Of these, 3.4 million shares were allocated to N. Kockar upon exercising his pre-emptive right, and 6.57 million shares were signed by other company shareholders for the unsigned shares, announced “Novaturas” on the Nasdaq Vilnius exchange on Friday.
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As the company reports, a total of 10.3 million new shares were issued, valued at approximately 7 million euros according to BNS calculations.
The new shares should be credited to shareholders on July 21.
BNS wrote that during the new share offering to existing shareholders, “Novaturas” subscribed for shares worth about 2.53 million euros.
The company announced that the share distribution will take place if shares worth at least 7 million euros are subscribed, so the largest shareholder was asked to subscribe for the remaining shares.
BNS wrote that to raise funds, the company decided in June to publicly offer up to 14.7 million shares for purchase, with a price of 68 cents each.
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Shareholders also decided to increase the authorized capital with additional shareholder contributions from 234.2 thousand euros to 675.4 thousand euros, but did not approve the proposal to cancel shareholders’ pre-emptive rights to acquire new shares – these were intended to be offered publicly to existing shareholders to finance business expansion, strengthen financial condition, position, and the company’s market standing.
N. Kockar owns 23.2% of the company’s shares, “Willgrow” – 9.99%, “Moonrider” – 6.96%, “Rondam” – 4.57%, other minor shareholders – 55.28%.
It was reported that the group’s audited net loss last year decreased by 33% to 1.38 million euros (2.06 million euros in 2024), earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 429 thousand euros (a loss of 590 thousand euros), and revenue fell by 16.1% to 168.5 million euros (200.9 million euros).
