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Independent News & Media Public Ltd Co announces result of open offer


Monday, 16 Dec 2013 02:00am EST 

Independent News & Media Public Ltd Co:Announces details of a proposed Firm Placing and Placing and Open Offer (the Capital Raise) to raise about 43 million euros through the issue of in aggregate 614,285,714 New Ordinary Shares at an issue price of 0.07 euro per New Ordinary Share.Says 430,812,954 New Ordinary Shares are to be issued through the Firm Placing and 183,472,760 New Ordinary Shares to be issued through the Placing and Open Offer.Says the Open Offer closed for acceptances on Dec.13.Says it has received valid acceptances under the Open Offer in respect of 158,321,730 Open Offer Shares from Qualifying Shareholders, which represents about 86.3 pct of the Open Offer Shares.Says accordingly, the remaining 25,151,030 Open Offer Shares, representing about 13.7 pct of the New Ordinary Shares to be issued through the Placing and Open Offer, have been allocated to the investors with whom they had been conditionally placed.Says following the completion of the Capital Raise (scheduled to occur on Dec. 18) and the issue of 69,325,392 New Ordinary Shares to the trustees of the Employee Benefit Trust, INM will have a total of 1,234,029,387 Ordinary Shares in issue.Says an additional 152,517,988 New Ordinary Shares are expected to be issued to Lenders on Dec. 23 in accordance with the terms of the Restructuring of which the Capital Raise forms part.Says following this INM will have a total of 1,386,547,375 Ordinary Shares in issue. 

Company Quote

0.13
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19 Dec 2014