The Board of Directors of Trident Estates Plc announces that an Application to the Listing Authority has been made, requesting approval of a Rights Issue. The Rights Issue will be offered to shareholders on the Register at the Central Securities Depository of the Malta Stock Exchange as at the close of business on 4 October 2019 (the “Record Date”).
Use of Proceeds
If subscribed to in full, the Rights Issue will raise gross proceeds of approximately fifteen million Euro (€15,000,000) which will be applied to part-finance the development of the Trident Park project.
Shareholders shall be entitled to subscribe to two (2) new ordinary shares for every five (5) ordinary shares (or parts thereof, subject to rounding) held by them as at the Record Date at a Rights Issue price of €1.25 per new ordinary share.
Further detailed information on the Rights Issue shall be available in the Prospectus, which will be published following attainment of the necessary regulatory approvals.