EANS-Adhoc: Lenzing AG / Lenzing and B & C announce plans for Public Offering of Lenzing shares

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ad-hoc disclosure 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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08.03.2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

Vienna/Lenzing, 8 March 2011 - Lenzing AG ("Lenzing") and B & C Group (together
with its affiliates "B & C") are announcing the intention to conduct an offer of
new and existing shares of Lenzing in a planned "Re-IPO" in Q2 2011.

Lenzing plans to offer new shares from a capital increase of approx. EUR 75
million to existing shareholders by means of a subscription offer and to new
shareholders with a view to supporting its announced capacity expansion program.
Lenzing´s current 90.5% shareholder B & C is planning to offer existing shares
through a partial sell-down of its stake. New and existing shares are expected
to be offered to private and institutional investors in Austria and to
institutional investors internationally. Lenzing will apply for a listing of all
new shares on the Vienna Stock Exchange and the inclusion of all existing and
new shares in the Prime Market segment. If implemented as planned, the
contemplated "Re-IPO" is expected to substantially increase Lenzing´s free float
and improve the Company´s long-term access to the capital market. In particular,
the capital increase would optimize Lenzing´s funding mix for its planned
investment program and future growth. The details regarding the possible offer
size, expected free float and the exact timing of any transaction will also
depend on prevailing market conditions. B & C plans to retain its active role as
a long-term core and majority shareholder of Lenzing in the future.

B & C and Lenzing have mandated Morgan Stanley as Sole Global Coordinator for
the planned transaction. Morgan Stanley, Deutsche Bank and UniCredit have been
mandated as Joint Bookrunners for the planned transaction.

About Lenzing Group
The Lenzing Group is an international group of companies with its headquarters
in Austria, production sites in all major markets and a global network of sales
and marketing offices. Lenzing provides the global textile and nonwovens
industry with high-quality cellulose fibers.

About B & C Group
The objective of B & C Foundation, the parent company of B & C Group, is
fostering Austrian entrepreneurship. B & C Industrieholding GmbH, the management
holding of B & C Group, is one of the largest Austrian investment companies and
currently holds, among others, controlling stakes in the listed industrial
companies Lenzing AG (90.5%) and Semperit AG Holding (54.2%), as well as a
substantial stake in the construction company A. Porr AG (38.7% of the voting
rights). The management board of B & C Industrieholding GmbH consists of Dr.
Michael Junghans, chairman of the management board, Dr. Walter Lederer and Mag.
Patrick F. Prügger. Further information on B & C Industrieholding GmbH can be
found at www.bcholding.at.

For more information please contact:

Lenzing AG:
Mag. Angelika Guldt
Head of Corporate Communications
Telefon: +43 (0) 7672 701-2713
E-Mail: [email protected]

B & C Group:
Dr. Michael Junghans
Chairman of the Managing Board
B & C Industrieholding GmbH
Telefon: +43 (0) 1 533 2 533-16
E-Mail: [email protected]

Disclaimer:
These materials are not for distribution, directly or indirectly, in or into the
United States (including its territories and possessions, any State of the
United States and the District of Columbia). These materials do not constitute
or form a part of any offer or solicitation to purchase or subscribe for
securities in the United States of America. The shares of Lenzing AG (the
"Shares") mentioned herein may not be offered or sold in the United States
absent registration or an exemption from registration under the US Securities
Act of 1933, as amended (the "Securities Act").
The Shares have not been, and will not be, registered under the Securities Act
and will not be offered or sold in the United States, except on the basis of
applicable exemptions from the registration requirement. There will be no public
offering of securities in the United States or anywhere outside of Austria.
This press release is directed only at persons (i) who are outside the United
Kingdom or (ii) who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii)
who fall within Article 49(2)(a) to (d) ("high net worth companies,
unincorporated associations etc.") of the Order (all such persons together being
referred to as "Relevant Persons"). Any person who is not a Relevant Person must
not act or rely on this communication or any of its contents. Any investment or
investment activity to which this communication relates is available only to
Relevant Persons and will be engaged in only with Relevant Persons.
This information is not an offer of securities for sale or a solicitation of an
offer to purchase any securities of Lenzing AG. A public offer may only be made
in Austria after publication of a prospectus prepared in accordance with the
provisions of the Austrian Capital Markets Act. Any securities orders received
prior to the commencement of a public offer will be rejected. If a public offer
is to be made in Austria, a prospectus will be prepared in accordance with the
Austrian Capital Markets Act. Such prospectus will be available free of charge
at the Company´s registered office during usual business hours.

Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 07672-918-2713
mailto:[email protected]
end of announcement euro adhoc
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issuer:      Lenzing AG
               
             A-A-4860 Lenzing
phone:       +43 7672-701-0
FAX:         +43 7672-96301
mail:        [email protected]
WWW:         http://www.lenzing.com
sector:      Chemicals
ISIN:        AT0000644505
indexes:     WBI

stockmarkets: free trade: Berlin, official market: Wien
language: English

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