24/11/2009 15:59
ITTL Trade Tourist & Leisure Park tries to absorb capital of €13 million from the market, in expectation of a fast listing in the CSE despite the difficulties of the times.
ITTL is the owner of Shacolas Commercial Park, which includes The Mall of Cyprus. It is subsidiary of Woolworth, which belongs to Shacolas family by 77%.
According to the announcement, the Securities and Exchange Commission approved the Prospectus dated March 31, 2009 for the issue and offer of up to 17,500,000 new shares of nominal value €0.50 each to the investing public with a sale price of €0.75 per share as follows:
9,400,000 shares will be disposed to the shareholders of Woolworth (Cyprus) Properties Plc, who will be registered in the Central Register/Depository of the CSE on the record date.
- 5,875,000 shares will be disposed with private placement to professional investors and a limited circle of persons, and
- 2,225,000 shares will be disposed with a Public Offer to the investing public.
The Prospectus also concerns the issue of up to 23,500,000 warrants 2009/2013, which will be allocated gratis to the shareholders registered on the date of issue of new shares, following the finalization of the Public Offer to the ratio of 1 warrant for every 5 shares held. Each warrant will give the right to its holder to acquire 1 share at the price of €1.25. The exercise period will be November 1 – 30, 2013.
It is noted that the Company has submitted an application to the CSE for the listing of its titles in the Alternative Market and the Company’s titles and the titles that will result from the new issue will be listed in the CSE following the CSE Council’s approval.
The exact timetable of the Public Offer including the start and the expiry of the Public Offer as well as the record dates will be announced via an announcement to the CSE and via the Press or the issue of a supplementary prospectus if applicable).
ITTL is the owner of Shacolas Commercial Park, which includes The Mall of Cyprus. It is subsidiary of Woolworth, which belongs to Shacolas family by 77%.
According to the announcement, the Securities and Exchange Commission approved the Prospectus dated March 31, 2009 for the issue and offer of up to 17,500,000 new shares of nominal value €0.50 each to the investing public with a sale price of €0.75 per share as follows:
9,400,000 shares will be disposed to the shareholders of Woolworth (Cyprus) Properties Plc, who will be registered in the Central Register/Depository of the CSE on the record date.
- 5,875,000 shares will be disposed with private placement to professional investors and a limited circle of persons, and
- 2,225,000 shares will be disposed with a Public Offer to the investing public.
The Prospectus also concerns the issue of up to 23,500,000 warrants 2009/2013, which will be allocated gratis to the shareholders registered on the date of issue of new shares, following the finalization of the Public Offer to the ratio of 1 warrant for every 5 shares held. Each warrant will give the right to its holder to acquire 1 share at the price of €1.25. The exercise period will be November 1 – 30, 2013.
It is noted that the Company has submitted an application to the CSE for the listing of its titles in the Alternative Market and the Company’s titles and the titles that will result from the new issue will be listed in the CSE following the CSE Council’s approval.
The exact timetable of the Public Offer including the start and the expiry of the Public Offer as well as the record dates will be announced via an announcement to the CSE and via the Press or the issue of a supplementary prospectus if applicable).
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