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Rovsing reports on increase in capital.

M2 EQUITYBITES-January 10, 2018-Rovsing reports on increase in capital

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Rovsing A/S (CPH:ROV), an application software company, reported on Tuesday the issue of new shares in connection with the exercise of employee warrants.

Reportedly, this capital increase is subscribed for without pre-emptive rights for the company's existing shareholders or others. These shares were subscribed in cash at a price of DKK0.05 per share with a nominal value of DKK0.05 per share.

This increase in the company's share capital was due to the exercise by Cristian Bank, CEO of the company, of 5,000,000 warrants. The proceeds to the company amount to DKK250,000.

Also, these newly issued shares are ordinary shares without special rights and free marketable negotiable securities. These new shares entitle to dividends and other rights in the company from the date of subscription.

According to Rovsing, these new shares will be admitted to listing on Nasdaq Copenhagen after registration with the Danish Business Authority.

Rovsing A/S' previous share capital amounted to DKK19,992,722.75 and now, after the capital increase, amount to DKK20,242,722.75 divided into 404,854,455 shares of DKK0.05. This capital increase is expected to be completed shortly.

The company clarified that this capital increase has no influence on its accounting expectations for FY 2017/18.

(EUR1.00=DKK7.44)

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Publication:M2 EquityBites (EQB)
Date:Jan 10, 2018
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