(Alliance News) - Execus Spa announced Thursday that it has approved a capital increase of up to EUR2.5 million to be offered by July 8, reserved for qualified investors and strategic partners.

The aucap is to be subscribed in cash with issuance of up to 1.4 million new ordinary shares.

The board of directors set the minimum subscription price at EUR1.76 per share and the maximum subscription price at EUR1.78 per share.

The company explained that the aucap is aimed at achieving the strategic objective of growth by external lines already declared when Execus was admitted to trading on Euronext Growth Milan.

"With this in mind, as a preparatory step to the acquisition of new target companies in target sectors and, therefore, substantially, in order to support growth by external lines, the issuer also intends to make use of new bank financing in the amount of approximately EUR1.5 million," the statement said.

On Thursday, Execus closed flat at EUR1.80 per share.

By Claudia Cavaliere, Alliance News reporter

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