Merger with inControl Tech increases earnings per share
Berlin, 9 June 2009 – The Executive Board of PSI AG decided with the Supervisory Board's consent to increase capital in exchange for stock by 2,607,367 shares under exclusion of subscription rights. Subject of the contribution in kind are the shares of inControl Tech Sdn Bhd, Kuala Lumpur, Malaysia. inControl Tech expects an EBIT of 2.3 million Euros for 2009, the expected net contribution per newly issued PSI share is 22 percent above the existing consensus estimate for the PSI group. Consolidation of inControl Tech will take effect from 1 June 2009.
PSI will repay shareholder loans the amount of EUR 1.5 million in addition to the issuance of new shares. With the issuance of 2,607,367 new named no-par-value shares, the company’s equity capital will be increased by nominal EUR 6,674,859.52, to EUR 40,185,256.96.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, water, heat), cross-company production management (metals, mechanical engineering, automotive, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and currently employs 1,250 persons in the group.