(Photo: Minerva Foods)
Minerva (Beef3) reported on Monday that its board of directors approved a proposal to capital increase In the amount of up to R $ 2 billion, which will be voted at an extraordinary general meeting to be held on April 29.
According to the food processor, under the terms of the proposal, the capital increase of up to R $ 2 billion will have a private subscription of up to 386.8 million new common shares for the issuance price of R $ 5.17 each.
The minimum subscription should correspond to an increase of at least $ 1 billion, added the company in a relevant fact.
Minerva said current shareholders Salic International Investment Company and VDQ holdings have made “commitment to subscribe and integral, nominative, nominal actions, at least, to reach the minimum subscription,” according to the statement.
The subscribers of the new actions will also receive a subscription bonus, the company said, issued in a single series, in the proportion of 1 bonuses for every 2 shares subscribed under the capital increase. They will be valid for three years from the date of issue.
Minerva added that the operation aims to “strengthen the company’s capital structure and liquidity position, providing an increase in cash and allowing the reduction of its indebtedness, with a view to ensuring greater financial solidity and viability in its operations”.
Source: Moneytimes
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