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voestalpine resolves to increase registered capital by 2% in order to further expand employee shareholding scheme

26 February 2009 | 

voestalpine resolves to increase registered capital by 2% in order to further expand employee shareholding scheme

Subject to the approval of the Supervisory Board, voestalpine AG's Management Board resolved on February 25, 2009 to exercise its power to increase the Company’s registered capital in accordance with § 4 (2) (b) of its Articles of Association by issuing 3,300,000 new bearer shares at no par value, thus increasing the registered capital by approximately 2%. The issue price was fixed at EUR 13.08 per share. The issue price of the shares corresponds to the closing weighted average market price of the voestalpine share over the 5 trading days prior to the resolution of Management Board adopted on February 25, 2009.

The purpose of issuing the new shares is to further expand and safeguard voestalpine’s employee shareholding scheme. The subscription rights of all other shareholders are thus being excluded, and shares may be acquired only by voestalpine Mitarbeiterbeteiligung Privatstiftung, which shall hold the shares in trust for the employees participating in the voestalpine employee shareholding scheme.

Upon completion of the capital increase, the company's capital stock will be EUR 305,042,462.76 and consist of 167,899,032 individual shares. The capital increase is scheduled to take place at the end of March 2009.

As early as 2000, voestalpine has launched an employee shareholding scheme which has subsequently been expanded continually. As of February 25, 2009 voestalpine Mitarbeiterbeteiligung Privatstiftung held 10.79% of voestalpine AG's capital. With the capital increase this share will rise to 12.54%.

This ad-hoc notice constitutes neither an offer for sale nor an invitation to submit an offer to purchase voestalpine AG securities. As the new shares are not being offered for public subscription but rather are being offered for subscription exclusively to the voestalpine Mitarbeiterbeteiligung Privatstiftung holding the shares in trust for the employees participating in the voestalpine shareholding scheme, and as the increase in capital stock amounts to less than 10% of all issued and listed voestalpine shares, no prospectus is required to be issued pursuant to the Austrian Capital Market Act [Kapitalmarktgesetz] or the Austrian Stock Exchange Act [Börsegesetz].