On 11 March, 2014 Arco Vara issued an announcement declaring that the company has started making preparations for a possible share capital increase.
On 14 May, 2014 Arco Vara issued the invitation for the annual general meeting that will take place on 5 June, 2014. According to the invitation the second item on the agenda is “Raising Share Capital”.
In case the general meeting on 5 June, 2014 will adopt the decision for raising share capital in accordance with the proposition of the Supervisory Board, the subscription period will start on 6 June, 2014 and will last until 20 June, 2014. All together Arco Vara is planning to issue 3.5 million new shares. The nominal value of each share is 0.7 EUR and issuance price of each new share will be 1 EUR, therefore the amount of share premium will be 0.3 EUR per share. The shares will be offered to the existing shareholders, professional investors and the employees of Arco Vara group in accordance with the public offering and listing prospectus. Arco Vara is planning to publish the prospectus on 6 June, 2014 provided that the general meeting has adopted the decision for raising share capital. By issuing the new shares the pre-emptive right of subscription for the new shares derived from legislative acts will be granted to the existing shareholders.
Arco Vara AS
Tel: +372 614 4594