By around 10:00 AM, approximately 214,567 Impresa shares had exchanged hands, generating a revenue of about 51,145 euros.
During today’s session, Impresa shares rose to a high of 0.243 euros, after closing at 0.226 euros on Wednesday.
On Wednesday, following market close, Impresa announced a partnership with Italian company MFE – MediaForEurope, where MFE will hold 32.934% of the owner of SIC, while the Balsemão family retains control of the group with 33.738%.
Impresa informed the Portuguese Securities Market Commission (CMVM) that “together with the holding company Impreger, the majority shareholder of Impresa, it has signed an investment agreement with MFE,” through which “the latter commits to subscribe to new shares of Impresa to be issued in a capital increase, which will result in a 32.934% shareholding in the group’s capital.”
According to the owner of SIC, “the full implementation of the investment agreement, and therefore the subscription of the capital increase, is contingent on obtaining the necessary regulatory approvals, confirmation from Impresa’s creditor banking institutions that the agreement does not trigger resolution or early maturity clauses in financing contracts, and approval from Impresa’s general assembly authorizing the Board of Directors to decide and execute the capital increase.”
This operation, “if realized, will allow Impresa to have a solid international media sector partner with ambitions for pan-European growth and the same passion for media,” adds the group led by Francisco Pedro Balsemão.
Under the terms of the shareholders’ agreement also concluded between the parties and “which will be signed and come into effect after the fulfillment of the aforementioned conditions, control of Impresa and its subsidiaries will continue to be exercised by Impreger, whose majority shareholder is Balseger, in turn owned in equal parts by the five children of Francisco Pinto Balsemão.”
The value of the capital increase outlined in the partnership agreement is 17,325,000 euros.
