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Provider: Reuters Investment Profile
Provider: Directors Deals Ltd.
Provider: Wright Reports
Provider: Wright Reports

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Tulikivi Oyj Announces New Shares Issue

Tuesday, 8 Oct 2013 06:45am EDT 

Tulikivi Oyj announced that the Board of Directors of the Company has decided on a directed share issue in a maximum amount of approximately EUR 7.5 million where new class A shares in the Company (the Offer Shares) are offered, in deviation from the shareholders' pre-emptive right to subscription, to the public in Finland (the Share Issue). The Company offers a maximum of 22,727,273 Offer Shares which prior to the Share Issue corresponds to approximately 61.2% of the Company's shares and approximately 18.5% of the votes conferred by those shares. The grounds for the derogation from the shareholders' pre-emptive subscription right are that the capital raised by the Share Issue will be used to strengthen the balance sheet and financial position. A number of Finnish institutional investors as well as certain other investors have undertaken to subscribe for Offer Shares in a maximum amount of approximately EUR 6.1 million. The subscription period commences on October 11, 2013 at 9:30 a.m. and expires on October 17, 2013 at 4:30 p.m. at the latest. The Company's Board of Directors may decide to discontinue the subscription period. However, the Subscription Period may not be closed during the first three days or between 9:30 a.m. and 4:30 p.m. The subscription price is EUR 0.33 per Offer Share. 

Company Quote

-0.01 -3.33%
11 Apr 2014