Oughourlian invests 1.5 million and buys another 0.5% of Prisa

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The largest shareholder of Prisa and president of the group, Joseph Oughourlianhas invested 1.5 million euros more in Prisa to acquire just over 5 million shares, the equivalent of around 0.5% of the securities of the group.

The purchase by the Armenian investor has occurred after the closing of the second window for conversion into shares of the bonds issued by the company, owner of The country and the Chain Being, last year to reduce the cost of debt. With this operation, would touch 30% of the company – close to the obligation to launch a takeover bid-, according to the data of the National Stock Market Commissionalthough these do not reflect the impact of the latest capital increase, as occurs with other shareholders.

Oughourlian has converted part of its bonuses and at the same time has carried out an individual operation with which it seeks to “demonstrate its confidence in the current progress of the group and the future of the company”, according to company sources told EL MUNDO. The manager went with Vivendi one of the main investors in the group’s convertible bond issue.

The closure of The second conversion window has barely served to convert a hundred bonds for 37,000 euros. The price of 0.37 euros to transform each obligation into a Prisa share represents a 20% premium over the 0.29 euros at which the share was quoted in this Tuesday’s session. Thus, 83,729 convertible bonds remain in circulation, issued with a nominal amount above 30 million euros.

With everything, Financial expenses continue to weigh down the company’s accounts. The company lost 36.7 million euros until September, after spending more than 93.7 million euros in financial expenses.

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