Ad hoc: Biofrontera AG: Biofrontera AG decides to increase its base capital
Biofrontera AG / Capital increase / Ad hoc: Biofrontera AG decides to
increase its base capital
Ad hoc announcement according to §15 WpHG processed and transmitted
by Hugin. The issuer is solely responsible for the content of this
announcement.
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Leverkusen, 24 July 2009 - Biofrontera AG has decided today to
increase the base capital of the company by up to ¤ 1,493,757.00
through selling up to 1,493,757 new name shares from the authorized
capital.
The shareholders will be offered a purchase right for up to 1,434,157
new shares at a price of ¤ 1.50 per share. The VEM Aktienbank AG,
Munich, will be authorized to implement the capital increase.
The purchase right will commence on July 29, 2009 and conclude on
August 11, 2009. A purchase right was suspended for ¤ 59,600.00
fractional shares. Further details on the capital increase will be
communicated in the detailed purchase offer that will be published in
the electronic Federal Bulletin on July 28, 2009.
After yesterday's bond holder meeting of Biofrontera AG's 8%
convertible bond 2005/2010 the premises for a capital increase have
greatly improved. The bond holders have decided to extend the bond
until July 02, 2012, and to waive all interest payments from August
26, 2008, until August 25, 2011. Therefore, the obligation of
short-term payments in the amount of ¤ 1.5 mln., related to the
convertible bond, could be avoided.
Due to these changes in the conditions of the convertible, bond new
capital can be almost fully devoted to the operations of Biofrontera.
The most relevant goals are the launch of the new product Belixos® in
the fall 2009, as well as conclusion of the clinical development
program, particularly for Biofrontera's actinic keratosis drug BF-200
ALA.
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen, Germany
ISIN: DE0006046113, WKN: 604611
Contact:
Anke zur Mühlen
Biofrontera AG
Tel.: +49 (0214) 87 63 222
Fax.: +49 (0214) 87 63 290
E-mail: a.zurmuehlen@biofrontera.com
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Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;
ISIN: DE0006046113;
Listed: Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse
München,
Freiverkehr in Börse Stuttgart, Open Market in Frankfurter
Wertpapierbörse,
Regulierter Markt in Börse Düsseldorf;