Brief: Gränges Resolves On Fully Guaranteed Rights Issue

Granges AB

18/11/2020 06:32

Nov 18 (Reuters) - Granges AB  GRANG.ST :
    * GRÄNGES RESOLVES ON A FULLY GUARANTEED RIGHTS ISSUE AND
ANNOUNCES TERMS
    * RIGHTS ISSUE COMPRISES A MAXIMUM OF 28,348,964 SHARES.
    * SHAREHOLDERS IN GRÄNGES HAVE PREFERENTIAL RIGHT TO
SUBSCRIBE FOR
4 NEW SHARES PER 11 EXISTING SHARES.
    * SUBSCRIPTION PRICE HAS BEEN SET TO SEK 60 PER SHARE, WHICH
WILL
PROVIDE TOTAL PROCEEDS OF SEK 1,701 MILLION BEFORE TRANSACTION
COSTS.
    * PURPOSE IS TO FINANCE ACQUISITION OF ALUMINIUM KONIN,
MAINTAIN
FINANCIAL STRENGTH AND TO FINANCE FUTURE GROWTH INVESTMENTS
    * ELEVEN (11) SUBSCRIPTION RIGHTS ENTITLE SUBSCRIPTION OF
FOUR (4)
NEW SHARES.
    * SUBSCRIPTION AND GUARANTEE COMMITMENTS PROVIDED BY
SHAREHOLDERS
AMOUNT TO 66.4 PER CENT OF RIGHTS ISSUE.
    * SUBSCRIPTION OF NEW SHARES SHALL TAKE PLACE FROM 27
NOVEMBER
2020 UP TO, AND INCLUDING, 11 DECEMBER 2020, OR UNTIL SUCH LATER
DATE RESOLVED BY BOARD OF DIRECTORS.

Source text for Eikon:  ID:nWkr7CfphX 
Further company coverage:  GRANG.ST 

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