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Kardex AG: Kardex completes the sale of its Stow Division and plans a special dividend

Media information Zurich, 31 July 2013 Kardex completes the sale of its Stow Division and plans a special dividend



Kardex AG / Key word(s): Miscellaneous

 

31.07.2013 17:50

 

Release of an ad hoc announcement pursuant to Art. 53 KR

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Media information

 

Zurich, 31 July 2013

 

Kardex completes the sale of its Stow Division and plans a special dividend

 

Today Kardex AG completed the sale of its Stow Division to Averys. The move

follows the approval of the transaction by the competition authorities a

few days ago. The Group will use the cash inflow from the sale of around

EUR 76 million (which includes the repayment of intercompany loans)

primarily to invest in the accelerated organic expansion of the Kardex

Remstar division and to repay its bank debts.

 

Furthermore, the company plans to distribute around CHF 30 million to

shareholders in the form of a special dividend of CHF 4.00 per share, which

is tax-free for private Swiss individuals, from its capital contributions

reserve. This is roughly equivalent to the funds generated by the capital

increase back in September 2011, which the company is now channelling back

to shareholders. Once the audited interim report has been prepared, the

company will therefore convene an extraordinary general meeting, which is

expected to take place at the end of September 2013.

 

The Group's equity ratio will remain comfortably above 50% even after the

special dividend has been paid.

 

Contact for media and

investors:

Edwin van der Geest

Investor Relations

investor-

relations@kardex.com

Tel. +41 44 419 44 79

Tel. +41 79 330 55 22

 

www.kardex.com

 

Calendar of events:

22 August 2013 2013 half-year closing, publication of 2013

Interim Report

13 March 2014 2013 year-end-closing, publication of 2013

Annual Report

2014 media and analysts' conference

24 April 2014 2014 Annual General Meeting

 

 

 

Kardex Group - Corporate Profile

 

The Kardex Group is a global acting industry partner for intra-logistic

solutions and a leading supplier of automated storage solutions and

material handling systems. The Group consists of two entrepreneurial

managed divisions, Kardex Remstar and Kardex Mlog. Kardex Remstar develops,

produces and maintains shuttles and dynamic storage and retrieval systems

and Kardex Mlog offers integrated materials handling systems and automated

high-bay warehouses. The two divisions are partners for their customers

over the entire life cycle of a product or solution. This begins with the

assessment of customer requirements and continues through planning,

realization and maintenance of customer-specific systems. It ensures a high

level of availability combined with low total cost of ownership and

operation. Around 1 500 employees in over 30 countries work for the Kardex

Group.

 

Disclaimer

 

This communication contains statements that constitute 'forward-looking

statements'. In this communication, such forward-looking statements

include, without limitation, statements relating to our financial

condition, results of operations and business and certain of our strategic

plans and objectives. Because these forward-looking statements are subject

to risks and uncertainties, actual future results may differ materially

from those expressed in or implied by the statements. Many of these risks

and uncertainties relate to factors which are beyond Kardex's ability to

control or estimate precisely, such as future market conditions, currency

fluctuations, the behavior of other market participants, the actions of

governmental regulators and other risk factors detailed in Kardex's past

and future filings and reports and in past and future filings, press

releases, reports and other information posted on Kardex Group companies'

websites. Readers are cautioned not to put undue reliance on

forward-looking statements, which speak only of the date of this

communication. Kardex disclaims any intention or obligation to update and

revise any forward-looking statements, whether as a result of new

information, future events or otherwise.

 

 

 

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Additional features:

Document: n.equitystory.com/c/fncls.ssp

 

Document title: Kardex completes the sale of its Stow Division

 

 

31.07.2013 News transmitted by EQS Schweiz AG.

The issuer is responsible for the contents of the release.

 

EquityStory publishes regulatory releases, media releases on the capital

market and press releases.

The EquityStory Group distributes authentic and real-time financial news

for over 1'300 listed companies.

The Swiss news archive can be found at www.equitystory.ch/news

 

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Language: English

Company: Kardex AG

Thurgauerstrasse 40

8050 Zürich

Switzerland

Phone: +41 (0)44 419 44 79

Fax:

E-mail: investor-relations@kardex.com

Internet: www.kardex.com

ISIN: CH0100837282

Valor: A0RMWK

Listed: Freiverkehr in Berlin, München, Stuttgart;

Frankfurt in Open Market ; SIX

 

End of Announcement EQS Group News-Service

 

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