MYRIAD GROUP AG Myriad Group AG Announces Successful Conclusion of Rights Issue
ZURICH, Switzerland - 5th September 2017: Myriad Group AG (SIX Swiss Exchange: MYRN) today announces the successful conclusion of the Rights Issue approved by shareholders at the Extraordinary General Meeting on 24th August 2017. The initial subscription period closed today at noon with 37,064,411 shares taken up by rights holders. This amounted to 99.06% of the 37,417,204 shares with a nominal value of CHF 0.10, offered at a subscription price of CHF 0.50 under the proposed capital increase. The unexercised subscription rights to the remaining 352,793 shares will be allocated by the Board of Directors to interested parties in the best interest of the Company. As a result the issue will be fully subscribed.
On completion of the capital increase, Myriad will receive gross proceeds of CHF 18,708,602, before associated fees and stamp duty. Following the capital increase, Myriad's share capital totals CHF 14,971,927.20, divided into 149,719,272 shares with a nominal value of CHF 0.10 each.
The first day of trading of the new shares is expected to be September 12th, 2017.
Erik Hansen, Chairman of the Board of Myriad Group, commented: "I am delighted to be able to announce the successful conclusion of the rights issue proposed on 24th August. This capital increase provides the company with the necessary financial resources to support the launch of Thingstream. We are now well placed to deliver on the strategic plans recently presented to investors. On behalf of the Board of Directors and the management team, I would like to thank our Shareholders for demonstrating their continuing overwhelming support for the Company's future."
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