In continuation of company announcement no. 21/2013 it is hereby informed:
- that at the deadline of the subscription period on 6 November 2013, subscription requests for convertible bonds of a total of DKK 54.5 million were received. There is therefore an oversubscription of DKK 4.5 million in proportion to the maximum tender. There is a minimum subscription of DKK 750,000, and all investors, who have subscribed for more than DKK 750,000, will get the subscription amounts allocated pro-rata.
- that the Board of Directors, as mentioned in company announcement no. 21/2013, according to the authorisation in item 5.5 in the Articles of Association and the terms of the convertible bonds determined the conversion price to 42.78 per share at nominal DKK 10.
- that if all owners of the convertible bonds may choose to utilise the conversion right, the capital increase will be DKK 11,687,700 corresponding to 1,168,770 shares.
The proceeds will be used to strengthen the financial resources, development of existing business through purchase of land, land lease contracts or companies along with optimisation and further development of the activities according to FirstFarms' business concept.
Anders Holger Invest ApS, closely related to CEO Anders H. Nørgaard, has subscribed for DKK 1,351,648. Thoraso ApS, closely related to Chairman Henrik Hougaard, has subscribed for DKK 4,505,495 and board member Bent Juul Jensen has subscribed for DKK 1,802,198. Other qualified investors have thus subscribed for DKK 42,340,659. All amounts mentioned are after the pro-rata allocation.
Best regards
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or
contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.
