February 27, 2020 / 7:56 AM / a month ago

BRIEF-La Perla To Launch Fully Subscribed Capital Increase Without Subscription Rights

Feb 27 (Reuters) - LA PERLA FASHION HOLDING NV:

* ANNOUNCED ON WEDNESDAY IT INTENDS TO LAUNCH FULLY SUBSCRIBED CAPITAL INCREASE WITHOUT SUBSCRIPTION RIGHTS SHORTLY

* COMPANY INTENDS TO IMPLEMENT CAPITAL INCREASE IN TWO TRANCHES WITHIN THE NEXT 14 DAYS

* FIRST TRANCHE WILL CONSIST OF 20 MILLION NEW SHARES WITHOUT SUBSCRIPTION RIGHTS AS APPROVED BY COMPANY’S SHAREHOLDERS RESOLUTION ON THE 5 DECEMBER 2019

* SECOND TRANCHE WILL CONSIST OF APPROX. 24.5 MILLION ADDITIONAL NEW SHARES TO BE ISSUED BY UTILIZING AN EXISTING AUTHORIZATION TO ISSUE NEW SHARES IN THE CAPITAL OF THE COMPANY WITHOUT SUBSCRIPTION RIGHTS

* COMPANY INTENDS TO EXCLUSIVELY SELL THE NEW SHARES TO INSTITUTIONAL INVESTORS IN PRIVATE PLACEMENTS AND AT PLACEMENT PRICE REFLECTING CURRENT TRADING; TODAY’S CLOSING PRICE WAS EUR 4.50

* LA PERLA INTENDS TO USE NET PROCEEDS TO REPAY CERTAIN AMOUNT OF GROUP’S FINANCIAL INDEBTEDNESS

* NEW SHARES WILL BE ADMITTED TO TRADING ON EURONEXT GROWTH FOLLOWING REGISTRATION OF IMPLEMENTATION OF CAPITAL INCREASE

Source text: bit.ly/2uDfL9A

Further company coverage:

Gdansk Newsroom

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