2 for 5 Rights Issue
A 2 for 5 Rights Issue by Trident Estates plc of approximately €15,000,000 worth of new ordinary shares.
Reference is made to the announcement made by the company on the 27 September in which it was stated that an application for admissibility to listing to the Listing Authority had been made, requesting approval of a prospectus in relation to the Rights Issue.
The company announces that it has been granted approval by the Listing Authority for the admissibility to listing on the Official List of the Malta Stock Exchange of up to 12,000,003 new ordinary shares in the company having a nominal value of €1 each which will be offered, as a result of the Rights Issue, to the shareholders on the register of the company at the Central Securities Depository of the Malta Stock Exchange as at the close of business on 4 October.
Shareholders shall be entitled to subscribe to two new ordinary shares for every five ordinary shares (or parts thereof, subject to rounding) held as at the close of business on 4 October at a Rights Issue price of €1.25 per share.
Any lapsed rights will be offered to
(i) the company’s shareholders who would have accepted their proportionate entitlement in full and applied for lapsed rights and
(ii) the general public through an intermediaries’
offer, in this order of preference.
The company’s three major shareholders have undertaken to subscribe to their proportionate entitlement of the Rights Issue. If subscribed to in full, the Rights Issue will raise gross proceeds of approximately €15,000,000.
Full details of the Rights Issue are included in the Prospectus dated 7 October which will be made available on the company’s website at https://tridentestatesplc.com/rights-issue-2019 as from 9 October. A printed copy of the Prospectus may be obtained either from the registered office of the Company or from authorised Collecting Agents as from 14 October.