Capital increase for the TPS Group, listed on AIM Italia and leader in the sector of technical and engineering services in the aeronautical field, which kicked off the double capital increase decided on 5 October 2018.
Tps has communicated the final conditions for the rights issue and the reserved capital increase. As regards the former, the shareholders' meeting resolved to issue up to a maximum of 1.241.310 new ordinary shares to be offered as an option to shareholders in the ratio of 21 new shares for every 100 shares held for a value of 4 euro each and a total up to 4.965.240 euros.
The operation will start on Monday 15 October and will end on 6 November, while the rights will remain listed until 31 October.
The capital increase is aimed at obtaining new financial resources to be used to pursue the strategic, growth and development objectives of the company and its business.
With regard to the reserved capital increase, however, Tps has decided to issue a maximum of 250 thousand new ordinary shares, with the exclusion of the option right, at a price of 4 euros each for a countervalue of 1 million. These reserved shares will be offered as part of a private placement to Italian and foreign investors.
Tps group's decision comes just a few days after the balance sheet data approved by the shareholders' meeting convened to kick off the acquisition of Satiz Tpm. "The result will be - explained the managing director Alessandro Rosso together with the general manager Massimiliano Anguillesi - a strongly complementary group, which to Tps, traditionally strong in the field of technical and engineering services for the aeronautical industry but not only, brings a strong presence in the automotive sector”.
The company is planning new acquisitions and intends to “grow both internally and externally. We look forward to expanding into international markets – continued Rosso – given that now most of our business is generated in Italy. We are looking in particular at the American market, which remains fundamental also for issues of innovative capacity and where we are already present with offices in Philadelphia and Lansing in Michigan, but also at Europe and the Middle East”.
