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2009-06-03 11:59:20 CEST 2009-06-03 12:00:29 CEST REGULATED INFORMATION Marel Food Systems hf. - Total number of voting rights and capitalPrivate placement to institutional investorsMarel Food Systems hf. (Marel) is holding a private placement to institutional investors. The purpose of the offering to further strengthen the company's liquidity, increase flexibility and reduce operational risk. New Kaupthing Bank hf. (Kaupthing) is managing the offering which will be conducted through a book-building process. The main terms of the offering are as follows: Size - Marel intends to offer 20-35 million new shares for sale to investors. Price - The offering price is expected to be between ISK 54-60 a share. This price takes into account the average listed closing price in trading in the shares since the publication of the company's 2009 first quarter results. The average closing price on the stock exchange was 59.5 for this period of 16 trading days and the closing price on 2 June 2009 was 63. Investors - The offering is being extended to a restricted group of institutional investors. Minimum subscription - Investors can subscribe for a minimum of ISK 5 million. Sale period - Kaupthing - Capital Markets will receive offers until 4:00 p.m. on Friday 5 June 2009. Offers are not standardised. The board of directors of Marel reserves the right at any time during the sale period to shorten or extend the period. Final subscription - At the end of the sale period the board of directors of Marel will determine the size of the offering, the offering price and allot subscriptions in the proposed offering. All subscriptions will be allotted at the same price. When allotting binding subscriptions the board of directors will base its decisions on the price and the amount that investors are prepared to subscribe for, how promptly they registered their interest in subscribing, and the reliability of the investors. The board of directors will also take into account the fact that it is important for the company to attract shareholders who are able and willing to support the company in the future. The board of directors of Marel reserves the right to accept or reject any offers it chooses, partly or entirely, and it may reject all offers. The manager of the offering will inform investors of how many shares they have been allotted and the send them a special form in order to confirm their binding subscriptions. This form contains all information on deadlines for subscriptions, due dates for paying subscriptions, the delivery of new shares and other terms of the offering. The proposed offering was resolved by the board of directors of Marel on this date, 3 June 2009. The board of directors bases its decision on the authorisation to increase share capital as granted at the company's annual general meeting on 10 March 2009. Marel will subsequently request that the new shares be admitted for trading on Nasdaq OMX Iceland (OMX ICE). For further information please contact: Theo Hoen, CEO of Marel on +354 563 8000 Arnar Ragnarsson, Head of Investment Banking at Kaupthing Bank on + 354 444 6802 Leó Hauksson and Ríkhardur Dadason, Capital Markets at Kaupthing Bank on +354 444 7341 and +354 444 7326 |
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