C2SAT HOLDING AB'S NEW SHARE ISSUE OVERSUBSCRIBED
(NGM:C2ST B)
Stockholm, Sweden, 28 January 2009 – C2SAT (NGM Stock Exchange, C2ST)
• 106 978 973 shares, which represent approximately 90,4 per cent of the offered shares, were subscribed for through the exercise of subscription rights. The remaining 11 340 901 shares, which represent approximately 9,6 per cent of the offered shares, will be allotted to investors who have subscribed for shares without subscription rights.
• The issue generated around SEK 29,6 million before issue costs.
Through the new share issue, the number of shares in C2SAT holding AB (publ) will increase by 118 319 874 to a total of 354 959 622 shares - each with a quota value of SEK 0,13 - and the share capital will increase by SEK 15 381 583,62 to SEK 46 144 750,86. The underwriting guarantee does not need to be utilised.
The 11 340 901 shares that have not been subscribed for with subscription rights - which represent approximately 9,6 per cent of the total number of offered shares – will, in accordance with the principles outlined in the prospectus, be allotted to investors that have subscribed for shares without subscription rights. Such noticifaction of allotment will be sent today, 28 January 2009, in the form of contract notes, and are expected to arrive tomorrow, 29 January 2009.
For every subscribed and allotted share, one (1) warrant will be allotted, free of charge. The warrants will be delivered when the Swedish Companies Registration Office (Bolagsverket) has registered the new share issue. The registration is expected at the end of week 6. C2SAT holding AB (publ) will apply to have the warrants listed on NGM Equity and trading is expected to commence when the investors have received their warrants.
One (1) warrant entail it´s holder to subscribe for one (1) new share in the company at an issue price of SEK 0,40. If the warrants are fully exercised, the company's share capital will increase by a maximum of SEK 15 381 583,62 to SEK 61 526 334,48 in total. The period for subscribing for shares with warrants runs between June 15, 2009 until June 30, 2009.
”We are delighted that the share issue was so successful. It shows that the shareholders have confidence in C2SAT and its future. We will put that confidence to good use in the years to come,” says Göte Emtander, Chairman of the Board of Directors, C2SAT holding AB (publ).
Mangold Fondkommission AB (a Swedish securities brokerage company) is the financial adviser to C2SAT holding AB (publ) in conjunction with the new share issue with preferential rights.
For more information about C2SAT, please contact:
Göte Emtander, Chairman of the Board of Directors, C2SAT holding AB (publ)
+46 8 748 01 40
About C2SAT
C2SAT communications AB, headquartered in Solna, Stockholm, Sweden is a world leader of innovative stabilised VSAT antenna systems used in two-way satellite broadband communication from vessels and vehicles in motion. C2SAT holding AB is on the NGM Stock Market Exchange and Remium is its Market Maker. C2SAT is an international registered trademark.
This press release may not, either directly or indirectly, be announced, published or distributed in or to the USA, Australia, Japan, New Zealand, South Africa or Canada or any other country where such an action would be either fully or partially subject to legal restrictions. This press release does not constitute an offer to purchase, subscribe to or in any other way trade with securities in C2SAT. The offer is not intended for people whose participation requires further prospectus, registration or other measures than those required by Swedish law. None of the securities in C2SAT will be registered in accordance with the United States Securities Act of 1933, nor any equivalent law in any state in the USA or applicable law in any other country.