Ad-hoc notification according to § 15 WpHG (German Securities Trading Act) Cash capital increase
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TUI agrees terms of capital increase
Hanover, August 26, 2005
Today, Executive Board and Supervisory Board of TUI AG have agreed the details of the intended cash capital increase.
The share capital shall be increased by an amount of approximately EUR 182.8 million, split into about 71.5 million no-par value shares. TUI AG shareholders shall be offered subscription rights in a ratio of 5 to 2. Shareholders holding 5 existing shares may subscribe for 2 new shares each with dividend rights attached for the entire business year 2005. The subscription price amounts to EUR 14.20. The subscription offer containing all details is expected to be published on September 1, 2005. The two-week subscription period is expected to commence on September 2, 2005. As a consequence of the capital increase, the company will receive gross proceeds of approximately EUR 1 billion. Citigroup, Deutsche Bank and HVB Corporates & Markets have been mandated as Joint Lead Managers and Commerzbank and WestLB are acting as Co-Managers. The consortium has fully underwritten the capital increase in an underwriting agreement with standard market conditions.
Hanover, August 26, 2005
TUI AG
The Executive Board
Address:
TUI AG
Karl-Wiechert-Allee 4
D-30625 Hanover
List of stock exchanges:
Berlin/Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart
ISIN codes:
DE000TUAG000
DE0003659884
DE0002913894
XS0191794782
XS0191795672
XS0195307367
End of ad-hoc notification
This document is not an offer for sale of subscription rights or new shares in the United States. The subscription rights and the new shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or under the securities laws of any state of the United States, and may not be offered, sold or delivered in the United States. TUI AG does not intend to register any portion of the offering in the United States or to conduct a public offering of subscription rights or new shares in the United States.
If we comment on forecasts or expectations in this announcement or if our statements relate to the future, these statements may be associated with known and unknown risks and uncertainties. Actual outcomes and developments may, therefore, deviate significantly from the expressed expectations and assumptions. In addition, the performance of financial markets and exchange rates as well as national and international law amendments, particularly with regard to tax regulations, may have an influence. Except as provided by law, the company assumes no obligation to update future statements.
Not for distribution in the United States, Canada, Australia or Japan.
For further information please contact:
Björn Beroleit, phone +49 511 566-1310
Nicola Gehrt, phone +49 511 566-1435