November 20, 2019 / 7:43 AM / 17 days ago

BRIEF-SCHNIGGE Wertpapierhandelsbank Implements Capital Increases From Final Insolvency Plan

Nov 20 (Reuters) - SCHNIGGE Wertpapierhandelsbank SE :

* SAID ON TUESDAY IT IMPLEMENTS THE CAPITAL INCREASES PROVIDED FOR IN THE FINAL INSOLVENCY PLAN

* IN ADDITION TO A CAPITAL INCREASE OF UP TO EUR 1 MILLION, THE INSOLVENCY PLAN PROVIDES FOR FORMER SHAREHOLDERS TO PARTICIPATE IN THE CAPITAL INCREASE ALTHOUGH THEY CURRENTLY NO LONGER HOLD ANY SHARES

* FORMER SHAREHOLDERS WERE GRANTED A SUBSCRIPTION RIGHT IN THE RATIO OF 10 TO 1 TO THE SHARE CAPITAL OF 5,204,682 SHARES. THUS, EXISTING SHAREHOLDERS CAN SUBSCRIBE FOR UP TO 520,468 SHARES

* THE SUBSCRIPTION PRICE PER SHARE IS SET AT 1.02 EURO (1 EURO NOMINAL VALUE PLUS 0.02 EURO PREMIUM)

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