ADC African Development Corporation announces capital increase from authorized capital of up to 764,614 shares

ADC African Development Corporation GmbH & Co. KGaA, a rapidly growing financial services group focusing on the frontier markets of sub-Saharan Africa, announces an increase in its share capital. With the approval of the Supervisory Board, the management of the General Partner has today decided to nominally increase the share capital of currently EUR
7,646,150.00 through a partial utilization of the existing authorized capital up to EUR 8,410,764.00 by issuing up to 764,614 (EUR 764,614.00, 10% of share capital) new non-par registered shares with a nominal value of EUR 1.00 per share against cash contributions.

Although German law allows the exclusion of subscription rights within a 10% capital increase, management decided to voluntarily offer its shareholders a subscription right in the ratio of 10 to 1 (indirect subscription right). For 10 'old' shares 1 'new' share can therefore be obtained. The subscription period will begin on Friday 09 December 2011 and will continue for two weeks up to and including 22 December 2011. The subscription price amounts to EUR 12.00. The subscription offer will presumably be published in the Electronic Federal Gazette on Thursday, 08 December 2011.

Shareholders have the option to subscribe for further shares, exceeding the number of shares which they are entitled to based on the subscription rights via over-subscription.

Non-subscribed shares will first of all, via over-subscription, be offered to existing shareholders, further shares will be placed with institutional investors in a private placement. Existing strategic investors of ADC already indicated their interest to exercise their subscription rights and if possible increase their shareholding.

Use of proceeds will be allocated to two new promising transactions in the pipeline.

The capital increase will be accompanied by Silvia Quandt & Cie. AG as tied agent pursuant to section 2 paragraph 10 of the German Banking Act (KWG) in the name and on behalf of biw AG.

ADC African Development Corporation, ISIN DE000A1E8NW9 (ticker symbol: AZC.GR), was established in September 2007 and quickly positioned itself as one of the leading investors for banks and insurance companies in the above-average growth markets of sub-Saharan Africa. The company's success is primarily due to its local management team, which follows international best practice principles to further develop banks and implements conventional international processes to increase their profitability. As the second international emerging market investor in the world, ADC was integrated into the insurance solution offered by the Multilateral Investment Guarantee Agency ('MIGA'), a member of the World Bank Group, primarily due to its strong operational approach and adherence to the highest ethical standards. This insurance offers protection against a variety of political risks, in particular the risk of radical political change.

ADC African Development Corporation
Investor Relations
Grüneburgweg 18
60322 Frankfurt
Telefon: +49 69 719 12 80 119
Telefax: +49 69 719 12 80-089
Email: investor-relations@african-development.com

Press Relations
edicto GmbH
Axel Mühlhaus / Werner Rüppel
Eschersheimer Landtsraße 42
60322 Frankfurt am Main
Telefon: +49 (0) 69-905 50 55 2
Email: amuehlhaus@edicto.de

This release was published on openPR.