On 29 November 2022, the Management Board of MLP Group, after obtaining the approval of the Supervisory Board, adopted a resolution on increasing the share capital by issuing up to 2,621,343 series F shares and the waiver of pre-emptive rights. The newly issued shares will represent up to 12.3% of the existing share capital (up to 10.9% after registration of the new shares’ issue), which is currently divided into 21,373,639 shares. The issue price of the issued securities will be determined in the book-building process.
The number of the Series F Shares which will be offered in the bookbuilding process will amount up to 1,310,672 (in words: one million three hundred ten thousand six hundred seventy two) Series F Shares, although taking into account the results of the bookbuilding process, the Company’s Management Board may decide to increase such number by up to additional 1,310,671 (in words: one million three hundred ten thousand six hundred seventy one) Series F Shares.
The capital raised will be used to finance the expansion of the landbank in the countries, where MLP is present.
Investors holding not less than 1.0% (213,737 shares) of the total number of MLP Group shares as of end of the day 28 November 2022, will have the right of priority to subscribe for the new shares at an amount proportional to their current ownership.
The majority shareholder ILDC (Israel Land Development Company Ltd.) has committed itself to take up new shares. It will subscribe in a number enabling it to maintain its direct and indirect share in equity (economic interest) of the Company at the current level of 41.3037%. At the same time, Company and ILDC, subject to standard exclusion, agreed, inter alia, not to sell series F shares nor to enter the market with new shares offering within, respectively, 180 days from the date of setting the issue price (lock-up period) with respect to the Company and between the date of opening of the book-building process in the accelerated book building and the date falling 180 days following first day of trading of the rights to the shares on the regulated market operated by the Warsaw Stock Exchange with respect to ILDC.
The bookbuilding process will be commenced immediately and shall last until 1 December 2022, 5:00PM. The subscription period is set to take place on 2-8 December 2022, until the final allocation on 8 December 2022. The rights to shares are expected to be listed within 2 weeks, while the registration of the issued shares in court is expected to happen by the end of the year.
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Disclaimer:
This press release has been published for information purposes only. It does not constitute nor intends to constitute any solicitation nor recommendation to undertake any investment decision to subscribe or purchase any securities issued or offered by MLP or its affiliates. The purpose of this document cannot be extended and meaning of this document shall be understand narrowly as serving purely information purposes.
