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BRIEF-Borgosesia SpA in liquidazione announces shares exchange offer
June 28, 2017 / 9:35 AM / 2 months ago

BRIEF-Borgosesia SpA in liquidazione announces shares exchange offer

June 28 (Reuters) - BORGOSESIA SPA IN LIQUIDAZIONE :

* ANNOUNCED ON TUESDAY THAT LIQUIDATORS, IN ACCORDANCE WITH RESTRUCTURING PLAN SIGNED ON JUNE 9, HAVE DECIDED TO CONDUCT A DEPOSIT DISTRIBUTION IN RELATION TO LIQUIDATION, VIA PUBLIC EXCHANGE OFFER FOR A TOTAL OF 24,059,569 ORDINARY SHARES AND 894,412 SAVINGS SHARES OF THE COMPANY

* THE OFFER PROVIDES EXCHANGE BETWEEN CO'S SHARES AND SHARES OF NEW ENTITY FULLY OWNED BY THE COMPANY AND NAMED KRONOS SPA (KRONOS), IN WHICH THE COMPANY WILL HAVE PRE-ALLOCATED ALMOST ALL OF ITS ASSETS

* AS A RESULT OF THE EXCHANGE OFFER SHAREHOLDERS WILL IN ESSENCE RECEIVE A FRACTION OF BORGOSESIA ASSETS, SUBJECT TO CREATION OF KRONOS, PROPORTIONALLY ACCORDING TO THEIR PARTICIPATION IN THE EXCHANGE OFFER

* THE COMPANY CALLED FOR AN ORDINARY AND EXTRAORDINARY SHAREHOLDERS MEETING TO VOTE ON THE PROPOSAL

Source text: reut.rs/2sZJAvw, reut.rs/2s0voBv

Further company coverage: (Gdynia Newsroom)

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