Exel Composites’ Subscription Rights Issue Comes to a Close: Investors Have Until June 7th to Purchase New Shares”.

The subscription rights issue for Exel Composites is coming to an end, with investors having until today, June 7th, to subscribe for new shares. Any unused subscription rights will expire without value.

In the offering, investors had the opportunity to purchase new shares based on the number of Exel Composites shares they already owned. Each subscription right allowed for the purchase of eight new shares at a price of EUR 0.23 per share.

Trading of subscription rights took place from May 24th to June 3rd, 2024, with subscriptions for new shares starting on May 24th and ending today, June 7th. Temporary new shares began trading on May 27th, with old and new shares currently being quoted separately on the market.

As of 1:50 p.m., the price of the old share was down by 4.9% at EUR 0.313, while the price of the new share was down by 0.7% at EUR 0.303. The price gap between them has narrowed but still remains at around three percent. This difference has ranged from five to eleven percent in recent days.

According to the schedule, the series of old and new shares will be merged into a single series for trading on June 17th.

The completion of this subscription rights issue marks an important step in Exel Composites’ growth strategy as it allows them to raise additional capital that can be used for expansion and other initiatives that will drive their business forward.