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MEMSCAP SA Announces Results of Rights Issue with Preferential Subscription Rights


Monday, 22 Jul 2013 12:38pm EDT 

MEMSCAP SA announced the results of its capital increase with preferential subscription rights (PSRs) for existing shareholders which was launched on June 28, 2013 and ran through July 15, 2013. The total demand related to the rights issue amounted to 1,020,530 shares (compared to 758,876 shares initially offered before the triggering of the extension clause), representing an over-subscription of 134% and a total demand of EUR 1,408,331. Due to this high demand, MEMSCAP SA’s board of directors decided to exercise the extension clause in full, bringing the total number of shares to be issued to 872,707 and the final proceeds of the rights issue to EUR 1,204,336. The exercise of irreducible preferential subscription rights covered 550,960 new shares, representing 73% of the 758,876 shares initially offered before the exercise of the extension clause. Subscriptions for 469,570 shares on a reducible basis were received and will therefore be only partially satisfied by the issue of 321,747 new shares. 

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