Authorised by the extraordinary general meeting of 25 May 2009, the Board of Directors of Sponda Plc decided to launch a €208 million rights issue to strengthen the company’s balance sheet and improve its liquidity. Solidium Oy, which held 34.3% of Sponda’s shares prior to the issue, had informed the company before the extraordinary general meeting that it would support the planned rights issue, vote in favour of it at the meeting, and subscribe to its share of the equity offered in the rights issue.
The rights issue closed oversubscribed on 22 June 2009. Solidium Oy participated in full in the issue by investing €71 million. Thus, Solidium’s holding in Sponda Plc remained unchanged at 34.3%. In Solidium’s opinion, Sponda’s capital structure is well in line with its peer group.