Funkwerk acquires equity interest in euromicron

Funkwerk AG (German Securities Code Number (WKN): 575314), an equity investment of Hörmann Industries GmbH (corporate bonds, WKN: A2AAZG and WKN: A2TSCH), today concluded an investor agreement with euromicron AG (WKN A1K030) on the subscription of up to around 28% of the shares of euromicron AG. The shares will be issued in two tranches in the form of cash capital increases. The subscription price was set at EUR 3.40 per share. The first tranche, amounting to 10% of the current share capital, will be acquired by Funkwerk AG in the form of a private placement with shareholders’ pre-emptive subscription rights disapplied. The second tranche will be acquired through the exercise of pre-emptive subscription rights and the subscription of the shares not subscribed by the existing shareholders of euromicron AG. The acquisition of the second tranche of shares will be completed following anti-trust approval in the Federal Republic of Germany and in Austria, which is expected around mid-August 2019. The total cost of the transaction for Funkwerk will be a maximum of around EUR 10.3 million.

Funkwerk AG’s equity interest will form the basis for the planned strategic partnership that will allow both companies to strengthen their technological base, expand the service portfolio for their customers and give them access to new customer groups in the areas of critical infrastructure and digitised building services. Hörmann Industries GmbH expects the strengthening of Funkwerk AG’s market position and the expansion of its service portfolio to support diversification within the four segments of the Hörmann Group, with the Communication segment in particular benefiting from the expertise gained.

Further information on the participation can be found in the ad hoc disclosures of Funkwerk AG and euromicron AG.