Hapag-Lloyd to conduct capital increase following UASC merger 28 September 2017

Hapag-Lloyd AG will now carry out the capital increase that was agreed upon as part of the merger of Hapag-Lloyd and UASC. The gross proceeds are expected to amount to approximately €352.0 million (approx. US$414.0 million).

The official merger of the two companies occurred on 24 May 2017. At the Annual General Meeting on 29 May 2017, the shareholders approved new authorised share capital for a capital increase. The capital increase is backstopped by the primary shareholders CSAV Germany Container Holding GmbH, Kuehne Maritime GmbH, Qatar Holding Germany GmbH and The Public Investment Fund of the Kingdom of Saudi Arabia for a total of approximately €352.0 million. They have committed to exercise their subscription rights and to acquire new shares that are not acquired by other shareholders.

The Company’s share capital of €164,042,940.0 will increase by €11,717,353.0 to €175,760,293.0 by issuing 11,717,353 new no-par shares in exchange for cash while maintaining the shareholders’ subscription rights. The proportionate amount of the share capital attributable to each new share is €1.00. The new shares became eligible for dividends on 1 January 2017 and shall be offered to all shareholders at a subscription price of €30.00 and a ratio of 14:1 per share.

The subscription period for the shareholders is expected to start on 2 October 2017 and end on 16 October 2017. The expected gross issue proceeds from the capital increase of approximately €352.0 million will primarily be used for the repayment of debt as well as general corporate purposes. This enables the Company to focus on enhancing its strategic and operating objectives.