The share issue completes the process of the capital increase of the company decided in May 2019
Trading in the restructured shares of Delta Technologies Plc has commenced in the Standard category of the Budapest Stock Exchange - the way for the listing opened in September 2021 after the Hungarian National Bank approved the related prospectus. With the 156,184,352 shares admitted to trading, the number of ordinary shares of the company traded on the BSE more than doubled from 101,815,648 to 258,000,000.
The issue of the securities concerned by this listing was originally decided on 22 May 2019 by the Board of Directors of Delta Technologies, then operating as Est Media Plc. Although the shares were created in September 2019, the mandatory listing required by the applicable stock exchange rules has not yet taken place due to the lack of approval of the relevant prospectus by the Magyar Nemzeti Bank.
The securities admitted to trading shall constitute ordinary shares of series A with a nominal value of HUF 0.78 each, with rights identical in all respects to those of the shares already listed.
In addition to the process completed with this listing, the company is in the process of listing a further 125 million shares, which the Board of Directors decided to issue in December 2019. To this end, the company has prepared an action plan, as required by the Magyar Nemzeti Bank, outlining the planned steps and their expected timing. The implementation of the action plan was also unanimously supported by the Extraordinary General Meeting held on 20 September 2021.
Zoltán Csontos, Chairman of the Board of Directors of Delta Technologies, said that the Board of Directors of the company has been working and continues to work to resolve the legal situation of the shares issued during the previous capital increases and to ensure that the shares are listed on the stock exchange as soon as possible. He added that the present listing is an important milestone in this respect, as it marks the removal of a hitherto major obstacle and significantly clarifies the company's presence and background on the stock exchange. He stressed that as a result, the company can now focus all its efforts on further growth and the implementation of its business strategy.
