The Leading Journal for the Tyre Recycling Sector

The Leading Journal for the Tyre Recycling Sector

Pyrum Innovations AG Sees Capital Increase

Issue proceeds will be used for the construction of the new Pyrum site in Perl-Besch, participation in joint ventures for new plants and general corporate purposes

Pyrum Innovations AG successfully placed a capital increase against cash contributions on the market, excluding shareholders’ subscription rights. A total of 363,637 new shares were issued at a placement price of EUR 27.50 per new share, resulting in gross issue proceeds of approximately EUR 10.0 million for the Company.

Pascal Klein, CEO of Pyrum Innovations AG said; “We would like to thank the investors involved for their trust and are delighted that we were able to gain Ralf Bohle GmbH, known for its “Schwalbe” brand, as a new investor as part of the placement. The funds raised will enable us to drive forward the further development of our company. With the long-term purchase agreement for our rCB from Continental, in addition to the purchase agreements with Schwalbe – also for rCB – and with BASF for our oil, we have achieved the final piece of the puzzle for our rollout plan. What we still need now are larger production capacities. The capital increase will help enormously and is essentially a major step towards the construction of our second Pyrum-owned plant in Perl-Besch. In addition, we can increase our share in the joint venture plant in the Czech Republic to up to 49 per cent and thus also participate more strongly in the income from this planned plant.”

The share capital of the company will be increased from EUR 3,253,735.00 divided into 3,253,735 no-par value registered shares with a nominal share of the share capital of EUR 1.00 per share by partially utilising the Authorised Capital 2024 by issuing 363,637 no-par value registered shares by EUR 363,637.00 to EUR 3,617,372.00. Ralf Bohle GmbH will hold a 4% stake in Pyrum following the capital increase. The company plans to use these proceeds for the development of the new site in Perl-Besch, for participation in joint ventures for new plants of the Pyrum Innovations AG as well as for general corporate purposes.

The new shares are to be included into trading on the open market of the Frankfurt Stock Exchange in the Scale segment and into trading on the Oslo Stock Exchange (Euronext Growth). Inclusion will take place immediately after the capital increase, probably at the beginning of November 2024.