Brief: Impact Coatings Says Directed Share Issue To Hyundai And Accendo Capital At Price Premium

Impact Coatings AB (publ)

30/10/2019 24:33

Oct 29 (Reuters) - Impact Coatings Ab (Publ)  IMPC.ST :
    * IMPACT COATINGS ANNOUNCES DIRECTED SHARE ISSUE TO HYUNDAI
MOTOR
COMPANY AND ACCENDO CAPITAL AT A PRICE PREMIUM
    * HYUNDAI HAS NOMINATED SUKHWAN YUN TO IMPACT COATINGS BOARD
OF
DIRECTORS
    * HYUNDAI HAS NOMINATED SUKHWAN YUN TO IMPACT COATINGS BOARD
OF
DIRECTORS
    * A DIRECTED ISSUE OF 5.4 MILLION NEW SHARES TO HYUNDAI AND
3.9
MILLION NEW SHARES TO ACCENDO CAPITAL
    * ISSUE HAS A SUBSCRIPTION PRICE OF SEK 7.00 PER SHARE
    * IMPACT COATINGS- POST-TRANSACTION SHARES OF TOTAL
OUTSTANDING
EQUITY CAPITAL, VOTES OF HYUNDAI, ACCENDO CAPITAL WILL BE 10.4%
& 12.0 %, RESPECTIVELY
    * IMPACT COATINGS -TRANSACTION DEVIATES FROM SHAREHOLDERS'
PREFERENTIAL SUBSCRIPTION RIGHTS & IS STRICTLY LIMITED TO NEW
SHARES ISSUED TO HYUNDAI
    * IMPACT COATINGS HAS ENTERED INTO A JOINT DEVELOPMENT
AGREEMENT
WITH HYUNDAI
    * IMPACT COATINGS-ACCENDO CAPITAL HAS UNDERTAKEN TO SUPPORT
POTENTIAL FUTURE INVESTMENT FROM HYUNDAI, PROVIDED SUCH
INVESTMENT IS APPROVED BY CO'S BOARD
    * IMPACT COATINGS- MARK SHAY, CHAIRMAN OF CO BOARD HAS NOT
PARTICIPATED IN BOARD'S TALKS & DECISION WITH RESPECT TO SHARE
ISSUANCE TO ACCENDO CAPITAL

Source text for Eikon:  ID:nWkr71J574 
Further company coverage:  IMPC.ST 

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