Clarification from Citadel Capital SAE Regarding the Current Call for Subscription to its EGP 1.05 billion Capital Increase via Rights Issue at Par
- Citadel Capital Partners Ltd. (CCP) will, as the principal shareholder in Citadel Capital SAE, participate in the capital increase during the current subscription period ending on 3 October 2011. CCP will participate on a pro-rata basis, in respect of which we note that CCP’s shareholding on 25 August 2011 was 33.38%.
- The c.70.1 million shares to which CCP will accordingly subscribe (as per (1) above) will be subject to a one year lock-up period beginning on the date of authorization in the Commercial Registration, in accordance with CCP and Citadel Capital SAE’s previous statements and disclosures to this effect.
- In the event that the subscription is not fully covered during the original subscription period, CCP will subscribe to the un-covered portion of this rights issue. CCP is entitled to trade any such shares in excess of the c.70.1 million shares noted in (2) above as it may wish.
- Citadel Capital SAE remains fully committed to its previously disclosed use of proceeds from this capital increase.