Final results of the public offering to subscribe to the capital increase - After a successful private placement of the scrips, existing shareholders and new investors have fully subscribed to the public offering
- On 14 March 2018 TINC launched a public offer to subscribe to maximum 6,818,182 New Shares in the framework of a capital increase in cash with non-statutory preferential rights for a maximum amount of EUR 77,727,274.80.
- The issue price was set at EUR 11.40 per New Share.
- Three non-statutory preferential rights entitled subscription to one New Share.
- During the subscription period, 84.82% of the New Shares (5,782,938 New Shares) were subscribed for by exercise of non-statutory preferential rights.
- The principal shareholders, Belfius Insurance and Gimv, exercised all of their non-statutory preferential rights.
- During the scrips private placement, 15.18% of the New Shares (1,035,244 New Shares) were subscribed to by exercise of scrips.
- The net proceeds of the non-exercised non-statutory preferential rights amount to EUR 0.10 per coupon no. 6, whereby the total amount per holder of non-exercised non-statutory preferential rights shall be rounded down to two decimal places.
- Realisation of the capital increase, payment of the subscription price and delivery of the New Shares is expected 28 March 2018.
- Delivery of the New Shares and admission to trading of the New Shares on Euronext Brussels is expected on 28 March 2018.
- TINC has requested the Financial Services and Markets Authority (FSMA) to suspend the trade in the TINC share on Euronext Brussels on 26 March 2018 until the publication of the final results of the capital increase via this press release.
Manu Vandenbulcke (CEO): “TINC is pleased with the successful completion of the second capital raising since its IPO in 2015. We welcome again that TINC is well received as a listed infrastructure platform as demonstrated by the high percentage of exercised subscription rights. This capital raising enhances the investment capacity and significance of TINC in the capital intensive infrastructure sector. The ca. EUR 78 million of new funding provides the firing power to further invest in the growth and diversification of the portfolio.”