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Germany - SCHMOLZ+BICKENBACH KG successfully sold 12.9 million rights

SCHMOLZ+BICKENBACH KG announces that its affiliated companies have sold 12,862,053 rights of SCHMOLZ+BICKENBACH AG for a price of CHF 4.45 per right in an accelerated bookbuilding in the context of the CHF 297 million rights issue of SCHMOLZ+ BICKENBACH AG.

The proceeds from the sale of rights as well as an additional investment are used to subscribe for new shares of SCHMOLZ+BICKENBACH AG. Based on this rights take-up and the investment, SCHMOLZ+BICKENBACH KG is expected to indirectly hold approx. 39.5% of the share capital of SCHMOLZ+BICKENBACH AG post closing of the capital increase.

The SCHMOLZ+BICKENBACH KG companies have agreed with Credit Suisse (acting on behalf of the other Joint Bookrunners) not to sell any shares of SCHMOLZ+BICKENBACH AG for a period of 180 days after the first trading day of the new shares of SCHMOLZ+BICKENBACH AG, hence expected to end on May 8, 2011.

The three members of the Executive Board of SCHMOLZ+BICKENBACH AG have acquired rights for CHF 1.4 million in the bookbuilding process, allowing them to subscribe for approx. 0.8 million registered shares at CHF 3.97, and are expected to hold approx. 0.8% of the share capital of SCHMOLZ+ BICKENBACH AG following the completion of the capital increase. The shares held by the Executive Board are or will be, respectively, subject to lock-up undertakings similar to the lock-up obligation of the SCHMOLZ+BICKENBACH KG companies.

Credit Suisse acted as Sole Global Coordinator, and together with COMMERZBANK, The Royal Bank of Scotland and WestLB AG as Joint Bookrunners on the transaction.

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