| ISIN: | DE 0005240709 | ||||||||||
| SIN: | 524070 | ||||||||||
| Class: | No-par-value shares | ||||||||||
| Capital stock: | 32,660,000 EUR | ||||||||||
| Number of shares: | 32,660,000 | ||||||||||
| Shareholder structure: |
NAVITAS B.V. 13.03% Norddeutsche Landesbank 13.14% Dr. Thomas van Aubel 7.58 Own shares 1.24% Free-float 65.01 % thereof
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| Listings: | Regulated market Frankfurt, Munich, Prime Standard unlisted trading Hamburg, Düsseldorf, Berlin, Stuttgart |
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| Index: | Prime All-Share Performance CDAX® Performance-Index Classic All Share Performance DAX sector Pharma & Healthcare DAX subsector Health Care DAX sector All Pharma & Healthcare DAX subsector All Health Care |
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| Designated Sponsor: | VEM Aktienbank AG | ||||||||||
| Financial year: | 31.12. | ||||||||||
| Initial Listing: | November 30, 1998 | ||||||||||
| Stock market abbreviation: | BHS, Reuters: BOHG.DE, Bloomberg: BHS GR |
Figures as of December 31, 2009
| Proposed dividend: | Balance Sheet Profit should be carried forward |
| Market capitalization: | 99.6 Mio. EUR |
| Average turnover per day | |
| 2009 in shares/EUR: | 15,306 shares / 46,905 EUR |
| Yearly high/low: | 4.24 / 2.45 EUR |
| Average price: | 3.06 EUR |
| Opening/closing price: | 3.95 / 3.05 EUR |
| Earnings per share (EPS): | 0.18 EUR |
| Cash-Flow per share (CPS): | 0.62 EUR |
Capital Investment Measures/Corporate Actions
Following the extraordinary General Meeting of Shareholders on November 27, 2000, the capital stock of Bonifatius Hospital & Seniorenresidenzen AG was reduced in an initial step from EUR 8,448,000.00 to EUR 3,300,000.00 and the balance of EUR 5,148,000.00 was appropriated to the capital reserve. Thus the capital stock was reduced to a par value of EUR 1, while there was no change in the number of shares. In a second step a capital increase was resolved against capital subscribed in kind of at least EUR 24 million and EUR 26.4 million at the most, whereby as beneficiaries the owners of Curanum AG contributed five Curanum shares for eight new shares as capital subscribed in kind. In April of the year 2001, all 26.4 million shares were subscribed.
Deutsche Börse AG (the German stock exchange) decided to admit the 26.4 million shares on August 2, 2001. The shares were included in the trading of the existing 3.3 million CURANUM shares on the organized market of the Frankfurt Stock Exchange and the Bavarian Stock Exchange in Munich under securities identification code number 524070 at the end of August 5, 2001. Since then a total of 29.7 million CURANUM AG shares have been tradable.
Furthermore, approved capital was also created; in particular, in order to have the required acquisition currency available. Thus the Managing Board is authorized to increase the capital stock on one or more occasions against cash or capital subscribed in kind of up to EUR 13,000,000. Since CURANUM AG intends to grow not only on the basis of its own strength, but also through external acquisitions, the Managing Board is therefore provided with the appropriate means with which to make purchases against granting new shares in the company and in order to take advantage of ideal opportunities as quickly and flexibly as possible.
In addition to Contingent Capital I for servicing the convertible bond, a second contingent capital amount was created totaling EUR 330,000. This Contingent Capital II is used to grant shares to those staff entitled to option rights in accordance with the share option plan and who exercise them within the valid exercise period.
The Management Board exercised the authorization to increase the capital on 4 May 2007. By doing so, the share capital was raised by issue of 2'960'000 new shares from 29.7 Mio EUR to 32.66 Mio EUR total.
The issue price was 7.73 EUR, coming up to a total capital inflow of 22 Mio EUR. A private investment trust subscribed for the new shares.
Share buyback program
Along with declining occupancy in the first half of the year 2008, the generally difficult situation in capital markets and the constellation of the CURANUM shareholder structure were the reasons for the negative share price performance in 2008. As a result of the persistent poor sentiment during the year, the share price fell to a level which, in the opinion of the Management and Supervisory boards, reflected a significant undervaluation compared to unlisted care operators in Germany. Smaller companies than CURANUM were traded at higher prices in the market. This prompted the Management Board, with the agreement of the Supervisory Board, to pass a resolution in September 2008 to perform share buyback program.
A total of 405,102 shares with an average price of € 3.06 were repurchased during the period September 19 to March 31, 2009. As result, treasury shares account for 1.24 % of the company's issued share capital.
Immediately following the conclusion of the buyback, all details concerning the share buyback were published on the company's website at www.curanum.de in the investor relations area under share buyback.
Investment Highlights
- Unique cluster strategy create high synergies in secondary services, e.g. system catering throughout the whole group
- Acquisitions result in high synergy effects with an increase in margin of new and established facilities
- Benefits due to the company size: negotiating power concerning acquisitions and leasing / rental negotiations
- Absolute concentration on core business, very few real estate business, no rehab- or acute clinics
- Long-term experience in nursing sector (over 20 years), high management quality, very experienced care rate-negotiation-department
- Stationary and ambulant care as well as managed apartments consolidated
- High quality standards especially in care, continuous screening through TQM (dept. Total Quality Management)
- Lean cost- and organisational structure, high synergies through lean corporate departments
- Diverse house bank structure, well-financed company
- SAP/R 3 in all care centres, up-to-date controlling system
