Brief: Borgestad Intends To Carry Out Private Placement

Borgestad ASA

27/11/2019 15:44

Nov 27 (Reuters) - Borgestad ASA  BOR.OL :
    * BORGESTAD - INTENDS TO CARRY OUT PRIVATE PLACEMENT
DIRECTED
TOWARDS NORWEGIAN AND INTERNATIONAL INVESTORS
    * TOTAL PROCEEDS FROM ISSUE AT BETWEEN NOK 50 MILLION AND
NOK 75
MILLION
    * ISSUE PRICE TO BE NOK 20 PER SHARE
    * ISSUE TO CONSIST OF TWO SEPARATE TRANCHES, ONE OF UP TO
2.5
MILLION NEW SHARES AND ONE WITH UP TO 1.25 MILLION NEW SHARES
    * BORGESTAD - SUBJECT TO SUCCESSFUL COMPLETION OF SHARE
ISSUE,
BOARD WILL CONSIDER CONDUCTING SUBSEQUENT REPAIR ISSUE
    * BORGESTAD - IF SHARE ISSUE IS COMPLETED PLANS TO OFFER
EXISTING
BONDHOLDERS AS OF NOV 27, 2019, TO REDEEM BONDS OF TOTAL NOMINAL
AMOUNT OF UP TO NOK 50 MILLION
    * BORGESTAD - DURING FIRST 10 MONTHS OF 2019, CO HAD TOTAL
TURNOVER OF MNOK 778 (COMPARED WITH MNOK 678 IN SAME PERIOD YEAR
BEFORE)
    * NET PROCEEDS FROM ISSUE WILL BE USED TO STRENGTHEN CO'S
INVESTMENT AREAS (NOK 50 MILLION); PROCEEDS EXCEEDING NOK 50
MILLION WILL BE USED TO REDUCE CO'S EXISTING DEBT

Source text for Eikon:  ID:nObiLtSPfa 
Further company coverage:  BOR.OL 

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