Brief: MTG Resolves On Rights Issue Of SEK 2,500 Million

Modern Times MTG AB

17/12/2020 08:19

Dec 17 (Reuters) - Modern Times Group MTG AB  MTGb.ST :
    * MTG RESOLVES ON A RIGHTS ISSUE OF APPROXIMATELY SEK 2,500
MILLION SUBJECT TO APPROVAL BY AN EXTRAORDINARY GENERAL MEETING
    * MTG RESOLVES ON A RIGHTS ISSUE OF APPROXIMATELY SEK 2,500
MILLION SUBJECT TO APPROVAL BY AN EXTRAORDINARY GENERAL MEETING
    * NEW ISSUE OF CLASS B SHARES OF APPROXIMATELY SEK 2,500
MILLION
WITH PREFERENTIAL RIGHTS FOR EXISTING SHAREHOLDERS
    * PURPOSE OF RIGHTS ISSUE IS TO REPAY BRIDGE LOAN FACILITY
USED TO
FINANCE ACQUISITION OF HUTCH GAMES LTD
    * RIGHTS ISSUE WILL PROVIDE MTG WITH GROSS PROCEEDS OF
APPROXIMATELY SEK 2,500 MILLION BEFORE DEDUCTION OF TRANSACTION
RELATED COSTS
    * PROCEEDS FROM RIGHTS ISSUE WILL, TOGETHER WITH EXISTING
CASH ON
BALANCE, BE USED TO REPAY BRIDGE LOAN FACILITY OF SEK 1,800
MILLION
    * SUBSCRIPTION PERIOD WILL BEGIN ON 27 JANUARY 2021 AND END
ON 10
FEBRUARY 2021
    * FINAL TERMS OF RIGHTS ISSUE, INCLUDING SUBSCRIPTION PRICE
AND
NUMBER OF CLASS B SHARES TO BE ISSUED WILL BE ANNOUNCED ON 18
JANUARY 2021
    * PURPOSE OF RIGHTS ISSUE IS ALSO TO REPAY VENDOR NOTE
INCURRED IN
CONNECTION WITH ACQUISITION OF ADDITIONAL 17 PER CENT OF SHARES
IN INNOGAMES.

Source text for Eikon:  ID:nWkr5kRlqH 
Further company coverage:  MTGb.ST 

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