Trastor is proceeding with a share capital increase of up to €75 millionwith the aim of broadening the shareholder base, acquiring three new properties in central Athens, and making other new investments.
The Board of Directors’ report on the Share Capital Increase, published yesterday, states that the company will issue up to 150 million new, common, dematerialized, registered voting shares with a par value of €0.50.
Regarding the use of the funds to be raised from the capital increase, it is proposed that the net proceeds from the increase be used by the company on a priority basis as follows:
1-An amount of approximately €39 million for the payment of the purchase price in connection with the acquisition of the following three office buildings in central Athens: i) a seven-story building, including a basement, with a total area of 6,469 sq. m., located at 8 Karagiorgi Servias Street (note: houses Ministry of Finance services)
ii) a nine-story building, including a basement and ground floor, with a total area of 3,836 sq. m., located at 58 Athinas Street, and
iii) a nine-story building, with a total area of 5,081 sq. m., located at 5 Lykourgou Street, 6 Evpolidos Street, and 1 Apellou Street, subject to obtaining the necessary internal and corporate approvals,
2. The remaining amount shall be used to finance part of the capital expenditures for both the aforementioned acquisitions and capital expenditures for existing properties, and to carry out new investments in accordance with the Company’s investment strategy.
The new shares will be offered in Greece to private individuals and qualified investors, and abroad through a private placement to qualified, institutional, and other eligible investors.