In an extraordinary shareholders’ meeting, the residential developer Ayco Grupo Inmobiliario approved a proposal to increase the firm’s capital base by 40 million euros, reported Friday to Spain’s National Securities Market Commission (CNMV).
The meeting on November 30th saw stakeholders agree to increase Ayco Grupo Inmobiliario’s share capital by an effective amount (nominal value plus premium) of 40 million euros “by issuing and putting into circulation as many new ordinary shares as would result from applying a nominal value for each of them of 30 cents plus the issue premium agreed by the board of directors for this purpose,” the company said.
These shares “will be fully subscribed and paid-up through cash contributions, with recognition of pre-emptive subscription rights and provision for incomplete subscription, and provided that there are investment commitments that ensure coverage with a minimum amount of the capital increase and a minimum issue premium of 33 cents per share is established”, states Ayco Grupo Inmobiliario.
