By letter dated May 29, 2015 the Company reported that, between May 17 and 22, 2015, certain holders of the Company’s Warrants exercised their warrant rights to acquire additional shares. Hence, an increase of 80,074 common shares of the Company, face value pesos 1.00 (V$N 1) each, were issued. As a result of the aforementioned exercise the Company has received U$S 120,711.56. Further on, we also inform that on May 22, 2015, after the closing of the exercise period, all the outstanding warrants of the Company have expired.
Consequently, the amount of shares of the Company increased from 501,562,730 to 501,642,804, with no further warrants outstanding.
The exercise of the warrant was performed according to the terms and conditions established in the prospectus, dated February 21, 2008, regarding the Company’s rights offering to subscribe for 180,000,000 common shares and 180,000,000 warrants to subscribe common shares, as amended due to the last pro rata allotment of its shares among its shareholders, made on December 12, 2014. As a result, the terms and conditions of the outstanding warrants for common shares of the Company have been modified as follows:
Amount of shares to be issued per warrant:
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Ratio previous to the allotment: 0.36727981;
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Ratio after the allotment (current): 0.37146913.
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Warrant exercise price per new share to be issued:
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Price previous to the allotment: US$ 1.5247;
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Current price after the allotment: US$1.5075.
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The other terms and conditions of the warrants remain the same.