Crimsonwing plc goes Public
News    ·   01-01-2008

AUTHOR: Louis de Gabriele

Camilleri Preziosi was advising Crimsonwing p.l.c. and its selling shareholder in the offer for sale of shares on the Maltese capital market.

A combined offer of 6,747,134 shares, marking a 25.95 per cent stake in Crimsonwing p.l.c., was fully subscribed within an hour of opening to the public on the morning of 11 December 2007 The shares, each of a nominal value of €0.10, have been sold at €0.50.

The combined offering consisted of an offer by the major shareholder David Walsh of 2,600,000 shares and the exercise of the employee share options of 2,147,134 shares, coupled with an issue of 2,000,000 new shares.

It is anticipated that the public offer will further facilitate the group’s acquisitions strategy, thereby accelerating its growth by identifying companies operating within the Microsoft technology market. Through the effective use of its business model and various strategic investments and acquisitions, the group has already consolidated its position within the UK and the Netherlands and has opened up new business opportunities in the DACH market (Germany, Austria and Switzerland).

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