Rabbalshede Kraft raises MSEK 353.7 through preferential rights issue
The application period for Rabbalshede Kraft AB’s (publ) preferential rights issue has expired. In total 29,480,353 B-shares were subscribed for at SEK 12 per share. From the preferential rights issue the company raises approximately MSEK 353.7 before transaction costs.
On June 19, 2013, Rabbalshede Kraft announced that the Board had approved a preferential rights issue in line with the authorization granted at the Annual General Meeting on April 25, 2013. The preferential rights issue encompassed up to 32,200,000 Series B shares at a price of SEK 12 per share.
All shareholders have received their subscribed amounts. Payment for the shares subscribed in the rights issue shall be completed not later Monday, July 15, 2013. The shares will then be registered at the Swedish Companies Registration Office. Following the preferential rights issue the total number of shares in Rabbalshede Kraft is now 74,825,130. Manor Investment S.A. owns 39,697,500 shares after the preferential rights issue, corresponding to 53 percent of the capital.
The purpose of the preferential rights issue of MSEK 353.7 and the private placement of MSEK 171.6 conducted in June 2013 was to fund the equity requirement for the construction of the three wind farms Årjäng NV, Årjäng SV and Skaveröd/Gurseröd. The bank financing will be provided by Swedbank and SEB. The construction commenced in July 2013 and is scheduled for completion by late 2014.
The Interim Report for Q2 2013 will be published on August 15.
Swedbank First Securities has served as the Rabbalshede Kraft’s financial advisor during the process.
For further information, contact;
Thomas Linnard, CEO, Tel: +46 (0) 706-100 120
E-mail: thomas.linnard@rabbalshedekraft.se
This is Rabbalshede Kraft
Rabbalshede Kraft AB (publ) is a fast-growing player in wind power. Since being formed in 2005, Rabbalshede Kraft has been involved in the commissioning of 48 wind turbines, of which 26 wind turbines in four wind farms are proprietarily managed. An extensive project portfolio comprises the basis for growth. The Company has another 47 turbines under construction and about 300 wind turbines in the procurement, application or planning phase. Rabbalshede Kraft's overriding objective is to create value growth for the Company's shareholders – proprietarily, in partnership with other companies and through divestment - by contributing to the commissioning of 250 turbines by 2015. Follow the Company's progress at www.rabbalshedekraft.se
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