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KappAhl AB Announces Results of Rights Issue

Thursday, 27 Dec 2012 08:00am EST 

KappAhl AB announced that the new share issue in KappAhl with preferential rights for the Company's shareholders, for which the subscription period ended on December 20, 2012, has been fully subscribed. Approximately 98.75% of the shares offered have been subscribed for with subscription rights and approximately 1.25% of the shares offered have been allocated to persons that have subscribed for shares without subscription rights. In total, applications for subscription of shares without subscription rights have been received corresponding to approximately 51% of the shares offered. Hence, the rights issue guarantee undertakings have not been made use of. Through the rights issue, KappAhl receives approximately SEK 383 million before the transaction costs. The share capital will increase by SEK 32,160,000 from SEK 32,160,000 to SEK 64,320,000, and the number of shares will increase by 225,120,000 from 225,120,000 shares to 450,240,000 shares when the rights issue has been registered. Following the rights issue, KappAhl has completed recalculation of the 6,744,000 warrants (Series 2012/2015). After conversion, each warrant entitles to subscribe for 1.58 new shares at a subscription price of SEK 4.80 per share. The warrants can thus increase the number of shares in KappAhl by a maximum of 10,621,800 and the share capital by a maximum of SEK 1,517,400. Carnegie is acting as financial advisor and Setterwalls Advokatbyra is acting as legal advisor to KappAhl. 

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