Intrakat: To AMK up to 51.3 million euros (update)

The increase of its share capital up to the amount of 51.3 million euros was decided by the Board of Directors of Intrakat in the framework of its strategic plan for the strengthening of its capital structure.

According to a relevant announcement, the increase will be made by cash payment and pre-emptive right in favor of the existing shareholders of the company. The exchange ratio is 0.56 new per 1 old share and the offering price was set at 1.90 euros per share, while 27,027,028 new shares will be issued in case of full coverage of AMK.

In the same announcement it is noted that AMK’s goal is to best serve the upcoming prospects concerning the 4 pillars of Intrakat activity and specifically the new and ongoing infrastructure construction projects, Renewable Energy projects (wind & photovoltaic parks, storage projects, etc. ), PPP and concession projects as well as Real Estate projects in Greece and abroad.

With an outstanding balance of € 800 million and after the successful completion as EPC contractor of the 14 regional airports of Fraport Greece, Intrakat as one of the leading forces of the construction and energy sector in Greece welcomes ready in 2022 the opportunities and challenges having the necessary know-how, experience and competitiveness in order to competitively claim a significant percentage of the construction projects that are announced.

Having unique know-how in complex infrastructure construction projects and an important track record of turn-key implementation projects, he looks to the future with optimism.

It is noted that according to the company in case of full coverage of AMK, the total funds raised, after deducting the estimated issuance costs of about 600 thousand euros, are estimated to amount to about 50.8 million euros.

The announcement for the decision of the Board

“INTRAKAT” announced earlier that the Board of Directors of the company during its meeting held on 20.01.2022, approved, in accordance with article 24 par. 1 (b) of Law 4548/2018 and by virtue of the authority granted by the Extraordinary General Meeting of the Company’s shareholders of 17.12.2021, among others, the following:

The increase of the share capital of the Company, in the amount of up to eight million one hundred eight thousand one hundred eight eight Euros and forty cents (€ 8,108,108.40) (the “Increase”), with the issuance of up to 27,027,028 new, common, intangible, registered after voting shares with a nominal value of 0.30 Euros each (the “New Shares”), with cash payment and with the right of preference of the existing shareholders of the Company.

Those who have a pre-emptive right to the Increase will be entitled to acquire New Shares with a ratio of 0.562748049940626 New Shares for each old share of the Company. In case the Increase is not fully covered, there will be a possibility of partial coverage according to article 28 of Law 4548/2018, as in force (possibility of partial coverage).

The definition of the offering price of the New Shares in one Euro and ninety cents (€ 1.90) per New Share (the “Sale Price”). The Selling Price may be higher than the stock price at the time of the cut-off of the pre-emptive right. The total difference between the nominal value of the New Shares and their offering price, amount (in case of full coverage of the Increase) forty-three million two hundred forty-three thousand two hundred forty-four Euros and eighty cents (€ 43,243,244.80), will be to credit the account “Difference from the issue of premium shares”.

Do not issue fractions of New Shares and the New Shares that will result from the Increase be entitled to a dividend from the profits of the current year (01.01.2022-31.12.2022) and henceforth, in accordance with applicable law and the Company’s Articles of Association, provided the Ordinary General Meeting of the Company decides the distribution of a dividend for the said year and, in addition, if the New Shares have been credited to the accounts of the beneficiaries identified through the Intangible Securities System (“DSS”) managed by the company “Hellenic Central Securities Depository Societe Anonyme” (the “EL.K.AT”), at the date of termination of the right to receive a dividend.

The definition of payment deadline for the Increase that will not exceed four (4) months from the day of registration of the decision of the Board of Directors for the Increase in G.E.M.I., according to article 20 par. 2 of Law 4548/2018 .

The definition of a deadline of fourteen (14) days for the exercise of the pre-emptive rights of the existing shareholders, according to article 26 par. 2 of Law 4548/2018. The pre-emptive right for the acquisition of the New Shares in the Increase will have: (a) all the shareholders of the Company, who will be registered in the DSS, on the date of identification of beneficiaries (record date) according to article 5.2 of the ATHEX Regulation. , if they retain these rights at the time of their exercise, and (b) those who acquire pre-emptive rights during the trading period of these rights on the Athens Stock Exchange.

To grant a pre-registration right (the “Pre-Registration Right”) to the persons who fully exercised the pre-emptive rights they held, for the acquisition by each exerciser, of the Sale Price of New Shares that may remain unavailable after the timely exercise or amortization of the pre-emptive rights ( the “Unallocated Shares”). The Pre-emptive Right can be exercised for the acquisition of Unallocated Shares that will not exceed 100% of the New Shares arising from the exercised pre-emptive rights of this exerciser.

In case after the distribution of the New Shares based on the exercised pre-emptive rights and the Pre-emptive Right, Unavailable Shares still exist, they should be available at the Offering Price, at the discretion of the Board of Directors, according to article 26 of Law 4548 / 2018.

The corresponding amendment to article 5 of the Company’s Articles of Association, to reflect the relevant change in the Company’s share capital.

The report of the Board of Directors, according to paragraph 4.1.3.13.2 of the Regulation of the Athens Stock Exchange and article 22 par. 1 and 2 of Law 4706/2020, which will be published in accordance with the provisions of these provisions.

In addition, the Board of Directors provided members of the Board of Directors and Company executives with authorizations for the necessary actions to complete the Growth process and the listing of the New Shares for trading on the regulated market of the Athens Stock Exchange.

The cut-off date of the pre-emptive right, the exercise period of the pre-emptive right and the Pre-subscription Right and the trading period of the pre-emptive right on the Athens Stock Exchange will be announced in a new announcement within the time period provided by law.

Further information on the Company, the New Shares and the Increase will be included in the Prospectus, prepared in accordance with the provisions of Regulation (EU) 2021/337 amending Regulation (EU) 2017/1129 as regards the prospectus for recovery of the EU, Regulation (EU) 2017/1129, the delegated Regulations (EU) 2019/979 and 2019/980 and the applicable provisions of Law 4706/2020, as in force, to be approved by the Hellenic Capital Market Commission, for the approval and disposal of which the investing public will be informed with a new announcement.