ANTIQUORUM announces a capital increase and additional financing Geneva, May 20, 2008, Antiquorum, the world’s leading watch auctioneer, today announced that along with the sale of Artist House Holding’s equity position to the Hong Kong company, Forever Most Investment Ltd., it has also successfully completed its planned capital increase. Antiquorum is pleased to announce that it was able to successfully raise CHF 2.2 million of new share capital and to obtain an additional financing commitment of CHF 5 million from a private investor. This capital increase in the amount of CHF 2.2 million falls within the strategy of asserting Antiquorum’s financial situation, and will allow for a strengthening of Antiquorum’s shareholders’ equity. The financial commitment of CHF 5 million will enable its future expansion into new markets in Asia and elsewhere.
When the new shares from the capital increases are issued, Antiquorum registered share capital, will be increased from currently CHF 2.1 million to CHF 4.3 million. Commenting on this capital increase, Mr Yo Tsukahara, Chairman and Chief Executive Officer of Antiquorum noted: “The private investor brings experience and strength to a growing company. I am delighted to find a new partner with a great understanding of the potential of Antiquorum. This capital increase will help develop new opportunities and consolidate our leading position.” Antiquorum will present an important collection of 400 timepieces in Hong Kong on June 7th, 2008. Looking ahead, Mr Etienne Leménager, Director and Watch Expert commented: “This sale will be exceptional for collectors worldwide and our Asian clients in particular.” | |  | About Antiquorum
Antiquorum is, unquestionably, the world’s leading watch auctioneer. Of the 62 watches ever sold publicly by major auction houses above CHF 1,000,000, Antiquorum claims an impressive 44. In 2002, Antiquorum established the all-time world record price for a wristwatch at auction when it sold a platinum Patek Philippe World Time Ref. 1415 from 1939 for an astounding CHF 6,603,500 (US$ 4,026,524). This record-breaking price more than doubled the previous world record price for a wrist watch at auction. Another record price for a modern watch was achieved in 2004, the unique white gold Calibre 89, also by Patek Philippe, was sold for CHF 6,603,500 (US$ 5,002,652). | | Communiqué |
