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TM hf. concludes a share capital offering

Written by Customer Service on . Posted in Public Companies.

Today, TM hf. (Trading ID: “TM”) concluded a share capital offering of a total of 93,750,000 new shares in TM which were offered for subscription to investors at ISK 32.0 per share. The share capital offering began on last 9 December and concluded at 17:00 today.  A prospectus pertaining to the share capital offering was published on 4 December 2019.  The offering was managed by Arion Bank hf.A total of 223,802,627 new shares were subscribed for by investors in the share capital offering; 178,145,043 shares in the rights offering by holders of pre-emptive rights and 45,657,584 of new shares in the public offering by general investors.The aggregate proceeds of the offering amount to ISK 3 billion. The purpose of the offering was to finance the payment by TM of a part of the purchase price for Lykill fjármögnun hf. pursuant to a share purchase agreement entered into on 10 October.According to the rules of the offering a total of 93,750,000 shares were allocated to holders of pre-emptive rights which equals the total number of shares on offer.  Accordingly, no shares will be allocated to investors who subscribed for shares in the public offering.  In other respects, investors will be informed of their respective allocations tomorrow, 13 December.  Payment of subscriptions by investors shall take place not later than on 17 December, with the intention being to deliver the new shares the next day thereafter, 18 December.  It is expected that trading in the new shares will commence on the Main Market of Nasdaq Iceland hf. on 18 December.Sigurður Viðarsson Chief Executive Officer of TM hf.:“It is a great pleasure to see the apparent trust and interest of investors in TM, as well as the confidence they have in the success of the proposed cooperation of TM and Lykill fjármögnun hf. This is clearly reflected in the outcome of the offer. This favorable result encourages TM in the work ahead to strengthen the TM group with a greater service offering to clients and increased profitability.”  
Further information may be obtained from: Sigurður Viðarsson, CEO, TM hf., sigurdur@tm.is, tel: 515-2609

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