Results of scrip private placement
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA
LEUVEN, Belgium – December 18, 2009 – Option NV announces that, following the scrip private placement, 100% of the public offering has now been committed to be subscribed to by existing shareholders and new investors for a total amount of EUR 20,212,155.
Today, 18 December 2009, 12,416,831 unexercised non-statutory preferential rights were offered for sale to institutional investors through a scrip private placement procedure at a price of EUR [0.01] per scrip. Investors purchasing scrips have irrevocably undertaken to exercise the scrips and subscribe to one new share per scrip at the subscription price of EUR 0.49 per share.
Since the net proceeds (after deduction of certain expenses) of the sale of the scrips divided by the number of unexercised rights is less than EUR 0.05, the holders of unexercised rights are not entitled to any payment. The net proceeds will be transferred to Option.
The gross subscribed amount for the shares offered in this placement and during the preferential right subscription period amounted to EUR 20,212,155 (subscription to a total of 41,249,296 shares at EUR 0.49 per share).
As the entire capital increase will be subscribed by existing shareholders and new investors, no shares will be taken up in the backstop provided by GIMV NV and LRM NV.
The payment of the subscription price, the realization of the capital increase and the listing of the new shares on Euronext Brussels are expected to take place on 23 December 2009.
Trading of Option shares on Euronext Brussels will resume at 3 p.m.
Commenting on the results, Jan Callewaert, CEO of Option, said: “The Board and the management are delighted to see that the offering has been a success. We would like to thank the existing and new shareholders for their confidence. Furthermore we would like to thank GIMV, LRM and ING for their support of the transaction and ING and Dexia for their credit support. Option can now further pursue the implementation of its strategy of integrating its hardware, software and service activities into a single offering. In addition, Option will continue to invest in the development of new products and market segments in order to continue to be a leader in technology innovation. ”
ING acted as sole lead manager and bookrunner in the transaction.
For the entire press release, including table with shareholding after the capital increase, click on the link below.