GO plc – An update on Forthnet’s capital increase

August 22, 2013
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

GO plc announced that Forthnet SA (‘Forthnet’) yesterday issued an announcement in connection with the proposed share capital increase of Forthnet, defining the issue price of the new shares within the framework of the share capital increase with cash payment and by way of pre-emption rights in favour of the existing shareholders. The issue price of the new shares is set at a nominal value of €0.30 per new share. The Company further announces that it envisages that Forthnet will in the coming weeks be issuing the prospectus explaining the details of the proposed capital increase, and at that stage the Company will be in a position to take a decision on whether or not to participate in the capital increase. The company announcement issued by Forthnet is being reproduced below as part of this Company announcement.

 

21.08.2013 

 

Forthnet SA

 

Announcement for the issue price of the new shares within the framework of the share capital increase with cash payment and by way of pre-emption right in favor of existing shareholders.

 

Forthnet SA (hereinafter the “Company”) announces that its Board of Directors upon its meeting on 21.08.2013 resolved as follows: 

 

Further to the relevant authorization of the August 23, 2012 Extraordinary General Meeting of the Shareholders to the Board of Directors of the Company, to define the Issue Price of the new shares, regarding the share capital increase of the Company up to 29,143,372.50 Euros, with cash payment and the issuance and distribution of 97,144,575 new common registered shares, of the nominal value of 0.30 Euros each (hereinafter “New Shares), with a pre-emption right of the existing shareholders of the Company, at a ratio of 15 new shares to 2 old ones, the Board of Directors, taking into consideration the resolution of the as above General Meeting, according to which the issue price of the New Shares may be higher than the stock exchange price on the ex-rights date, resolves and announces that

 

(a) The Issue Price of the New Shares is €0.30 per New Share. 

 

(b) Following the increase as per the above and in case that it is fully covered, the share capital of the Company will amount to 33,029,155.50 Euros, divided into 110,097,185 shares, with a nominal value of 0.30 Euros, each. 

 

(c ) On the basis of the Issue Price of the New Shares as resolved, the total funds to be raised, in case that the above share capital increase is fully covered, will amount to 29,143,372.50 Euros.

 

(d) The ex-rights date of the Pre-emption Right, the period of the exercise of the Pre-emption Right, as well as the period of the negotiation of the Pre-emption Right in the Stock Exchange, will be defined by the Board of Directors of the Company and will be notified to the Shareholders, by a subsequent announcement. 

 

 

 

To view the official company announcement, click here.