The Board of Rcs yesterday defined the conditions of thecapital increase which will start on Monday 17 June, after the green light from Consob. The operation will go to a maximum of 421 million euro. The commitments undertaken by the shareholders ensure an already guaranteed capital increase of 380 million.
A maximum of 323.807.079 will be issued ordinary shares options offered to shareholders at a unit price of 1,235 euro (1 euro for share capital and 0,235 euro for premium), in the option ratio of three ordinary shares for each ordinary share already held, for a maximum value of approximately 400 million.
The issue price of the ordinary shares was determined by applying a discount of approximately 30% on the theoretical price (Terp) of the ordinary shares, calculated on the basis of the arithmetic mean of the official Stock Exchange prices recorded on 11, 12 and 13 June 2013 , equal to 3,298 euros.
A high of 77.878.422 is also on the way savings shares category B options offered to savings shareholders at a price of 0,268 euro, at the option ratio of three new category B savings shares for each savings share already held, for a maximum equivalent value of 21 million euro. The issue price of the new savings shares was defined at 0,716 euro, again with a discount of approximately 30% on the theoretical price.
Green light from the council also towarranty agreement subscribed by Banca Imi and Bnp Paribas, Ubi Banca, Mediobanca, Commerzbank, Banca Aletti, Banca Akros and Credit Suisse. The guarantors have undertaken to subscribe "any ordinary shares that may have remained unsubscribed following the stock market offer of unopted rights for a total maximum amount of 184,5 million euro".
Finally, the Board approved thebank debt refinancing agreement, kicking off the signing of the loan agreement with Intesa Sanpaolo, Ubi Banca, UniCredit, Bnp Paribas, Bpm and Mediobanca, containing the terms of the company's bank debt refinancing operation, for a maximum of 600 million.
After the rallies of recent days, this morning the RCS share lost almost six points to Piazza Affari.
