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BRIEF-Space3: Aquafil to be listed on MTA market through merger with Space3
June 16, 2017 / 8:22 AM / 2 months ago

BRIEF-Space3: Aquafil to be listed on MTA market through merger with Space3

June 16 (Reuters) - SPACE3 SPA:

* SAID ON THURSDAY IT APPROVED THE BUSINESS COMBINATION THROUGH THE MERGER BY INCORPORATION OF AQUAFIL SPA INTO SPACE3 SPA

* FOLLOWING THE BUSINESS COMBINATION, AQUAFIL TO BE LISTED ON THE MTA MARKET, STAR SEGMENT WITH A FREE FLOAT OF ABOUT 37 PCT

* THANKS TO THE MERGER WITH SPACE3, AQUAFIL WILL BENEFIT NEW FINANCIAL RESOURCES OF UP TO 45 MILLION EUROS, ACCELERATING ITS PLANS FOR GROWTH AND TECHNOLOGICAL INNOVATION

* ACCORDING TO THE MERGER, SPACE3 TO ACQUIRE APPROXIMATELY 24 PCT OF AQUAFIL'S CAPITAL FOR 108 MILLION EUROS AND THEN TO MERGE WITH VALUATION OF SPACE3'S SHARE OF 10 EUROS

* THE EXCHANGE RATIO WAS DETERMINED AS 1,69543 NEWLY ISSUED SPACE3 SHARES FOR EACH AQUAFIL SHARE

* SPACE3 TO IMPLEMENT THE MERGER BY A CAPITAL INCREASE AT THE EXCHANGE RATE OF UP TO A NOMINAL VALUE OF 450 MILLION EUROS TO BE EXECUTED BY FEB. 28, 2018

Source text: reut.rs/2svTBm4

Further company coverage: (Gdynia Newsroom)

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