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2007-11-28 13:24:26 CET 2007-11-28 13:24:26 CET REGULATED INFORMATION Atlantic Airways P/F - Fyrirtækjafréttir- 33% hlutur í Atlantic Airways seldurIn the period 19-27 November 2007 all shares offered for sale in this first privatisation round of Atlantic Airways were sold. The final price fixed on basis of the bookbuilding process is DKK 261 per share corresponding to the maximum price in the offered price range. In the period 19-27 november investors have had the opportunity to invest in yet another Faroese company about to be listed on a stock exchange. Prior to the subscription period 155.250 shares were allocated to investors willing to order minimum 20,000 shares in a bookbuilding process, 155,250 shares were allocated to investors ordering up to 20,000 shares and 31,050 shares were allocated to the employees of Atlantic Airways. Due to the fact that the demand from the larger investors was greater than the demand from the smaller investors the final allocation is as follows: • 180.959 shares corresponding to DKK 47.2 million were allocated investors ordering minimum 20,000 shares • 139.380 shares corresponding to DKK 36.4 million were allocated investors ordering up to 20,000 shares • 21.211 shares corresponding to DKK 5.5 million were allocated the employees of Atlantic Airways Only orders from investors ordering minimum 20,000 shares were reduced in accordance with the rules described in the prospectus published 14 November 2007. Investors ordering up to 20,000 shares and the employees of Atlantic Airways will be allocated the shares they subscribed for. On basis of the bookbuilding process the Ministry of Trade and Industry in consultation with Kaupthing Bank has fixed the final share price at DKK 261 per share corresponding to the maximum price in the offered price range. On basis of the fixed share price the total value of Atlantic Airways share capital is DKK 270 million. In the subscription period 1,370 investors have chosen to buy shares in the Faroese airline company. Even though the offering was not marketed outside Faroe Islands foreign investors are to be found both among the larger and smaller investors. Total proceeds from the offering is DKK 89.1 million. Net proceeds deducted the costs related to the offering will go to the Faroese Treasury. After the first 33% of Atlantic Airways has been sold the minister of trade and industry, Bjarni Djurholm, states: ”We are pleased with that fact that the first step of the privatisation of Atlantic Airways has been carried through. We believe the new sharesholders will have a positive influence on the company and appreciate that so many of Atlantic Airways employees chose to become shareholders in the company." |
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