Kardex AG: Kardex completes the sale of its Stow Division

31 July 2013, Company News

Kardex AG  / Key word(s): Miscellaneous

31.07.2013 17:50

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

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
Edwin van der Geest
Investor Relations
Tel. +41 44 419 44 79
Tel. +41 79 330 55 22


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. +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=VGVFVKLNPB 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 --------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------