Corporate | Financial

— Strong investor demand
— 5.614 million new shares placed
— Gross proceeds amount of € 400 million
— First refinancing element for acquisition of US company ADF/IDF completed

Within a very short time Symrise AG successfully completed its announced capital increase based on authorized capital. In an accelerated bookbuilding procedure, the company placed 5,614,036 new shares with institutional investors at an issue price of € 71.25 per share. The gross proceeds of € 400 million are earmarked for the partial funding of the planned acquisition of ADF/IDF, a supplier of natural ingredients. The acquisition was announced at the end of January.

"We are delighted with the positive response to our capital increase. We regard the strong demand from the capital market as proof of the attractiveness of the Symrise share. For us, it is a clear sign of confidence in our proven strategy and at the same time a further confirmation of the strategic logic behind the planned acquisition of ADF/IDF. With this capital increase, we have quickly succeeded in putting the first financial cornerstone in place for the acquisition," said Olaf Klinger, CFO of Symrise AG.

The capital increase based on authorized capital, excluding shareholders’ subscription rights, was carried out on the basis of the authorization granted to the Executive Board by the Annual General Meeting on 12 May 2015. It is expected to be entered in the Commercial Register on 11 February 2019. As a result of the capital increase, the share capital of Symrise AG will be increased from € 129,812,574 to € 135.426.610. The new shares are entitled to dividends as of the year 2018. On 11 February 2019, the new shares are expected to be admitted to trading without a prospectus, and on 12 February 2019, are expected to be included in the existing quotation in the subsegment of the regulated market segment with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange.

Pending the entry of the completed capital increase in the Commercial Register, the capital increase will generate gross proceeds of around € 400 million for Symrise. The net proceeds will be used for the partial refinancing of the bridge facility in connection with the ADF/IDF acquisition, as announced on 31 January 2019. Through the planned acquisition of ADF/IDF, headquartered in Springfield, MO, Symrise plans to significantly expand the Nutrition segment and its presence in North America. The planned acquisition will be financed, as announced, with a combination of debt and equity.

BNP Paribas and UniCredit Bank AG acted as Joint Global Coordinators and Joint Bookrunners on the capital increase. Symrise had been advised by Clifford Chance Deutschland LLP, BNP Paribas and UniCredit Bank AG had been advised by White & Case.LLP. 


About Symrise:

Symrise is a global supplier of fragrances, flavors, food and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food. 

Its sales of € 3 billion in the 2017 fiscal year make Symrise a leading global provider in the flavor, nutrition and fragrance markets. Headquartered in Holzminden, Germany, the Group is represented by around 100 sites in Europe, Africa, the Middle East, Asia, the United States and Latin America. 

Symrise works with its clients to develop new ideas and market-ready concepts for products that form an indispensable part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise – always inspiring more … 

www.symrise.com


Symrise Media Contact:
Bernhard Kott 
Phone.: +49 (0)5531 90-1721
Email: bernhard.kott@symrise.com

Symrise Investor Contact:
Tobias Erfurth
Phone: +49 (0)5531 90-1879
Email: tobias.erfurth@symrise.com

Symrise Social Media:
twitter.com/symriseag
linkedin.com/company/symrise
youtube.com/agsymrise
instagram.com/symriseag
xing.com/companies/symrise


Disclaimer
This document and the information contained herein are not for distribution in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the "United States"), Canada, Australia or Japan.  This document does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities (the "Shares") of Symrise AG (the "Company") in the United States.  The Shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act.