XXL ASA Adopts Alternative Rights Issue Plan

XXL ASA (GB:0R3P) has released an update.

XXL ASA held an extraordinary general meeting where the proposal for a NOK 600 million rights issue was not approved, prompting the company to adopt an alternative transaction structure involving a new subsidiary, XXL Holding ASA. This alternative plan allows XXL shareholders to receive subscription rights as dividends, with the opportunity to buy new shares in XXL Holding during a subscription period starting January 2025. The subscription rights and new shares are expected to be listed on Euronext Growth Oslo.

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