Overview of the Share Capital Increase
EfTEN Real Estate Fund AS is poised to expand its financial base as authorized by its shareholders during the recent Annual General Meeting. The Supervisory Board received the green light to explore avenues for increasing the fund's share capital through either public or private offerings, with a significant provision regarding the exclusion of pre-emptive subscription rights for current shareholders. This strategic decision aims to facilitate the fund's ongoing investment initiatives.
Details of the Directed Share Issue
In alignment with the shareholders' endorsement, the fund aims to conduct a directed share issue, with substantial plans to accumulate approximately 1.6 million euros in fresh capital, largely sourced from local investments within Lithuania. The price per share is pegged to the average closing price of the fund's shares on the Nasdaq Tallinn Stock Exchange over a 60-day period leading up to the Supervisory Board's resolution, calculated at 19.11 euros per share.
Implications of the New Share Issuance
Through this issuance, a total of 84,506 new shares are planned for release, each bearing a nominal value of 10 euros. As a result, the fund's new projected share capital would reach approximately 115,248,460 euros. The funds raised will primarily support the expansion of the fund's investment projects, allowing EfTEN Real Estate Fund AS to solidify its strategy and further amplify growth within its operational framework.
Contact Information
For inquiries related to this share offering, stakeholders are encouraged to reach out to Viljar Arakas, a member of the board. You may contact him at Tel. 655 9515 or via email at viljar.arakas@eften.ee. This proactive communication channel aims to keep investors and interested parties informed about the latest developments in the fund's capital strategies.
Frequently Asked Questions
What is the purpose of the directed share issue?
The share issue aims to raise capital to finance further investments aligned with the fund's strategic objectives.
How much capital is EfTEN Real Estate Fund AS looking to raise?
The fund is targeting a total of 1.6 million euros in fresh capital.
What is the price per new share?
The shares will be priced at 19.11 euros each, based on the historical average.
How many new shares will be issued?
A total of 84,506 new shares are planned for issuance.
Who should I contact for more information?
For more details, reach out to Viljar Arakas at Tel. 655 9515 or through email at viljar.arakas@eften.ee.
