• Gross proceeds total approximately €1.1 million
  • Positive response confirms confidence in AUTEV's business model

Brandenburg an der Havel, 20 March 2012 - AUTEV AG is announcing the successful completion of the capital increase initiated at the end of January 2012 and the issue of a convertible bond. The gross proceeds of both corporate actions exceeded initial expectations, totalling some €1.1 million. The proceeds will increase working capital, used to pre-finance major projects, and thus will help the company continue with its established growth strategy.

"By successfully completing these corporate actions, we have taken a big step in the further implementation of the growth strategy we have chosen. The positive response from our investors, as reflected in the amount of capital raised, is further confirmation of their confidence in the AUTEV business model and the strategy we have established", commented Tim David, member of AUTEV AG's Management Board.

The Management Board

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This press release was issued by Autev AG and was initially posted at http://www.autev.de/news-reader-224/items/autev-ag-implementation-of-established-growth-strategy-aid ed-by-successful-corporate-actions.html . It was distributed, unedited and unaltered, by noodls on 2012-03-22 09:55:23 AM. The issuer is solely responsible for the accuracy of the information contained therein.