Duro Felguera shareholders subscribe 2.99% of the capital increase to pay the Mota-Engil loan

Duro Felguera shareholders have subscribed, during the preferential subscription period, approximately 2.99% of the amount of the first of the two capital increases agreed with its Mexican partners, as reported by the company to the National Market Commission. Securities (CNMV). This capital increase, whose effective amount (nominal plus premium) is 39.83 million euros, is intended to repay the loan that the industrial group received from Mota-Engil México. Specifically, shareholders have subscribed during the preferential subscription period 1.55 million new shares of Duro Felguera for an effective amount of 1.19 million euros, representing approximately 2.99% of the amount of the capital increase . Last April at a meeting, the company approved this increase for an effective amount of 39.8 million euros through the issuance and putting into circulation of 52 million new ordinary shares of five euro cents (0.05 euros) in nominal value. each, plus an issue premium of 0.7161 euros, therefore, the issue rate is 0.7661 euros per share, charged to monetary contributions and recognition of the shareholders’ preferential subscription right. In February 2023, Duro Felguera and Mexican investors Grupo Prodi and Mota-Engil México agreed on loans worth 90 million euros. In October they disbursed the first 30 million to the Asturian group and last December, the other 60 million. It was agreed that the loans would be repaid and capitalized with capital increases. Prodi asked the CNMV to authorize the exemption from the obligation to formulate a public offer for the acquisition of shares (OPA) for the entire share capital of Duro Felguera. At the end of January, the CNMV Board agreed to this exemption, considering that the formulation of the takeover bid was not required as a result of the percentage of voting rights that said shareholder plans to achieve through capitalization of loans in the capital increases. In total, Mexican investors plan to acquire around 54% of the capital of Duro Felguera. Specifically, Grupo Prodi plans to acquire 31% of the voting rights of the Asturian company once the second capital increase is completed, while Mota-Engil México will reach a maximum of 24% of the voting rights with the first of the capital increases.