Tallinn, 2013-05-13 16:26 CEST (GLOBE NEWSWIRE) --
The shareholders meeting of 5th of April 2013 decided to conditionally increase the share capital of AS Pro Kapital Grupp, by issuing up to 1 400 000 new shares of the Company.
The offering of new shares of AS Pro Kapital Grupp took place from 26th of April 2013 until 10th of May 2013.
Today the Council of AS Pro Kapital Grupp allocated the subscribed shares to the investors. All investors received the full amount of shares each investor subscribed for. Chairman of the Management Board Paolo Michelozzi also participated in the subscription of the new shares and subscribed and was allocated 87 500 shares of the company.
In total 921 153 shares were subscribed for and AS Pro Kapital Grupp will receive gross proceeds of 1 658 075,40 Euros for the subscribed shares.
The Management Board of AS Pro Kapital Grupp decided to cancel 478 847 shares, which were not subscribed for.
Paolo Michelozzi, CEO of AS Pro Kapital Grupp commented on the results of the subscription: "The results show that even in the conditions of unsecure perspective of global financial markets there is a positive interest and belief in potential of Baltic real estate market. Significant part of subscriptions were made by the existing shareholders of the company who know the quality of Pro Kapital Grupp's investment portfolio and believe in the development of real estate market in Estonia, Latvia and Lithuania, as well as in their economical growth in general. The result of this share subscription allows the company to move on in finalizing the preparations for the launch of the new development projects and strengthens the company’s financial position. As announced before the first three projects to be developed are shopping mall in Tallinn on Peterburi road, Tondi residential complex in Tallinn and residential complex in Riga on Tallinnas street."
On May 7th 2013, the Management Board of NASDAQ OMX Tallinn stock exchange decided to approve the additional listing application by AS Pro Kapital Grupp and to list up to 1 400 000 additional shares in the Baltic Secondary List after the following conditions are met:
• the Offering has been completed according to the Principles described in the offering prospectus and the offering results are disclosed;
• the Offer Shares have been transferred to the securities accounts of new investors in Estonian CSD;
• Offer Shares have been converted into main shares (ISIN: EE3100006040) in Estonian CSD;
• after meeting the aforementioned conditions, the Company has submitted the respective report to the exchange.
Trading with additional shares will start on the next trading day after meeting the aforementioned conditions.
On 15th of May 2013 the new shares will be transferred to the securities’ accounts of the Investors.
16th of May 2013 is the planned date for the new shares to be admitted to trading on the regulated market (Secondary List) operated by NASDAQ OMX Tallinn AS.
Iveta Vanaga
Head of Investor Relations
Phone: +37129239064
E-mail: iveta@prokapital.lv