Go ahead for increase in share capital for Negri Bossi, a company of Sacmi Group, leader in Italy in the design and sales of plastic injection moulding machines, listed in the STAR division of the Italian Stock Exchange. The decision, taken during the Extraordinary Shareholders’ meeting held on September 15, was followed today by the authorization granted by CONSOB and the publication of the Information Prospectus, which can be downloaded from the Investor Relations section of the company website www.negribossi.com
The operation involves an increase in the share capital for a maximum of 15.4 million euros through the issue of ordinary shares with no nominal value.
The new Negri Bossi shares will have the same characteristics as those already on the market and stock options will be offered to shareholders in proportion to the number of shares already held. The subscription price, set by the Board of Directors of Negri Bossi is equal to €0.70.
A warrant will be combined free of charge with each of the shares subscribed as part of the offer. Said warrant will be able to circulate freely and will grant entitlement to subscription of additional new shares, in the ratio of 1 share per warrant, at the same subscription price as for the share capital increase of € 0.70. The warrants can be exercised at any time during the period from January 1, 2007 to June 30, 2010.
The start of the offer period and the period for trading stock options has been scheduled for November 13, 2006; the last possible day for trading stock options will be November 24 2006.
The last date for subscribing new Negri Bossi shares will be December 1, 2006.
The share capital increase is aimed at providing the company with the resources needed to strengthen the company’s asset structure, including at a consolidated level, redressing the balance between financial liabilities and net equity, and at supporting achievement of goals regarding asset growth and development set in the 2006-2008 Business Plan.
The majority shareholder H.P.S. - SACMI Group - has undertaken to subscribe the share capital increase for the total amount of its holding (approximately 60% of the share capital) and for an additional share, up to a maximum of 12.936 million euros, thus ensuring the operation's success up to 84% of its counter-value.