DGAP-News Tele Columbus AG: Tele Columbus AG announces intended launch of capital increase and sets subscription price at EUR 3.25 per new share
DGAP-News: Tele Columbus AG / Key word(s): Capital Increase/Strategic Company Decision
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Tele Columbus AG announces intended launch of capital increase and sets subscription price at EUR 3.25 per new share
Berlin, 17 April 2021. Tele Columbus AG (the "Company") (ISIN: DE000TCAG172, WKN: TCAG17), one of Germany's leading fiber network operators, announces the intended launch of a capital increase by way of a rights offering in order to achieve a sustainable capital structure and to further implement its Fiber Champion strategy. The new shares for the rights offering will originate from a capital increase against contributions in cash with subscription rights for the shareholders of the Company resolved by the Company's extraordinary general shareholders' meeting on 20 January 2021 in connection with the public takeover offer by Kublai GmbH ("Kublai"). The Company expects gross proceeds from the rights offering in an amount of approximately EUR 475 million.
The management board and supervisory board of the Company today resolved that, following approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)) of the related securities prospectus, the Company will offer 146.109.887 new shares in a public rights offering in Germany.
The new shares for the rights offering will originate from a capital increase as resolved by the Company's extraordinary general shareholders' meeting on 20 January 2021 in connection with the public takeover offer by Kublai. The new shares, which will have full dividend rights as from 1 January 2021, will be offered to the Company's shareholders by means of subscription rights at a ratio of 55 to 63, i.e. 55 existing shares will entitle a shareholder to subscribe for 63 new shares. The subscription price per new share has been set at EUR 3.25. The Company does not intend to apply for trading of the subscription rights on the regulated marked (regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse).