GEM injects 1,73 million to Quabit

22/01/2014 – El Mundo

Gem has communicated to Quabit that will buy a new package of shares from Quabit Real Estate for the amount of 1,73 million Euros, as stated by the company.

The transaction is framed by the equity line contract signed between the real estate and GEM, according to which Quabit has the right, but not the obligation, to request that the company subscribe its request for one or several social capital increases for a total amount of 90 million Euros during a period of three years.

In the framework of this agreement, Quabit asked for the sixth time a share subscription. Thus, GEM has notified a commitment of subscription of 14,2 million of shares for an amount of 1,73 million Euros. From this amount, 1,6 million correspond to a share premium.

Source: El Mundo