UNIQA reports impending completion of the UNITA takeover and an increase in capital of around 10%

 

 

As already announced in May 2008 UNIQA Group Austria will take over 100% of the share capital of the fifth largest Romanian insurance company UNITA from Vienna Insurance Group. The transaction will be finalised immediately after receiving the final necessary approvals - which are expected soon.

 

UNIQA will balance out the effects on equity caused by the legal completion of this transaction by increasing the share capital. By partially using the authorised capital already approved at the Annual General Meeting in 2005 (of up to €50,000,000), UNIQA Versicherungen AG, which is listed on the stock market, will increase its share capital by just under 10% to €131,673,000 by issuing 11,895,192 new, no-par bearer unit shares with voting rights to a share of the equity capital of €1 each. Only existing shareholders are entitled to purchase these shares in the ratio of 10:1 (existing : new shares). The subscription price is set at a maximum of €20. The placement of the complete issue volume is secured independently of the level that the subscription rights are utilised through commitments of the core shareholders.

 

Details of the increase in capital The Management Board of UNIQA Versicherungen AG with the unanimous agreement of the Supervisory Board resolved to increase the share capital of UNIQA Versicherungen AG from 119,777,808 shares to 131,673,000 shares by issuing up to 11,895,192 new shares. Only existing shareholders will receive subscription rights for one (1) new share for ten (10) existing shares that can be exercised during the subscription period from 31 October 2008 to 14 November 2008. The maximum subscription price has been set at €20.00 for each new share. The core shareholders of UNIQA Versicherungen AG will exercise their subscription rights and pick up any unexercised subscription rights. The new shares will have full dividend rights for the 2008 financial year. The new shares will be available without delay for official trading (Prime Market) on the Vienna Stock Exchange. Other details on the increase in capital will be included in the subscription call to be published shortly. As the new shares are not offered publicly but rather can only be purchased by existing UNIQA shareholders and as the capital increase is less than 10% of the UNIQA shares issued and authorised for stock market trading, no prospectus is required to comply with the Austrian Capital Market Act or Stock Market Act.

 

Key data on the increase in capital Issuer: UNIQA Versicherungen AG. Issue volume: Up to 11,895,192 new shares. Subscription ratio: 10 existing shares for 1 new share. Subscription rights trading: Subscription rights trade is not intended. Subscription period: 31 October to 14 November 2008. The company reserves the right to end the subscription ahead of time or extend it. Maximum subscription price: €20.00 per share. Value date: 19 November 2008. Dividend rights for new shares: From 1 January 2008. First listing of the new shares: The new shares are expected to be listed for official trading on the Vienna Stock Exchange (Prime Market) from 19 November 2008.

 

Reservations concerning statements about the future This message contains statements that refer to future developments in the UNIQA Group Austria. These statements are appraisals that are made based on all information available to us at the current point in time. If the assumptions on which they are based do not occur, the actual events may vary from the results currently expected. For this reason, we cannot accept liability for these statements.

 

Vienna, 29. October 2008