OHLA has completely covered the section of the capital increase directed to its workforce. The company had planned to subscribe shares for up to three million euros, which has been reached with the demand received from employees, as notified to the National Securities Market Commission (CNMV).
The incentivized share plan was opened coinciding with its second capital increase with preferential subscription rights worth 80 million, which started last Tuesday. They started with a commitment from their main investors and new shareholders for 37 million, which escalated to 40 million with the favorable response of the employees. OHLA approved its latest stock incentive plan for senior managers in 2015 for the period 2016-2018.
OHLA indicated to the CNMV that it has received irrevocable subscription commitments from OHLA employees and the companies in its group in eleven countries that significantly exceed the number of preferential subscription rights that were transferred in their favor by the investors José Elías Navarro, Key Wolf, Prestige Inversiones and Coenersol to enable the existence of a section for employees in the capital increase.
The irrevocable subscription commitments received from employees of the OHLA Group represent the exercise of the 32,625,000 pre-emptive subscription rights assigned to them, which will entail the subscription of three million euros in the capital increase with rights, Europa Press reported.
Added to the first capital increase of 70 million euros already executed, the insured funds now amount to 110 million euros out of a total of 150 million euros that the company is seeking to fulfill its recapitalization plan, that is, the 73% of the total.
In a statement released by the construction company in the last days of December, OHLA explained that the placement entities of the increases, Santander, Bestinver and Alantra, had signed an agreement with new investors to subscribe 6 million euros in this second capital increase.
For their part, the new investors who already entered into the first expansion of 70 million euros (José Elías Navarro, José Eulalio Poza, Inveready and Coenersol), will add another 5 million in the second.
Likewise, the current main shareholders of OHLA, the Mexican Amodio brothers, will subscribe 26 million euros. All of this adds up to 37 million euros, to which 3 million remained to be added from the contingent tranche allocated to the company’s employees, thus reaching the 40 million euros already committed.
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