Rabbalshede Kraft’s rights issue with preferential rights for existing shareholders has brought the company approximately SEK 83,5 M before issue costs. About 20 percent of the issue was converted in conjunction with the trading of subscription rights and several existing shareholders increased their holdings as a result of the rights issue.
On May 22, 2012, Rabbalshede Kraft announced an offering comprising an issue of Series B shares with preferential rights for existing shareholders using the support of the authorization granted at the Annual General Meeting on May 3, 2012.
Since subscription was only possible using subscription rights, all of the shares were subscribed for using primary preferential rights. The market’s demand for subscription rights exceeded the offering on the final trading day.
The result of the issue means that Rabbalshede Kraft strengthens its working capital and can increase the pace of its development and the value growth of its comprehensive project portfolio. At March 31, 2012, the company had contributed to the launch of 48 wind turbines, of which 26 are on four wind farms managed by the company. The company has received permits for a further 52 turbines, of which 14 are under construction. In addition, 244 turbines are in the application phase and 119 are in the early project phases.
Following the issue, the share capital in Rabbalshede Kraft amounts to SEK 310,447,770, distributed among 31,044,777 shares. The shares subscribed for in the issue are expected to be registered with the Swedish Companies Registration Office not later than July 15.
The Interim Report for Q2 2012 will be published on July 13.
Thomas Linnard, President
Tel. 46 (0)525 - 197 11, 46 (0)706 100 120
Kent Söderström, CFO
Tel. 46 (0)525-197 13, 46 (0)733 307 280
Rabbalshede Kraft AB (publ)
SE-457 55 Rabbalshede, Sweden
Telephone 46 (0)525-197 00
Corp. Reg. No. 556681-4652