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Relaxnews SA Announces EUR 0.9 Million Capital Increase and Acquires 100% of Joint Venture with Solocal Group SA


Friday, 26 Apr 2013 02:04am EDT 

Relaxnews SA announced that it is to acquire 100% of the share capital of Relaxevents, a joint venture founded in 2011 between the Company (60%) and Solocal Group SA (40%). Relaxevents operates an information database containing cultural and touristic information. In exchange of its stake in Relaxevents, Solocal Group will receive 51,351 new shares in Relaxnews SA at an issue price of EUR 7.85. Relaxnews SA will also issue at the same conditions 65,326 new shares in a private placement for a total amount of EUR 0.512 million. In total, the capital increase will amount to EUR 0.9 million and will represent 8% of the share capital of Relaxnews SA post-transaction. It values the Company at EUR 11.9 million. 

Company Quote

5.6
-0.11 -1.93%
21 Jul 2014