(Finance) – The board of directors of Trevia company specializing in special foundations and land consolidations, has approved some important resolutions underlying the planned capital strengthening and debt restructuring operation. The guidelines of the financial maneuver had already been communicated on 30 September 2022.
In particular, it was deliberate a capital increase inseparable for a fee, to be offered as an option to the existing partnersfor a total amount of approx 25 million eurosincluding share premium, through the issue of a total of 78,864,329 new ordinary shares, with no par value, at an issue price per share of €0.3170, of which €0.1585 to be allocated to capital and €0.1585 to be charged with an overcharge.
Furthermore, an inseparable paid capital increase was approved, for a maximum amount of approx 26.1 million eurosthrough the issue of 82,452,906 ordinary shares, with no par value, at an issue price per share of €0.3170, to be offered, with the exclusion of the option right, to some of the financial creditors. The loan-to-equity conversion ratio is 1.25 to 1. The banks will convert loans for 33 million euros.
CDPE Investimenti and Polaris Capital Management they signed a letter of commitment to subscribe their entire share of the capital increase in option described below, as well as any shares that will remain unopted in proportion to the stakes held.