True Energy Wind okays EUR 1.3m share issue reserved for True Energy Solar

Oct 16, 2014 - The board of directors of Italy's True Energy Wind (BIT:TEW) on Wednesday approved the terms of a EUR-1.33-million (USD 1.7m) share issue reserved for True Energy Solar, a wholly-owned subsidiary of its majority shareholder Iris Fund SICAV, at an issue price of EUR 1.00.

The board of True Energy Wind (TE Wind) also approved a rights issue of up to EUR 4,862,616 via the issue of up to 4,862,616 new ordinary shares priced EUR 1.00 each for the shareholders and the holders of the convertible bond issue 'Convertibile TE Wind S.A. 2013-2018'. The subscription ratio will be three new-issue shares per every seven rights held. The issue will run between October 20 and November 18, 2014.

(EUR 1 = USD 1.280)

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