Societe de la Tour Eiffel SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Societe de la Tour Eiffel SA Announces Subscription to a Contingent Equity Line
Societe de la Tour Eiffel SA announced that it is taking out a three year contingent equity line with Kepler Capital Markets (Kepler) backed by the issue of warrants exercisable by tranches at the Company's discretion. The warrants that are subscribed by Kepler can only be exercised at the request of Societe de la Tour Eiffel SA within three years and in maximum tranches of 75 000 new shares. The total amount of new shares that could be issued over the three years period will not exceed 600 000, i.e. 9.8% of the current total number. For each tranche, the issuance price will depend upon the prevailing share price discounted by no more than 4%. This discount will enable Kepler, who is a financial intermediary and has not intention of remaining a shareholder of the Company, to underwrite the subscription regardless of possible market volatility. A shareholder who owns 1% of the share capital would see his ownership reduced down to 0.91% in case the entire line is drawn upon.
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