TINC Comm. VA – Capital increase in cash with non-statutory preferential right for a maximum amount of 112,727,272 EUR - advertisement

TINC has decided to effect a capital increase in cash with a non-statutory preferential right, for a maximum amount of 112.7 million EUR.

TINC is a Belgian holding company focusing on participating in companies that realise and operate infrastructure generating cash flows of a long term sustainable nature. The Issuer adopts a diversified investment policy, with a Portfolio composed of investments in public and private infrastructure and both through equity and debt investments.

The proceeds of the offering shall allow the Company to grow the portfolio and manage the Participations in line with its strategy. Together with the available cash of the Company, the proceeds will be primarily used to fund the outstanding investment commitments, in a total amount of €102.5m of which an aggregate amount of approximately EUR 85.3 million to finance off-balance commitments to existing Participations Storm Flanders (increased commitment of EUR 15 million in December 2018), Kroningswind (commitment of EUR 40 million), Glasdraad, (increased commitment of EUR 20 million in July 2019), Réseau Abilis, De Haan Vakantiehuizen and Princess Beatrix lock and of which an aggregate amount of approximately EUR 17.2 million to acquire the Contracted Growth investments A15 and Princess Beatrix lock (acquisition of additional participation), both subject to conditions precedent.

Gimv NV and Belfius Insurance NV have each informed the Issuer that they will each exercise all Preferential Rights in respect of the number of Shares they currently hold, and to subscribe for the corresponding number of New Shares in accordance with the Ratio

The capital increase with non-statutory preferential right offers to shareholders the possibility to expand their investment in TINC, in proportion to their non-statutory preferential rights, at a subscription price of 12.40 EUR per share, without any further subscription costs.

The key modalities of the capital increase are as follows:

Subscription period from 21 November 2019 to 2 December 2019, 12 p.m. CET
Subscription ratio 1 new TINC share[s] (ISIN BE00970174778) for 3 existing TINC shares
Subscription price 12.40 EUR per new share. (For your information, the TINC share's closing price on 19 November 2019 was 14.00 EUR) 
Practical For each share held on 20 November 2019, after the closing of Euronext Brussels, you have been allocated 1 preferential subscription right (represented by coupon no. 11) Each group of 3 preferential subscription rights entitles you to subscribe for 1 new share
Subscription costs nihil
Ex-coupon date 21 November 2019
Payment date 5 December 2019

The new shares are entitled to dividends (if there is profit to be appropriated) for the entire fiscal year that started on 1 July 2019.

The non-statutory preferential rights may be traded on the Euronext Brussels regulated market during the entire subscription period. If you don’t have at least 3 No. 1 coupons or a multiple thereof, you can buy additional non-statutory preferential rights on Euronext Brussels during the subscription period. The purchase and the sale and any other acquisition or transfer for consideration of subscription rights (secondary market transactions) is subject to the Belgian tax on stock exchange transactions (“taks op de beursverrichtingen” / “taxe sur les opérations de bourse”).


Investing in shares and trading in preferential subscription rights involves significant risks. Before investing in the offered shares or trading in preferential subscription rights, investors are invited to read all the information provided in the Prospectus approved by the FSMA and available hereunder, and in particular the risk factors described therein in order to fully understand the potential risks and rewards associated with the decision to invest in the securities. In such “Risk Factor” section, the most material risk factors have been presented first within each (sub)category. Investors must be able to bear the economic risk of such an investment or trade and to suffer a total or partial loss of their investment. A potential investor who is in any doubt about the action to take should consult a professional advisor who specializes in advising on the acquisition of shares and other securities.
With any complaints, please contact KBC at klachten@kbc.be and/or on +32 800 62 084 or externally at ombudsman@ombudsfin.be.


The English version of the Prospectus and the information therein incorporated by reference, was approved by the Financial Services Market Authority (FSMA) on 20 November 2019 (the “Prospectus”). The approval of the Prospectus should not be understood as an endorsement of the securities offered. The Prospectus is available in English and Dutch. The summary is available in French. Not for release, publication or distribution, directly or indirectly, in the United States of America, Canada, Australia, Japan, South Africa or any other jurisdiction where it would be prohibited by applicable law.

The Prospectus will be made available to investors at no cost at the registered office of the Issuer, at Karel Oomsstraat 37, 2018 Antwerp, Belgium, or via the hyperlink hereunder.

The contacts of KBC are at your disposal for additional information. You can reach them on +32 78 152 153, Monday to Friday from a.m. CET to 10 p.m. CET.