Whoever holds 55 Altri shares will receive one GreenVolt share

  • ECO News
  • 2 July 2021

"One share representing of Greenvolt's share capital will be allocated for each multiple of 55 shares representing Altri's share capital," the company says in a statement.

Altri has committed to give GreenVolt’s shares to its shareholders, in case the renewable energy company goes public. With the IPO going ahead, it confirms its intention to deliver them an extraordinary remuneration in securities of the newly listed company, to which is added a cash dividend of €0.10.

It had already been defined that Altri’s shareholders would receive a maximum of five million shares or up to 5% of the company’s share capital and voting rights – as part of the admission to trading of all of Greenvolt’s shares. With the IPO now underway, and the new listed company expected to go public on July 13, the company is explaining how it will deliver these shares.

“One share representing of Greenvolt’s share capital will be allocated for each multiple of 55 shares representing Altri’s share capital,” says the company in a statement sent to CMVM, noting that to be eligible, investors must have Altri securities in their portfolio by the end of July 8.

It will be considered an eligible shareholder who “holds Altri’s shares at 11.59pm on July 8, 2021”, Altri said, also adding that the “effective implementation of this distribution is conditional on the prior admission to trading of all shares representing Greenvolt’s share capital on Euronext Lisbon’s regulated market.”

In addition to Greenvolt’s shares, which is on the market selling the new shares at values between €4.25 and €5, “the amount of €0.10 will be allocated for each share representing Altri’s share capital.”

The maximum amount to deliver to shareholders in cash and in shares will be €20.5 million.