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BRIEF-Borgosesia launches share swap offer on own share capital
September 29, 2017 / 9:38 AM / 20 days ago

BRIEF-Borgosesia launches share swap offer on own share capital

Sept 29 (Reuters) - BORGOSESIA SPA:

* SAID ON THURSDAY IT RESOLVED TO LAUNCH A VOLUNTARY SHARE SWAP OFFER ON 64.3 PCT OF ITS OWN SHARE CAPITAL

* SHARE SWAP OFFER CONCERNS 24.1 MLN ORDINARY SHARES AND 0.9 MLN SAVINGS SHARES OF BORGOSESIA

* SHARES WILL BE EXCHANGED FOR SHARES ISSUED BY UNIT KRONOS

* KRONOS IS A COMPANY WHOSE SOLE AIM IS THE ASSET DISPOSAL AND DEBT REPAYMENT OF BORGOSESIA

* AT THE LAUNCH OF THE OFFER, BORGOSESIA OWNS 19.5 PCT OF ITS OWN SHARE CAPITAL

* WILL GIVE ONE KRONOS SHARE PER EACH BORGOSESIA SHARE, WHOSE CASH VALUE IS EQUAL TO EUR 0.8

* DOES NOT INTEND TO DELIST FROM THE STOCK EXCHANGE, WILL RESTORE REQUIRED FREE FLOAT IF NECESSARY

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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