EANS-Adhoc: Progress-Werk Oberkirch AG / Progress-Werk Oberkirch AG: Company issues a total of 625,000 new shares under the capital increase

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Stock Activity

15.05.2012

Oberkirch, May 15, 2012 - The Management Board of Progress-Werk
Oberkirch AG determined today, with the approval of the Supervisory
Board, the final volume of the capital increase by way of a
subscription rights offering for contribution in cash resolved on
April 23, 2012. Accordingly, the company's nominal share capital will
be raised at a subscription ratio of 4:1 from EUR 7,500,000.00 by EUR
1,875,000.00 to EUR 9,375,000.00 through the issue of 625,000 new
no-par value bearer shares each corresponding to EUR 3.00 of the
nominal capital. This means that the capital increase has been
carried through to its full extent. The implementation of the capital
increase is expected to be entered into the commercial register on
May 16, 2012. The new shares will be included in the existing share
listing presumably on May 29, 2012.

Progress-Werk Oberkirch AG will receive gross proceeds of roughly EUR
22.8 million from the capital increase. These proceeds are planned to
be invested in the company's further growth. Landesbank
Baden-Württemberg was mandated to act as lead manager, and Silvia
Quandt & Cie. AG was mandated to act as co-lead manager for the
transaction.

Progress-Werk Oberkirch AG
The Management Board

- End of the Ad hoc Announcement -

Information and Explanation of the Issuer on this News: This
announcement constitutes neither an offer to sell nor an invitation
to buy securities. The shares in Progress-Werk Oberkirch
Aktiengesellschaft (the "Shares") may not be offered or sold in the
United States or to or for the account or benefit of "U.S. persons"
(as such term is defined in Regulation S under the Securities Act of
1933, as amended (the "Securities Act")) absent registration or an
exemption from registration under the Securities Act. The Shares have
not been and will not be registered under the Securities Act. No
offer or sale of securities is being made to the public. The offer of
the Shares is addressed solely to the current shareholders of
Progress-Werk Oberkirch Aktiengesellschaft and is not a public offer.

Not for distribution, publication or transmission in or into the
United States, Canada, Japan or Australia.

Further inquiry note:
Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-Mail: bernd.bartmann@progress-werk.de

end of announcement euro adhoc
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issuer: Progress-Werk Oberkirch AG
Industriestraße 8
D-77704 Oberkirch
phone: +49(0)7802 84-0
mail: info@progress-werk.de
WWW: http://www.progress-werk.de
sector: Automotive Equipment
ISIN: DE0006968001
indexes:
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English