Priority part: ca EUR 11 million for subscription by all investors, but with a
priority allocation for subscriptions substantiated with No 1 coupon.
‘Free part: ca EUR 4 million for private placing with institutional investors.
Following on the announcement of the terms and conditions of the capital increase, ZENITEL notifies that the subscription price has been fixed at 3.50 euro per new share with VVPR strip. This operation has created 4,285,714 new shares with VVPR strip.
With regard to the priority part ca. EUR 8.63 million or 60.41% was subscribed by holders of No 1 coupons. In addition to this, a significant demand by new investors, both private and institutional, was registered. The shares available to these investors (ie subscriptions without No 1 coupon) were substantially over-subscribed.
In the allocation of shares 12.5% of the demanded shares are allocated to private investors.
Applications from institutional investors needed also to be reduced substantially.
‘
We are extremely satisfied with the result of the operation as it helps to strengthen our financial structure and support the growth of the company’, says Erik Hoving, CEO of ZENITEL. ‘Also because this transaction has lead to an expansion of the ownership of shares with several prominent institutional investors. We shall now get to work with these chances.’
The reference shareholders reconfirm and strengthen their announced trust in the future of Zenitel. As a result of this transaction, the participation of 3D NV and the Wilg GCV has increased from ca 29% up to ca 40%.
The new shares and VVPR strips will be accepted in the Premier Marché of Euronext Brussels on 17th February 2005.
The increase in capital was realised by KBC Securities in collaboration with the KBC Bank and CBC Banque offices.