Profil:
CCC SAUPDATE: CCC fashion EGM decides to increase share capital through issue of up to 10 mln series N shares
Listed footwear and fashion retail group CCC shareholders at Monday's Extraordinary General Meeting decided to increase the share capital through the issue of up to 10 million series N shares.
The issue of new shares, with exclusion of pre-emptive rights, is to take place through a private placement.
The primary objective of the issue of new CCC shares is to raise funds to pay the cash portion of the price for the buyout of Modivo shares from minority shareholders.
CCC's intention is that the number of shares in the new issue will be limited so as to raise an amount of approximately PLN 1.36 billion (EUR 325.6 mln).
CCC stated, however, that in the case of high demand, the company's management board may decide to issue an additional 1 million new issue shares, this is up to 10 million new issue shares in total, in order to allocate the surplus funds for the implementation of the strategic directions of the CCC group's development.
A&R Investments, a current shareholder of Modivo has decided to invest PLN 100 million (EUR 23.9 mln) in CCC's new series N shares.
A&R Investments is a current shareholder of Modivo, which is affiliated with Rafal Brzoska, the CEO of Amsterdam-listed parcel locker operator InPost.
pel/ nl/ han/
