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Tecnotree Oyj Announces Final Results of Rights Offering


Friday, 29 Jun 2012 02:30am EDT 

Tecnotree Oyj announced that final result of the Company's rights offering shows that 31,394,457 shares, representing 64.1% of the total number of shares offered in the offering, were subscribed for pursuant to subscription rights. The remaining 17,602,994 shares, 35.9% of the offering, were subscribed without subscription rights and will be primarily allocated in accordance with the terms and conditions of the offering to those subscribers who have also subscribed for shares pursuant to subscription rights. Shares subscribed without subscription rights shall be allocated for subscribers who have subscribed for shares only without subscription rights. The Board of the Company has approved all subscriptions pursuant to subscription rights and subscription without subscription rights based on the allocation in accordance with terms and conditions of the offering. As a result of the rights offering, the number of ordinary shares will increase by 48,997,451 shares to 122,628,428 shares. The subscription price was EUR 0.12 per new share and the proceeds amounted to EUR 5.9 million before fees and expenses. The interim shares, representing the shares subscribed for pursuant to the subscription rights in the offering, commenced trading on June 20, 2012 on Helsinki Stock Exchange. The shares subscribed for in the offering have been registered with the Finnish Trade Register on June 29, 2012 and the interim shares shall be combined with Tecnotree's existing shares on June 29, 2012. 

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16 Apr 2014