The increase will be carried out by issuing 40 million new ordinary shares with a subscription price of 1 euro, with no premium
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Shareholders will have a preferential subscription right and may acquire shares in proportion to their stake in the capital
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La Seda de Barcelona (LSB), the multinational listed on the Spanish Stock Exchange, pioneer in PET recycling and one of the European leaders in plastic packaging, has published today in the Official Gazette of the Spanish Mercantile Registry (BORME) the notice of its capital increase, following approval of the prospectus by the National Securities Market Commission. The preferential subscription period for the new shares is scheduled to start tomorrow, and will last for fifteen (15) calendar days, from 15th to 29th June.
The capital increase, for 40 million euros, will be carried out by issuing 40 million new ordinary shares with a subscription price of 1 euro per share, so the shares will be issued at par, with no premium.
The increase will be carried out with a preferential subscription right for the shareholders of LSB, who will have the opportunity to subscribe new shares in proportion to their stake in the share capital. For every 68 preferential subscription rights held by a shareholder, 75 new shares may be subscribed.
In the event the entire issue is not covered after the first period, an additional share assignment period will commence, in which any shares not subscribed in the previous period will be distributed among the shareholders and/or holders of subscription rights. These shares will be awarded within the two stock exchange business days following the fourth stock exchange business day after the end of the term in which to exercise the preferential subscription right.
In the event that these two rounds are not sufficient to cover the entire issue, a discretionary period of assignment will start, at the discretion of the Board of Directors, during which the remaining shares will be distributed. This period, which would start the day after the end of the additional share assignment period, would have a maximum duration of two (2) stock exchange business days and is open to any natural or legal person to whom shares have been offered by the Board of Directors.
The object of the capital increase, approved by the General Shareholders’ Meeting of LSB held in May, is to finance the company’s growth project for APPE, the company’s plastic packaging division, and consolidate its international leadership.
The prospectus for the Capital Increase is available to the public at the registered office of La Seda de Barcelona and, in electronic format, on the website of the National Securities Market Commission (www.cnmv.es) and on the Company’s website (www.laseda.es).