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Provider: Reuters Investment Profile
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Rnb Retail and Brands AB's AGM Resolves Share Capital Reduction and Approves Issue of New Shares

Wednesday, 27 Mar 2013 01:58pm EDT 

Rnb Retail and Brands AB announced that the Annual General Meeting (AGM) of the Company approved the Board's resolution of February 21, 2013 to issue new shares with preferential rights for the Company’s existing shareholders. Up to 6,617,010,040 shares will be issued at a subscription price of SEK 0.07, which, at full subscription, represents total rights issue proceeds of approximately SEK 463 million excluding costs related to the transaction. Additionally, the AGM resolved on the reduction of the Company’s share capital by SEK 160,462,493.47, without cancellation of shares, for allocation to a fund to be used at the discretion of the shareholders meeting. The purpose of the reduction is to enable the issue of new shares. 

Company Quote

0.7 +5.74%
19 Dec 2014