Egide: Success of the Capital Increase
Press release Bollène, 5
September 2023 – 7:30 (CET)
A
successful
capital increase with gross proceeds of
1.9
million euros
-
Subscription applications received for
6,430,112
new shares,
i.e. a subscription rate of
217%
-
2,956,248
new shares issued for a gross amount of
€1,921,561.20
The Egide Group (Euronext Growth Paris™-
ISIN: FR0000072373 - Mnemo: ALGID), the global
specialist in the manufacture of hermetic packages and
heat-dissipating solutions for sensitive electronic components, is
today announcing the success of its capital increase with
pre-emptive subscription rights for shareholders, launched on 11
August 2023.
By the end of the subscription period, a total
of 1,294,566 shares had been applied for in respect of
shareholders’ subscription rights, 1 971,437 shares as excess
shares by shareholders and 3,164,109 shares on a free basis, giving
a subscription rate of 217%. 1,661,682 new shares were allotted to
applications for excess shares by shareholders, applying a
reduction coefficient of 2,91236150.
As the number of shares subscribed for under
either shareholders’ subscription rights or applications for excess
shares was higher than the 2,956,248 shares offered, applications
to subscribe for shares on a free basis were not fulfilled and no
shares were allotted to Compagnie Nationale de Navigation, which
had given a commitment to subscribe on a free basis for an amount
of €1,921,561.20, representing 100% of the planned capital increase
and thus guaranteeing that the transaction would be completed.
In parallel, Egide entered into on 9 August 2023
a bond issue and subscription agreement in the amount of €750,000
with Compagnie Nationale de Navigation.
Philippe Bringuier, CEO of Egide says:
I am delighted by the successful outcome of this
transaction, with applications to subscribe outstripping by 2.2
times the number of new shares available. We would like to thank
our shareholders for their trust and commitment. This is an
essential step on our strategic roadmap, enabling us to begin the
first step to turn our US subsidiaries around.
On this occasion, Egide had planned the entry of
the Compagnie Nationale de Navigation (CNN) and its President Mr.
Patrick Molis into the capital and the board of directors of the
Company in order to accompany and support it both commercially and
financially. At this stage, CNN represented by Mr. Patrick Molis
having not obtained any shares from Egide, will not be appointed
director.
The gross proceeds of the capital increase are
€1,921,561.20,
including the issue premium, corresponding to the issuing of
2,956,249
new shares at a subscription price of €0.65 per
new share.
The funds raised will in particular enable Egide
to:
- begin work on turning
around its US subsidiaries;
- recruit a sales team to
boost sales;
- finance the increase in
its working capital requirement due to higher turnover.
In addition, proceeds from the capital increase
may serve to refund the bond issue of €750,000.
Settlement of the transaction and admission of
the new shares to trading on Euronext Growth are scheduled for
7 September 2023. The new shares will bear current
dividend rights and will give entitlement, as of their issue date,
to all distributions decided by Egide as of that date. They will be
immediately fungible with Egide’s existing shares and will be
traded on the same listing line under ISIN FR0000072373.
As of 7 September 2023, Egide’s share capital
will thus be €6,651,558, divided into 13,303,116 shares with a par
value of €0.5 each.
FINANCIAL
TIMETABLE Extraordinary general
meeting: 12
September 2023
Publication of results for the six months to 30
June 2023:
26
October 2023
CONTACTS
Egide –
Philippe Bringuier – CEO and CFO – +33 4 90 30 35
94 – pbringuier@fr.egide-group.com
FIN’EXTENSO – Isabelle
Aprile – Media Relations – +33 1 39 97 61 22 –
i.aprile@finextenso.fr
About the
Egide Group – You can find all
the latest news about the Group online at:
www.egide-group.com and
LinkedIn
Egide is an
international group specialising in the manufacture of hermetic
packages and heat-dissipating solutions for sensitive electronic
components. We are active in cutting-edge markets with high
technological barriers in all critical environments (thermal
imaging, optoelectronics, hyper-frequency components, power
packages, etc.). Egide is the only dedicated global player and has
manufacturing operations in France and the United States.
Egide is listed
on Euronext Growth Paris™- ISIN: FR0000072373 -
Mnemo: ALGID
- Egide-Capital-increase-results-Press-Release-09052023-EN
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