CIR : Sogefi: capital increase of a nominal € 9.7 mln approved
September 26, 2014 at 10:21 am EDT
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Sogefi: capital increase of a nominal € 9.7 mln approved
SOGEFI: CAPITAL INCREASE OF A NOMINAL € 9.7 MLN APPROVED TO SERVICE € 100 MLN EQUITY-LINKED BOND
Milan, September 26 2014 - The Shareholders'Meeting of Sogefi SpA was held in Milan today, in an extraordinary session, under the chairmanship of Rodolfo De Benedetti.
In the sole item on the Agenda, the Shareholders approved a share capital increase in cash, against payment and in tranches, with the exclusion of any option as per the terms of Art. 2441, paragraph 5, of the Civil Code, for a total nominal amount of up to € 9,657,528.92 to be released once or more than once, through the issuance of up to 18,572,171 ordinary shares having the same characteristics as the ordinary shares in circulation, reserved exclusively and irrevocably to service the conversion of the equity linked Bond for a total amount of € 100,000,000 maturing on May 21 2021. The Bond, which was issued on May 14 2014, is reserved for investors qualified according to the Terms and Conditions of the same, at a price per share of € 5.3844, subject to adjustments on the occurrence of circumstances governed by the Terms and Conditions, in line with market practice. The final deadline for subscription of the newly issued shares has been fixed at 32 trading days before the maturity date of May 21 2021, and if by the aforementioned deadline the capital increase has not been subscribed in full, it is understood that the capital will in any case be increased by an amount equal to the subscriptions received by that date, with the express authorization of the Directors to issue the new shares as and when they are subscribed. The Shareholders also voted to amend Art. 5 of the Company Bylaws to take into account the resolutions adopted.
CIR SpA Compagnie Industriali Riunite is an Italy-based company. The Company structures its business into five sectors: Energy, Media, Automotive Components, Healthcare and Non-core Investments. In the Energy sector, the Company is active in the generation of electrical power and distribution of natural gas. The Media sector is focused on publishing, radio, television and Internet portals operation. The Automotive Components sector is primarily engaged in the production of engine systems and suspension components. In the Healthcare sector, the Company is active in the operation of nursing homes and rehabilitation centers, as well as in the provision of hi-tech medical services, such as diagnostic imagining, nuclear medicine and radio therapy. In the Non-core Investments sector, the Company is involved in venture capital funds, private equity funds and other investments.