Draka Holding N.V.: Draka successfully completes placement of 8,119,370 new ordinary shares

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Beleggingsadvies 02/10/2009 10:29
Draka Holding N.V. ("Draka" or the "Company") announces that has successfully raised € 50.3 million through an accelerated bookbuild offering (the "Offering") of 4,057,654 new ordinary shares (the "Shares") at a price of € 12.40 per Share. Draka also agreed to issue 4,061,716 shares via a private placement to its large shareholder Flint Beheer B.V. ("Flint") at the same terms and conditions established through the Offering. It concerns a total of 8,119,370 shares at a price of € 12.40 per share, corresponding with an amount € 100.7 million.

Allocation of the Shares has taken place today on 2 October 2009. Payment for and delivery of the Shares issued via the Offering is expected to take place on 7 October 2009, at which date the newly issued Shares are expected to be admitted to listing on NYSE Euronext in Amsterdam.

An extraordinary general meeting of shareholders to be held on 22 October 2009 will be convened to, inter alia, approve the private placement of 4,061,716 Shares to Flint and to approve the issue of preference shares to the two holders of Draka's preference shares that currently hold more than 5% of its issued share capital allowing such holders to maintain their holdings above 5%. Flint has committed to vote in favor of the above at the meeting.
Draka will request admission to listing and trading of the Shares issued to Flint within 90 days of the date of issue of these Shares and following publication of a prospectus to be published in connection with the listing of these Shares.
After settlement of the total issuance, Draka's issued ordinary share capital will consist of 48,736,530 shares.

Use of proceeds
Around € 75 million of the proceeds will be used to strengthen the company's financial position, enabling Draka to take advantage of future growth opportunities.

The remaining proceeds of around € 25 million will be used for additional restructuring measures to lower the cost base. Measures include the intended closure of a factory, the further downscale of its automotive cable production and various efficiency measures in the Communications Group. In addition to the already announced expected cost savings of € 50 million, these measures are currently expected to result in savings of approximately € 10 million in 2010.

Sole Global Coordinator and Sole Bookrunner for the Offering
Fortis Bank Nederland / MeesPierson Corporate Finance & Capital Markets acted as Sole Global Coordinator and Sole Bookrunner for the Offering.

Amsterdam, 2 October 2009




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