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Results of the capital increase through a rights issue at the end of the option period
2009-04-21 12.16
RESULTS OF THE CAPITAL INCREASE THROUGH A RIGHTS ISSUE AT THE END OF THE OPTION
PERIOD
-
PRE-EMPTIVE OFFERING SUCCESSFULLY CONCLUDED WITH THE SUBSCRIPTION OF 98.71% OF THE SHARE CAPITAL INCREASE
-
FROM 23 APRIL UNOPTED RIGHTS WILL BE TRADED ON THE STOCK EXCHANGE
Turin
, 21 April
2009 - SEAT Pagine Gialle S.p.A. announces that on 17 April 2009, the pre-emptive offering
of ordinary shares deriving from the capital increase to the Company's shareholders has
concluded.
During the offering period, which had started on 30 March 2009, 41,186,760
option rights were exercised and 1,861,641,552 newly issued ordinary shares of SEAT Pagine Gialle
S.p.A. were underwritten, equal to 98.71% of the maximum number of 1,885,982,430 shares included in
the Offering, for a total value of €197,334,004.51.
"The offering's success, in addition to demonstrating that we have the full support of our
shareholders (new and historical alike), will allow the Company to achieve the goals underlying the
transaction, i.e. obtain the financial flexibility needed to implement the 2009/2011 Strategic
Plan, which aims to develop the business in Italy, and Internet activities in particular,"
commented the Company's CFO, Massimo Cristofori.
This will be possible by investing in innovation and launching a cost-cutting plan to support
operating margins and the generation of cash flow to service debt. In this regard, it should be
recalled that the 50% of the proceeds of the capital increase will be allocated towards early
repayment of Tranche A of the Senior Loan Agreement in force with The Royal Bank of Scotland Plc,
Milan Branch, while the remainder will be used to achieve the goals set out in the Strategic
Plan."
At the end of the option period, 538,515 option rights remained unopted; these
options can be used to subscribe a total of 24,340,878 newly issued ordinary shares of SEAT Pagine
Gialle S.p.A., for an overall value of € 2,580,133.07.
Unexercised option rights will be offered on the Italian stock exchange by
SEAT Pagine Gialle S.p.A. pursuant to article 2441, paragraph three, of the Italian Civil Code,
through Mediobanca - Banca di Credito Finanziario S.p.A. during the sessions of 23, 24, 27, 28 and
29 April 2009. All available rights will be offered during the first session; after the first
session, any remaining rights not placed during the previous days will be offered during the
subsequent sessions.
The above-mentioned rights will be made available to purchasers at Monte
Titoli S.p.A. and can be used to subscribe SEAT Pagine Gialle S.p.A.'s newly issued ordinary
shares, devoid of nominal value, with regular dividend entitlement, at a price of €0.106 per share,
at a ratio of 226 new shares per 5 rights.
The subscription of new ordinary shares will have to be made through
authorised intermediaries that participate in the central depository system of Monte Titoli S.p.A.
by 30 April 2009, after which the option rights will become null and void.
Alfieri, CVC Nominee and Investitori Permira, the main shareholders of Seat
Pagine Gialle S.p.A., in compliance with the commitment they had undertaken and announced to the
Company, subscribed approximately 49.6% of the overall amount of the capital increase, for a total
amount of about € 99.2
.
Mediobanca - Banca di Credito Finanziario S.p.A. undertook to subscribe the
portion of capital increase that remains unopted at the end of the option rights trading
period.
The Prospectus of the pre-emptive offering is available at
CONSOB offices, at the registered and secondary offices of the Company (Milan, Via Grosio
10/4 and Turin, Corso Mortara 22), at Borsa Italiana S.p.A., Monte Titoli S.p.A., and on the
Company's website.
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Il presente comunicato stampa non può essere pubblicato o distribuito negli Stati Uniti, in
Canada, Australia o Giappone.
Il presente documento non costituisce un'offerta di strumenti finanziari negli Stati Uniti,
in Canada, Australia o Giappone nonché in altro Stato in cui tale offerta non è consentita in
assenza dell'autorizzazione delle competenti autorità. Il comunicato inoltre non costituisce né è
parte di un'offerta o sollecitazione a sottoscrivere gli strumenti finanziari cui viene fatto
riferimento. Tali strumenti finanziari non sono stati e non verranno registrati ai sensi del U.S.
Securities Act del 1933 (il "Securities Act") e non possono essere offerti o venduti negli Stati
Uniti, e a o per il beneficio di "US Persons" (come definite nel Securities Act), salvo ai
sensi di esenzioni applicabili. La distribuzione di questo comunicato potrebbe essere vietata
o limitata ai sensi delle leggi e dei regolamenti applicabili in alcuni paesi.
These written materials are not for distribution in the United States, Canada, Australia or
Japan.
The information contained herein does not constitute an offer of securities for sale in the
United States, Canada, Australia or Japan or in any other jurisdiction where such sale is unlawful.
These materials do not constitute or form part of an offer to sell or the solicitation of an
offer to buy the securities discussed herein. The securities mentioned herein have not been,
and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States or to or for the account or benefit of
U.S. persons absent registration or an exemption from the registration requirements of the
Securities Act. It may be unlawful to distribute these materials in certain
jurisdictions.
*************
Seat Pagine Gialle Communications
Tel. +39.011.435.3030 – fax +39.011.435.3040
Comunicazione.stampa@seat.it
Investor Relations Seat Pagine Gialle
+39.011.435.2600
Investor.relations@seat.it
Seat Pagine Gialle S.p.A. Legal and Corporate Affairs
ufficio.societario@seat.it
Barabino & Partners
Tel. +39 02 72.02.35.35
Mob +39 331. 57.45.171
Federico Vercellino –
f.vercellino@barabino.it
Attachment
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©2007 SEAT Pagine Gialle P.IVA 03970540963