Subscription period of Snam Rete Gas capital increase closed: 99.75% of the shares offered were subscribed. Unsubscribed rights will be offered on the Italian Stock Exchange from May 21st
Not for publication, distribution, directly or indirectly, in the United States, Australia and
- Subscription period of Snam Rete Gas capital increase closed: 99.75% of the shares offered were subscribed
- Unsubscribed rights will be offered on the Italian Stock Exchange from 21 May 2009
San Donato Milanese, 19 May 2009 – Snam Rete Gas announced the conclusion of the rights offering in relation to the capital increase approved by Snam Rete Gas’ Board of Directors on 23 March 2009 and 23 April 2009 by virtue of the authority granted to the Board of Directors by the Extraordinary Shareholders' Meeting of 17 March 2009.
During the subscription period, which began on 27 April 2009 and closed on 15 May 2009, 1,756,673,448 rights were exercised corresponding to an aggregate of 1,610,283,994 Snam Rete Gas new ordinary shares subscribed, equal to 99.75% of the 1,614,292,394 ordinary shares offered, for a total amount of euro 3,462,110,587.10.
Carlo Malacarne, CEO of Snam Rete Gas, has stated �?I am very pleased that the market has appreciated the industrial and strategic rationale of the transaction, aimed at sustaining the growth of our company and allowing it to become one of the leading integrated operators in the regulated activities of the gas sector in Europe. I am convinced that this growth will represent a remarkable opportunity to continue to create value for our shareholders.�?
At the end of the subscription period, 4,372,800 rights remained unexercised. The unexercised rights are valid for the subscription for an aggregate of 4,008,400 newly-issued ordinary shares of Snam Rete Gas, corresponding to a total amount of euro 8,618,060.00.
The unexercised rights will be offered on the Italian Stock Exchange, in accordance with Article 2441, third paragraph, of the Civil Code, by Snam Rete Gas, through Mediobanca – Banca di Credito Finanziario S.p.A., during the trading sessions of 21, 22, 25, 26 and 27 May 2009.
All the unexercised rights will be offered during the first trading session, and if any rights remain unsold they will be offered in the following trading sessions.
The rights can be used to subscribe for new ordinary shares of Snam Rete Gas, each with a nominal value of euro 1.00 and dividend entitlement as of 1 January 2009, at a subscription price of euro 2.15 per share and at a subscription ratio of 11 new shares for each 12 rights.
The new ordinary shares must be subscribed for by and no later than 28 May 2009, after which date the rights will expire.
As previously announced, on 23 April 2009, Mediobanca, Morgan Stanley and UBS Investment Bank, acting as Joint Global Coordinators and Joint Bookrunners, and BNP PARIBAS, Credit Suisse, Merrill Lynch International and UniCredit Group (HVB), acting as Co-Bookrunners, entered into an underwriting agreement pursuant to which they undertook to subscribe for any new ordinary share which might remain unsubscribed after the offer on the Italian Stock Exchange of the unsubscribed rights.
In accordance with the commitment undertaken on 12 February 2009, Eni has exercised all the rights to which it was entitled in relation to the Snam Rete Gas shares it owns(corresponding to 50.03% of the share capital of Snam Rete Gas and to 55.58% of the share capital excluding the treasury shares owned by Snam Rete Gas). Consequently, Eni subscribed in full its quota of of new ordinary shares corresponding to 897,272,805 newly-issued shares, for a total amount of euro 1,929,136,530.75.
Following the subscription of the capital increase, Eni will hold 52.54% of the total share capital of Snam Rete Gas (corresponding to 55.58% of the share capital excluding the treasury shares owned by Snam Rete Gas).
The Prospetto Informativo for the offering is available on the company's web site www.snamretegas.it and is available to the public at the registered offices of the company (San Donato Milanese, Piazza Santa Barbara no. 7) and of Borsa Italiana S.p.A. (Milano, Piazza degli Affari no. 6).
These materials do not constitute or form part of an offer to sell or the solicitation of an offer to buy the securities discussed herein. It may be unlawful to distribute these materials in certain jurisdictions. These written materials are not for distribution in the United States, Australia or Japan and the information contained herein does not constitute an offer of securities for sale in the United States, Australia or Japan. The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offer of the securities in the United States.
This document is for distribution only to persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order"), (ii) are persons falling with Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any Securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This document must not be acted on or relied on by other persons in the United Kingdom. This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.
Snam Rete Gas Investor Relations
Tel +39.02.520.67272 - Fax: +39.02.520.67650
Snam Rete Gas External Relations
Tel. +39 02 520.67691 - Fax +39.02.520.69227
Eni Press Office
Tel +39 02.52031875 – +39 06.5982398
Snam Rete Gas is a leader in the transportation and dispatching of natural gas in Italy. The company has more than 60 years of experience in planning, developing and running infrastructure in the sector. Snam Rete Gas currently operates over 31,000 kilometres of pipeline network, 11 compression plants, 8 supervisory districts and 55 maintenance hubs. Snam Rete Gas is the only Italian company that regassifies Liquefied Natural Gas. In 2008 it transported more than 85 billion cubic metres of gas on behalf of approximately 73 shippers. It has been listed on the Milan stock exchange since December 2001 and its current market capitalisation is around €8 billion.
05 August 2016 - 16:18 CEST