Informa – EGM 4 May 2020
Item 1: Capital increase
In April 2020, Informa made a placement with pre-emptive rights of 19.99% of Informans capital. 9.99% of the capital has been allotted under the existing authority (up to 10% approved in 2019) and further 9.99% by way of the Conditional Share Issuance.
The net proceeds of the Placing will be used to strengthen Informans balance sheet, reduce overall net debt and lower leverage. This is a part of general COVID-19 plan which includes a range of further actions to reduce the run-rate of costs, including the postponement of all recruitment, salary rises and non-essential projects, as well as a voluntary Leadership Salary Sacrifice, with the Group CEO and CFO volunteering 33%, all members of the Board 25% and all members of the Executive Management Team also 25% of their respective salaries. Informa announced the temporary suspension of dividends, discussions on a debt covenant waiver and the issue of additional new equity by way of the Placing.
Informa is a holding company. Through its subsidiaries, Co. is engaged in Global Exhibitions, which organises transaction-oriented Exhibitions and trade shows, providing buyers and sellers across different industries and communities with a platform to meet face to face, build relationships and conduct business; Business Intelligence, which provides specialist data, intelligence and insight to businesses; Academic Publishing, which publishes peer-reviewed scholarly research and specialist reference-led academic content; Knowledge and Networking, which organises content-driven events and programmes that provide a platform for communities to meet, network and share knowledge.
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