Brief: Grupa Virtus SA Signs Term Sheet For Cooperation To Acquire Financing And Consolidate Andoria And Huta Malapanew Industrial Assets
BRIEF-Grupa Virtus SA Signs Term Sheet For Cooperation To Acquire Financing And Consolidate Andoria And Huta Malapanew Industrial Assets July 22 (Reuters) - Grupa Virtus SA GVTP.WA:
SIGNS NON-BINDING TERM SHEET FOR COOPERATION TO ACQUIRE FINANCING AND CONSOLIDATE ANDORIA AND HUTA MALAPANEW INDUSTRIAL ASSETS
COOPERATION INCLUDES FINANCING DEVELOPMENT OF DEFENCE PROJECTS SUCH AS MK82 AND 155 MM AMMUNITION COMPONENT PRODUCTION
TERM SHEET WITH POLSKA GRUPA HUTNICZA, SUPRA INVESTMENTS AND DORADZTWO GOSPODARCZE SCORPION
TRANSACTION ASSUMES PGH EMITTING UP TO 7 MILLION NEW SHARES WORTH 21 MILLION ZLOTYS; CO INTENDS TO ACQUIRE SHARES WORTH AT LEAST 2 MILLION ZLOTYS
PGH TO ACQUIRE 100% IN ANDORIA AND 100% IN HUTA MALAPANEW IN EXCHANGE FOR 33.33 MILLION PGH SHARES REPRESENTING ABOUT 69.1% OF STAKE
ANOTHER PGH SHARE EMISSION OF ABOUT 40 MILLION TO ABOUT 80 MILLION ZLOTYS IS PLANNED AT PRICE ABOVE 3.00 ZLOTYS PER SHARE
TERM SHEET ASSUMES INITIATING ACTIONS TO TRANSFER PGH LISTING FROM NEWCONNECT TO WARSAW STOCK EXCHANGE MAIN MARKET
Source text: [ID:]
Further company coverage: GVTP.WA
(Reporting by Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com;))
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