INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS
4 March 2011 - The shareholders in Portuguese IT company Reditus (ELI:RED) yesterday approved a capital increase of EUR35m (USD48.9m), the company said in a filing with Portugal's bourse regulator CMVM.
The approved capital hike is bigger than the EUR 30 million initially announced on 9 February 2011.
According to yesterday's decision, Reditus' share capital will grow to EUR86.6m after the increase. The operation will be carried out through the issue of 7m new ordinary shares with a subscription price and nominal value of EUR5.00.
Under the decision, the board of directors will also have the right to further boost the capital by EUR33m. If the additional increase is completed, Reditus' capital will reach EUR120m.
The company's shares last traded on Tuesday, when they closed 1% higher to EUR6.08 on Euronext Lisbon.
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