2 for 5 Rights Issue by the Company of approximately €15,000,000 worth of new ordinary shares (the “Rights Issue”)
Quote
The Board of Directors announces that an Application for Authorisation for Admissibility to Listing to the Listing Authority has been made, requesting approval of a prospectus (the “Prospectus”) in relation to the Rights Issue. The Rights Issue will be offered to shareholders on the Register at the Central Securities Depository of the Malta Stock Exchange as at the close of business on 4 October 2019 (the “Record Date”).
In terms of the Prospectus and subject to regulatory approval being obtained, shareholders shall be entitled to subscribe to two (2) new ordinary shares for every five (5) ordinary shares (or parts thereof, subject to rounding) held by them as at the Record Date at a Rights Issue price of €1.25 per new ordinary share. If subscribed to in full, the Rights Issue will raise gross proceeds of approximately fifteen million Euro (€15,000,000) which will be applied to part-finance the development of the Trident Park project.
Further detailed information on the Rights Issue shall be available in the Prospectus, which
will be available on the Company’s website and at financial intermediaries in due course,
following attainment of the necessary regulatory approvals.
Unquote
Kenneth C. Pullicino
Company Secretary
1 October 2019
