Eniro's rights offering 2009
Eniro announces fully committed and underwritten rights offering of SEK 2.5 bn to strengthen its financial position.
Summary
- Rights offering of approximately SEK 2.5 bn with preferential rights for shareholders in Eniro
- The rights offering is fully committed and underwritten by a combination of major shareholders in Eniro, external guarantors and a consortium of underwriting banks
- The rights offering will significantly strengthen Eniro’s balance sheet and secure continued implementation of its strategy for long term growth
- The rights offering is subject to approval at the Annual General Meeting, which is being rescheduled to May 26, 2009
- Subscription price and offer ratio to be announced on May 25, 2009
- Subscription period from June 2 to June 16, 2009
- A press conference will be held today at 10.30 CET at Hotel Anglais, Humlegårdsgatan 23, Stockholm
“I am encouraged by the strong support from our shareholders in pursuing these measures to strengthen our balance sheet. The rights offering, in combination with the previously proposed cancellation of the dividend for 2008, will give Eniro the financial flexibility to implement its strategy for long term growth and cost rationalization, thereby strengthening the company’s position as the leading search company in the Nordic media market”, says Lars Berg, Chairman of the Eniro Board.