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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: MarketLine (a Datamonitor Company)

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Rnb Retail and Brands AB Resolves Fully Underwritten Share Issue of SEK 450 Million and Issues Q2 2012/2013 Operating Profit Guidance

Friday, 22 Feb 2013 01:05am EST 

Rnb Retail and Brands AB announced that the Board of Directors of the Company has resolved to conduct a fully underwritten share issue of approximately SEK 450 million with preferential rights for existing shareholders in Rnb Retail and Brands. The rights issue is subject to approval by the Extraordinary General Meeting to be held on March 27, 2013. The subscription price and offer ratio are expected to be announced on March 26, 2013. Trading in subscription rights is expected to take place as from April 8, 2013 up to and including April 17, 2013. The subscription period is expected to run from and including April 8, 2013 up to and including April 22, 2013. Existing shareholders representing 31% of the share capital have undertaken to subscribe for shares in the rights issue. In addition, existing shareholders have undertaken to guarantee an amount corresponding to approximately 40% of the rights issue, meaning that shareholders have granted subscription undertakings and guarantee undertakings in respect of approximately 71% of the total rights issue. Additionally, guarantee undertakings have been received from an external consortium including Carnegie Investment Bank, making the rights issue fully underwritten. The Company also announced that for Q2 2012/2013, operating profit before write-downs is expected to be in line with the same period last fiscal year. 

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