GO plc – Extension of subscription period
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GO plc – Extension of subscription period

December 12, 2013
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

GO plc announced that  Forthnet SA (‘Forthnet’) has earlier today issued an announcement, notifying its shareholders, of its Board of Directors’ resolution of the 11th December 2013 for a time extension in the exercise and trading period of the pre-emption rights regarding the share capital increase of the company.  The company announcement issued by Forthnet is being reproduced below:

FORTHNET S.A.

ANNOUNCEMENT

NEW SUBSCRIPTION PERIOD: 10/12/2013- 03/01/2014

NEW TRADING PERIOD OF THE PRE-EMPTION RIGHTS: 10/12/2013 -27/12/2013

 

The Company under the name HELLENIC COMPANY OF TELECOMMUNICATIONS AND TELEMATICS APPLICATIONS SOCIETE ANONYME S.A. (hereinafter the “Company” or “Forthnet S.A.”) notifies the Shareholders of its Board of Directors’ resolution of 11/12/2013 for a time extension in the exercise and trading period of the pre emption rights regarding the share capital increase of the Company.

 

Specifically, the end of the trading period of the pre-emption rights in the electronic transactions systems of the ASE is defined for the termination of the session of the ASE of the 27th of December, 2013, while the end of the period for the exercise of the rights is defined to be on the 3rd of January, 2014. It is reminded that existing shareholders have a right to participate in the share capital increase at a ratio of fifteen (15) new common registered shares to two (2) old ones.

 

In total up to 97,144,575 new common registered shares, of a nominal value of 0.30 Euros each (hereinafter “New Shares), will be distributed. The issue price of the New Shares is 0.30 € per New Share (hereinafter “Issue Price”).

From 04/12/2013, the shares of the Company will be traded in the Athens Stock Exchange without the preemption right. Beneficiaries of the pre-emption rights are the shareholders registered on the shareholders’  registry of Dematerialized Securities System on December 6th 2013 as well as those who are going to acquire pre-emption rights during their trading period.

 

Pre-emption Rights will be exercised during business days and hours, either through the operator of the Beneficiary’s securities account (Brokerage Firm or Custodian Bank), or directly at Alpha Bank’s branches (for those Beneficiaries who do not wish to exercise the Pre-emption Rights through the operators of their securities account).

 

The Beneficiaries who wish to exercise their Pre-emption Rights through their operators should request such exercise from their said operators.

 

In order to exercise their Pre-emption Rights through Alpha Bank, Beneficiaries should provide the relevant Rights Undertaking Certificate from HELLENIC EXCHANGES S.A. (hereinafter “HELEX”) and at the same time deposit in cash the price of the New Shares that correspond to the exercised Pre-emption Rights.

 

Specifically, for the exercise of the Pre-emption Rights in the branches of Alpha Bank, their holders should follow the following procedure:

 

a) To produce their Identity card, the number of their tax register, the printing of the DSS particulars, as well as the relevant Pre-emption Rights Blocking Certificate for the exercise of a pre-emption right, that they should seek from the operator of their account or by HELEX, if their shares are in the Special account of the DSS.

 

b) To declare during the exercise of their rights the number of the D.S.S. investor register, the number of the securities account in the DSS and the authorized operator of their securities account to which they wish their shares to be registered.

 

c) To deposit to a specific account that has been opened for the present increase, the total value of the New Shares that correspond to their exercised pre-emption right.

 

The Payment shall be effected, either via deposit of cash money to the specific bank account that will be opened specifically for this increase, or by charging of a deposit account that the shareholder may keep in Alpha Bank, with an amount equal to the total value of the New Shares that correspond to the exercised pre-emption right and afterwards an equal in amount credit of the aforementioned specific account for the increase.

 

After the exercise of their pre-emption rights, the subscribed persons will receive a relevant receipt, which does not constitute a provisional stock certificate and is not negotiable on the ASE.

 

The pre-emption rights which will not be exercised until the end of the time limit of the subscriptions are amortized and cease to be in effect.

 

The investors that exercise a pre-emption right will not be charged with costs of clearing and credit of their new shares and with any other cost. For the purchase of pre-emption rights, the purchaser is charged with the anticipated expenses, which has agreed with the Investing Services Provision Societe Anonyme or the Bank with which he cooperates as well as with the charges (transfer duties) in force by HELLEX.

 

The New Shares will be given to the beneficiaries in an intangible form with credit to the Register and the Securities Account in the DSS, which has been declared by the beneficiaries.

 

Those holders of Pre-emption Rights who have fully exercised their Pre-emption Rights will be entitled to subscribe for unsubscribed shares if any (hereinafter “the Oversubscription Right”). Each beneficiary of an Oversubscription Right may exercise his Oversubscription Right for the acquisition of extra number of unsubscribed New Shares at the Issue Price and up to 1.5 times the number of New Shares to which each beneficiary is entitled following exercise of his Pre-emption Right.

 

The holders of the Pre-emption Rights, after their full exercise, will be able to exercise the Oversubscription Right on any unsubscribed New Shares, either through the operators of their securities accounts (Brokerage Firm or Custodian Bank), or directly at Alpha Bank’s branches (for those beneficiaries who do not wish to exercise the Oversubscription Rights through the operators of their securities account).

 

The exercise of the Oversubscription Rights through Alpha Bank branches will be made by signing a written declaration at the branches of Alpha Bank, in which the number and the value of the New Shares that they wish to acquire will be mentioned. The exercise of the Oversubscription Right will be performed by charging of the deposit account that the subscriber maintains or will open in Alpha Bank, with an equal amount to the value of the new shares for which he exercises the Oversubscription Right. During the day of the total or partial satisfaction of the exercised Oversubscription Right of the shareholder, Alpha Bank shall proceed to the charging of this account by an amount equal to the total issue price of the new shares that will be finally disposed to the oversubscribed person and afterwards to the credit of the specific account for the increase.

 

To view the official company announcement, click here.