(Alliance News) - Portobello Spa announced Thursday that its board of directors has set the terms of the EUR8.0 million capital increase to be offered under option to shareholders.

1.1 million new ordinary shares will be issued, with a subscription price of EUR7.00 per share. For each ordinary share held, one option right will be assigned with the issuance, therefore - taking into account the 8,550 treasury shares in the company's portfolio and subject to the waiver by the shareholder Expandi Srl of 74,602 option rights necessary to square the transaction - of a total of 3.4 million option rights. For every three rights, one new share will be available for subscription.

The option rights will be exercisable from Jan. 15 to Feb. 1.

Portobello's stock is down 5.5 percent at EUR7.56 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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