ENCAVIS AG gains Versicherungskammer Bayern as investor for further growth financing

Hamburg, December 11, 2019 - The Management Board and Supervisory Board of Encavis AG (ISIN: DE0006095003, Prime Standard), listed on the SDAX, welcome Versicherungskammer Bayern as a new investor for further growth financing. In this regard, the Management Board of Encavis AG today resolved, on the basis of the authorization resolution of the Annual General Meeting on May 18, 2017 and with the approval of the Supervisory Board, to increase the company"s share capital by up to 4.21% against cash contributions. The company"s share capital shall be increased from currently EUR 131,498,147.00 to EUR 137,039,147.00 through the issue of 5,541,000 new bearer shares with a pro rata amount of share capital of EUR 1.00 per share, making partial use of the existing authorized capital 2017. The new shares were subscribed at a price of EUR 8.72 per new share, 3% below the Volume-Weighted-Average-Price of the past five days, the standard market practice. The company will receive gross proceeds of around EUR 48 million. Shareholders" subscription rights were excluded. The Versicherungskammer Bayern thus holds around 4.04% of the shares in Encavis AG.

"We are pleased to welcome on board the Versicherungskammer Bayern, a financially strong investor with whom we can jointly shape the long-term growth course of the Group," said Dr. Dierk Paskert, CEO of Encavis AG, welcoming the new anchor investor. "With the first capital increase since 2016, we are receiving funds which enable us to continue our organic growth course through further acquisitions. We have a firepower of more than EUR 150 million of equity with which we can enable further transaction volumes of up to EUR 500 million," said Dr. Christoph Husmann, CFO of Encavis AG, explaining the use of funds from the current capital increase. "Despite the capital increase, we confirm our guidance for earnings per share of EUR 0.42 for 2019," Dr. Husmann continued.

All new shares are acquired by BayernInvest Kapitalverwaltungsgesellschaft mbH, Munich, acting as a capital management company for and on behalf of BayernInvest BWA-Fonds, a special fund of Versicherungskammer Bayern Versicherungsanstalt des öffentlichen Rechts. These shares are entitled to dividends as of January 1, 2019. Immediately after registration of the capital increase in the commercial register, the new shares shall be admitted to trading on the regulated market of the Frankfurt Stock Exchange with simultaneous admission to the sub-segment of the regulated market with further obligations (Prime Standard) of the Frankfurt Stock Exchange and to the regulated market of the Hamburg Stock Exchange.

"Based on the previous financing and successful direct investments of the Versicherungskammer Bayern in sustainable and profitable investments of the Encavis Group, we are convinced that our direct investment in Encavis AG will enable us to support the renewable energy generation even stronger", Isabella Pfaller, Member of the Board of Directors of the Versicherungskammer Bayern, explained the focus of the largest public insurer on investments in sustainable assets.

The transaction was accompanied by Bankhaus Lampe KG as sole bookrunner.

About the Versicherungskammer Bayern:

The Versicherungskammer Group is the largest public insurer in Germany and now the seventh-largest primary insurer in Germany. In the 2018 financial year, it generated premium income totalling EUR 8.31 billion. With its regional companies, the company operates in Bavaria, the Palatinate, Saarland, Berlin and Brandenburg. The health insurer of the S-Finanzgruppe operates nationwide together with the other public insurers. The social commitment of the Versicherungskammer Group is of great importance.

The sustainability-oriented strategy of promoting voluntary institutions and initiatives, which are particularly active in the field of prevention and safety, has been additionally strengthened in recent years by the two foundations, Versicherungskammer-Stiftung and Versicherungskammer-Kulturstiftung. In addition, the Group Insurance Chamber was awarded the "Career and Family" certificate as a family-friendly company for the third time. It has around 6,600 employees, of whom almost 300 are trainees.

Further information about the company can be found at www.vkb.de.