Kurs & Likviditet
Beskrivning
Land | Norge |
---|---|
Lista | OB Match |
Sektor | Informationsteknik |
Industri | Kommunikation |
2019-06-06 08:06:17
Oslo, 6 June 2019 - Reference is made to the stock exchange announcement dated 11 April 2019 regarding the acquisition of vwd Group GmbH (“VWD”) and the releases on 3 June 2019 and 4 June 2019 regarding the fully underwritten rights issue (the "Rights Issue") in Infront ASA (the "Company"). In the Rights Issue, which will be on a two new shares for three existing shares basis, a total of 17,331,904 subscription rights (the “Rights”) will be issued to shareholders of the Company as per 4 June 2019. The full terms and conditions for the Rights Issue will be included in a prospectus which will be published prior to the commencement of the subscription period for the Rights Issue, expected to take place from Friday 7 June 2019 to Friday 21 June 2019 at 16:30 CEST (the “Subscription Period”). Trading in the subscription rights is expected to take place from Friday 7 June 2019 to Wednesday 19 June at 16:30 CEST In order to part-finance participation in the Rights Issue, Nesbak AS, a company owned by Kristian Nesbak, Chief Executive Officer of Infront, has today sold 1,715,556 Rights at a price of NOK 4.60 per Right. Nesbak AS will subscribe for its remaining 1,106,666 Rights allocated for a total investment of approx. NOK 15.5 million (approx. NOK 7.6 million net of the proceeds from the sale of Rights) on the first day of the Subscription Period. Nesbak AS, which is currently holding 16.28% of the outstanding capital in Infront, will after the abovementioned sale of Rights and subscription in the Rights Issue, hold 5,340,000 shares in Infront, representing 12.32% of the outstanding capital in the Company after the Rights Issue. In order to part-finance participation in the Rights Issue, Lindeman AS, a company owned by Morten Lindeman, Chief Innovation Officer of Infront, has today sold 1,277,778 Rights at a price of NOK 4.60 per Right. Lindeman AS will subscribe for its remaining 1,633,333 Rights for a total investment of approx. NOK 22.9 million (approx. NOK 17 million net of the proceeds the from sale of Rights) on the first day of the Subscription Period. Lindeman AS, which is currently holding 16.80% of the outstanding capital in Infront, will after the abovementioned sale of Rights and subscription in the Rights Issue, hold 6,000,000 shares in Infront, representing 13.85% of the outstanding capital in the Company after the Rights Issue. The Rights were placed in a structured sale of a total of approx. 3.6 million Rights managed by ABG Sundal Collier and Danske Bank, Norwegian Branch (the “Placing”). Other sellers in the Placing (currently holding a combined 4.44% of the Company) were relatives to Nesbak and Lindeman as well as one employee in Infront (the “Other Sellers”, together with Nesbak AS and Lindeman AS, the “Sellers”). The Others Sellers have committed to subscribe for their remaining Rights and thereby be cash neutral in the Rights Issue. The buyers of the Rights (the “Buyers”) were a mix of existing shareholders and new institutional investors and family offices. The Buyers have undertaken to subscribe in the Rights Issue for the Rights they acquired in the Placing and have, as such, committed to a total investment amount of NOK 50 million in the Rights Issue (excluding the purchase amount for the Rights of NOK 16.4 million), representing 21% of the Rights Issue. In addition existing shareholders, which have underwritten NOK 120 million of the Rights Issue (the “Additional Underwriters”), have pre-committed to subscribe at least pro rata in the Rights Issue meaning that approx. 55% of the Rights Issue is pre-committed ahead of the start of the Subscription Period. For further information, please contact: Max Hofer, Chief Financial Officer Tel: +47 971 48 953 / max.hofer@infrontfinance.com This information is subject to the disclosure requirements pursuant to section 4-2 and 4-3 of the Norwegian Securities Trading Act.