{"id":9292,"date":"2013-05-16T19:24:17","date_gmt":"2013-05-16T17:24:17","guid":{"rendered":"https:\/\/www.gruppoigd.it\/il-consiglio-di-amministrazione-di-igd-approva-le-condizioni-finali-dellaumento-di-capitale-riservato-ai-soggetti-aventi-diritto-al-dividendo-per-lesercizio-2012-c-d-dividend-reinvestment-option\/"},"modified":"2018-07-03T22:47:34","modified_gmt":"2018-07-03T20:47:34","slug":"il-consiglio-di-amministrazione-di-igd-approva-le-condizioni-finali-dellaumento-di-capitale-riservato-ai-soggetti-aventi-diritto-al-dividendo-per-lesercizio-2012-c-d-dividend-reinvestment-option","status":"publish","type":"post","link":"https:\/\/www.gruppoigd.it\/en\/il-consiglio-di-amministrazione-di-igd-approva-le-condizioni-finali-dellaumento-di-capitale-riservato-ai-soggetti-aventi-diritto-al-dividendo-per-lesercizio-2012-c-d-dividend-reinvestment-option\/","title":{"rendered":"The Board of Directors approves the final conditions of the capital increase, reserved for 2012 dividend recipients (the \u201cDividend Reinvestment Option\u201d)"},"content":{"rendered":"<div class=\"intro\">\n<ul>\n<li><strong>the subscription price: \u20ac 0.75 per share<\/strong><\/li>\n<li><strong>the exchange ratio set at two new ordinary share for every twenty-seven ordinary shares held on which the 2012 dividend was paid<\/strong><\/li>\n<\/ul>\n<\/div>\n<div class=\"body\">\n<p class=\" text-justify\">Today the Board of Directors of IGD &#8211; Immobiliare Grande Distribuzione SIIQ S.p.A. &#8211; in execution of the shareholders\u2019 resolution of 19 April 2012 to approve the capital increase,\u00a0 excluding pre-emption rights, of up to a maximum of the 10%\u00a0 of the Company&#8217;s pre-existing share capital, pursuant to Art. 2441, fourth paragraph, second sentence of the Italian Civil Code, reserved for 2011 dividend recipients, for an amount not to exceed 80% of the distributable dividends\u00a0 or \u20ac19,089,451 \u2013 determined the definitive conditions of this increase based on the criteria established during the Annual General Meeting.<\/p>\n<p class=\" text-justify\">The capital increase will be done through the issue of a maximum of 23,633,236 ordinary shares without a stated par value, with dividend rights, which will rank \u00a0passu with existing shares, to be offered in subscription to the 2012 dividend recipients, at a price of Euro 0.75 per share, and charged entirely to share capital for up to a maximum of \u00a0\u20ac 17,724,927. The issue price of the new shares was determined based on the criteria set during the extraordinary Annual General Meeting held on 18 April 2013 and is equal to the arithmetic average of the stock\u2019s official closing price recorded during the eight trading sessions prior to today\u2019s date adjusted by\u00a0 (i) subtracting the amount of the 2012 cash dividend and (ii) applying a discount of \u00a07.16%.<\/p>\n<p class=\" text-justify\">The newly issued shares will be offered at an exchange ratio of two new ordinary shares for every twenty-seven ordinary shares on which the 2012 dividend was paid. The share subscription rights, represented by coupon n. 11, are\u00a0 neither negotiable nor transferrable.<\/p>\n<p class=\" text-justify\">Following the capital increase, the conversion price of the convertible bond loan \u00a0\u201cEUR 230,000,000 3.50 per cent. Convertible Bonds due 2013\u201d will be changed, in accordance withe Art. 6(vi) of the Convertible Bond Loan Regulations, from \u20ac2.757 to \u20ac2.7139\u00a0with effect from the date of issue of shares coming\u00a0 out the capital increase.<\/p>\n<p class=\" text-justify\">The Registration Document, Informative Note on the Financial Instruments and the Summary Note relative to the shares offered and the capital increase will be filed, in accordance with the law, with Consob and made available to the public for the entire offering period at IGD\u2019s registered office in Ravenna, via Agro Pontino, n. 13, as well as on the websites of both IGD (<a href=\"https:\/\/www.gruppoigd.it\/\">www.gruppoigd.it<\/a>) and Borsa Italiana S.p.A.<\/p>\n<p class=\" text-justify\">\u201c<em>Our strategy to further strengthen our capital structure continues, giving, for the second year in a row, IGD dividend recipients the possibility to reinvest a part, not to exceed 80%, of their gross dividend in the Group<\/em>\u201d\u00a0<strong>Claudio Albertini, Chief Executive Officer of IGD<\/strong>\u00a0\u2013 Immobiliare Grande Distribuzione SIIQ S.p.A.stated. \u201c<em>We hope the acceptances will be high again this year and that our shareholders continue to believe in our Company<\/em>\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today the Board of Directors of IGD determined the definitive conditions of this increase based on the criteria established during the Annual General Meeting.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[94],"class_list":["post-9292","post","type-post","status-publish","format-standard","hentry","category-price-sensitive-en","tag-operazioni-straordinarie-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/9292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/comments?post=9292"}],"version-history":[{"count":2,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/9292\/revisions"}],"predecessor-version":[{"id":10039,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/9292\/revisions\/10039"}],"wp:attachment":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/media?parent=9292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/categories?post=9292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/tags?post=9292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}