Brief: Audio Visual Enterprises SA proceeds with 12 mln euros share capital increase

Ave SA

28/07/2015 10:07

July 28 (Reuters) - Audio Visual Enterprises SA  ADVR.AT : 
     
    * Announced on Monday that increases its share capital by 12 
million euros ($13.28 million) by issuing 17.14 million new 
preferred shares without voting rights  
    * Says the issue price of the new shares to be at 0.70 euros 
per share, not to be listed in Athens Stock Exchange  
    * Sets the privilege of the preferred over the common 
shares, only to the preferential return of paid by the holders 
of preference shares capital from the liquidation of assets, 
including participation in any premium amounts possibly paid 
    * Provides holders of these preferred shares the right to 
convert into common shares with voting right at any time within 
the period of five years from their issuance and sets the 
conversion ratio at 1:1 
    * Sets mandatory conversion of these preferred shares into 
common shares with voting right at the end of five years from 
their issuance 
    * Sets availability of the new preferred shares with 
cancellation of pre-emption rights of the existing shareholders 
as follows: a) for an amount of 1.17 million euros, in favor 
company's shareholder "Doson Investments Company", through 
capitalization of cash facility, already been paid by the latter 
to the company, b) for the amount of 10.83 million euros, in 
favor of "Doson Investments Company" in cash  
 
     
 Source text: http://bit.ly/1gisd1K 
     
 Further company coverage:  ADVR.AT   
    
 
 
 
($1 = 0.9038 euros) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))