AS Tallink Grupp Increases Share Capital Through Share Option Program
News related to:AS Tallink Grupp · 2 min read
AS Tallink Grupp, a major Estonian maritime company, has increased its share capital by EUR 2,451,661 through the issuance of 5,216,300 new ordinary shares. This move follows the exercise of options under the company’s share option program, which was approved by the General Meeting of Shareholders on June 13, 2023.
According to the company, 70 option holders exercised their rights, subscribing for the new shares and paying a total of EUR 2,451,661. The remaining 2,053,700 unexercised options will be cancelled. The share capital increase brings the total share capital of AS Tallink Grupp to EUR 351,929,121.08, from the previous EUR 349,477,460.08.
The new shares, with a notional value of EUR 0.47 per share, will be listed and admitted to trading on Nasdaq Tallinn. The company expects the first trading day for these new shares to be the day following the registration of the share capital increase with the Estonian Commercial Register and the registration of the new shares under the ISIN code EE3100004466.
The share option program, approved by the General Meeting of Shareholders, grants pre-emptive rights to subscribe for the new shares to members of the Supervisory Board, members of the Management Board designated by the Supervisory Board, and senior employees of AS Tallink Grupp and its subsidiaries. These individuals, who have entered into option agreements with the company, were given the opportunity to participate in this capital increase.
The new shares will carry the right to dividends for the financial year starting January 1, 2026, and subsequent years, provided that the payment of dividends is resolved by the company. The Supervisory Board of AS Tallink Grupp has resolved to increase the share capital in this manner, reflecting the company’s ongoing commitment to its employees and stakeholders.
AS Tallink Grupp’s expansion through this share capital increase underscores its strategic focus on maintaining a strong and flexible capital structure. The company’s next steps will involve submitting an application to Nasdaq Tallinn for the listing and trading of the new shares, which is expected to enhance the liquidity of its shares and provide additional opportunities for its shareholders.
This capital increase is part of AS Tallink Grupp’s broader strategy to support its growth and operational needs, ensuring that the company remains well-positioned to navigate the challenges and opportunities in the maritime industry.