations between the State of North Rhine-Westphalia and Portigon AG to sign a structured credit facility ending December 31, 2025 in the amount of approximately ? 190 million are at an advanced stage; finalization will allow Portigon AG to draw down this facility with the right to convert into equity capital subject to the fulfilment of certain conditions.
The net proceeds from the capital increase will be used to increase Portigon AG's regulatory capital. The liquidity from the capital increase, in conjunction with the liquidity available from the structured credit facility, allows Portigon AG to proceed with the ongoing wind-down of the company in order to implement the decision of the European Commission dated December 20, 2011.Contact: Walter Ehlen Head of Unternehmenssteuerung V?lklinger Str. 4 40519 D?sseldorf Tel. +49 211 890 995 10 firstname.lastname@example.org
25-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Portigon AG V?lklinger Str. 4 40219 D?sseldorf
Germany Phone: +49 (0) 211-826-71455 Fax: +49 (0) 211-826-2010 E-mail: Dr.Carsten.Hellinger@portigon-ag.de Internet: www.portigon-ag.de ISIN: DE0008364902, XS0100256139 WKN: 836490 Listed: Regulated Unofficial Market in Dusseldorf (Prim?rmarkt); Luxembourg Stock Exchange EQS News ID: 1178552 ? End of Announcement DGAP News Service