XXL ASA Considers Alternative Rights Issue Amid Uncertainty

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

XXL ASA is facing uncertainty regarding its NOK 600 million rights issue due to a lack of voting commitments from shareholders, prompting the company to consider an alternative rights issue through a new subsidiary, Newco. This alternative aims to raise between NOK 375 million and NOK 600 million, offering subscription rights as a dividend in-kind to shareholders. The outcome of the extraordinary general meeting will determine the path forward for XXL’s capital raise.

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