Prospectus EN
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FORTUNA ENTERTAINMENT GROUP N.V. a limited liability company (Naamloze Vennootschap), having its registered office at Strawinskylaan 809 WTC T.A/L 8, 1077XX Amsterdam, the Netherlands and registered with Register of the Chamber of Commerce under number 34364038 Offering of up to 15,830,000 Shares (subject to the Over-allotment Option as defined below to increase such amount by up to 2,370,000 Shares) with a nominal value of EUR 0.01 and admission to trading on the main markets of the Warsaw Stock Exchange and the Prague Stock Exchange of all the Shares issued in the share capital of Fortuna Entertainment Group N.V. This document (the "Prospectus") has been prepared for the purpose of (i) the offering (the “Offering”) of up to 15,830,000 ordinary registered shares (subject to the Over-allotment Option as defined below to increase such amount by up to 2,370,000 shares) in the share capital, consisting of ordinary registered shares, each with a nominal value of EUR 0.01 (the "Shares"), in Fortuna Entertainment Group N.V. (the “Issuer”), and (ii) the admission of the entire issued share capital of the Issuer (i.e., up to 52,000,000 Shares) to trading on the main markets of Giełda Papierów Wartościowych w Warszawie S.A. (the Warsaw Stock Exchange, the “WSE”) and of Burza cenných papírů Praha, a.s (the Prague Stock Exchange, the “PSE”). Up to 2,000,000 newly issued Shares (the “New Shares”) to be issued by the Issuer will be offered for subscription and for sale up to 13,830,000 existing Shares (the “Sale Shares”) held by the Issuer’s sole shareholder Penta Investments Limited (the "Selling Shareholder"), a company organised under the law of Cyprus. Such New Shares and Sale Shares are referred to as the offer shares (the "Offer Shares"). The Issuer will only receive the net proceeds from the sale of the New Shares, whereas the Selling Shareholder will receive the net proceeds from the sale of the Sale Shares and the additional Shares to be offered in connection with the Over-allotment Option as described below (the “Over-allotment Shares”), if any. The Offer Shares offered in this Offering constitute a minority interest in the Issuer. Prior to the Offering, the Selling Shareholder owns 100 % of the issued share capital of the Issuer. The Offering consists of (i) a public offering in Poland, (ii) a public offering in the Czech Republic, (iii) a public offering in Slovakia, and (iv) an international offering by way of private placements to certain institutional investors outside Poland, the Czech Republic and Slovakia, in each case in accordance with applicable securities laws. The Offer Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The Offer Shares are being offered and sold only outside the United States in offshore transactions in reliance on Regulation S under the US Securities Act (“Regulation S”) and may not be offered or sold within the United States or to, or for the account or benefit of, US persons (as defined in Regulation S) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act (see "Selling Restrictions"). The Offer Shares are being offered, as specified in this Prospectus, subject to cancellation or modification of the Offering and subject to certain other conditions. This Prospectus constitutes a prospectus for the purposes of Article 3 of European Union (EU) Directive 2003/71/EC (the “Prospectus Directive”) and has been prepared in accordance with Chapter 5.1 of the Dutch Financial Supervision Act (Wet op het financieel toezicht) and the rules promulgated thereunder (the Dutch Financial Supervision Act). The Autoriteit Financiële Markten (the "AFM") in its capacity as the competent authority in the Netherlands under the Dutch Financial Supervision Act, has approved this document as a prospectus. The Issuer has requested that the AFM provide the competent authority in Poland, Komisja Nadzoru Finansowego (Polish Financial Supervision Authority, the "PFSA"), in the Czech Republic, Česká národní banka (Czech National Bank, the "CNB") and in Slovakia, Národná banka Slovenska (National Bank of Slovakia, the "NBS") with a certificate of approval attesting that this Prospectus has been drawn up in accordance with the Prospectus Directive. See "Risk Factors" for a discussion of certain considerations to be taken into account when deciding whether to invest in the Offer Shares. Prior to the Offering, there was no public market for the Shares. Based on this Prospectus, the Issuer intends to apply for the entire issued share capital as at the Settlement Date as defined below (i.e., up to 52,000,000 Shares), including the Offer Shares, to be admited to listing and trading on the main market of the WSE and the PSE (the “Admission”). The conditional trading in the Offer Shares is expected to commence on the PSE on 22 October 2010. There will be no conditional trading on the WSE. The Issuer expects that the date on which trading in the Shares on the PSE will commence on or around 27 October 2010 (the “PSE Listing Date”) and expects that the date on which trading in the Shares on the WSE will commence on or around 28 October 2010 (the “WSE Listing Date”). Settlement of the Offering is expected to be made on 26 October 2010 (the “Settlement Date”). Prospective retail and institutional investors in the Czech Republic, Poland and Slovakia as well as selected prospective institutional investors (other than “US persons” as defined in Regulation S) may subscribe for or purchase the Offer Shares during a period which is expected to commence on 11 October 2010 and is expected to end on 21 October 2010. The final Offer Price and the final number of the Offer Shares offered will be determined jointly by the Issuer and the Selling Shareholder in agreement with the Sole Global Coordinator and Sole Bookrunner on 21 October 2010 (the “Pricing and Allotment Date”), based on interest from investors and will, in accordance with Art. 5:18 of the Dutch Financial Supervision Act, Art. 36d of the Czech Capital Markets Act and Art. 122 of the Slovak Securities Act be filed with the AFM, the PFSA, the CNB and the NBS and published in the same manner as this Prospectus and by way of a press release. If the Offering is cancelled prior to the Settlement Date, all subscriptions for the Offer Shares will be disregarded, any allotments made will be deemed null and void, and any subscription payments made will be returned without interest or other compensation. All dealings in the Offer Shares prior to settlement and delivery of the Offer Shares and during conditional trading on the PSE are at the sole risk of the parties concerned. The Offer Shares will be accepted for settlement through Clearstream Banking (the “Clearstream”), Krajowy Depozyt Papierów Wartościowych S.A. (the Polish National Depository for Securities, the “NDS”) and Centrální depozitář cenných papírů, a.s. (the Czech Central Securities Depository, the “CDCP”). Delivery of the Offer Shares is to be made through the facilities of these clearing systems, and is is expected to take place on or about 27 October 2010 for participants of the CDCP (the “CDCP Delivery Date”) and on or about 27 October 2010 for participants of the NDS (the “NDS Delivery Date”). In connection with the Offering, the Selling Shareholder has granted to the the Sole Global Coordinator and Sole Bookrunner an option (the “Over-allotment Option”), exercisable for 30 calendar days after the announcement of the Offer Price, i.e. 30 calendar days after the Pricing and Allotment Date, to make available additional 2,370,000 existing Shares or representing up to 15 % of the aggregate number of Offer Shares available in the Offering, i.e. the Over-allotment Shares at the Offer Price to cover over-allotments, if any, made in connection with the Offering and to cover short positions resulting from stabilisation transactions, if any. Such stabilisation shall be conducted in accordance with the rules set out in the European Commission Regulation (EC) No. 2273/2003 of 22 December 2003, implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programmes and stabilisation of financial instruments (the “Stabilisation Regulation”). Offer Price: To be determined in EUR and announced on or around 22 October 2010 UniCredit CAIB Poland S.A. will act as the offeror and listing agent for the Offering and listing of the Shares on the WSE (the “Polish Retail Manager”). Česká spořitelna, a.s. will act as the offeror and listing agent for the Offering in the Czech Republic and listing of the Shares on the PSE (“Czech Retail Manager”). Slovenská sporiteľňa, a.s. will act as the offeror for the Offering in the Slovak Republic (the “Slovak Retail Manager”). UniCredit Bank AG (London Branch) is the Sole Global Coordinator and Sole Bookrunner of the Offering. Erste Group Bank AG is the Joint Lead Manager. Sole Global Coordinator and Sole Bookrunner UniCredit Bank AG (London Branch) Joint Lead Manager Erste Group Bank AG The date of this Prospectus is 6 October 2010 Prospectus of Fortuna Entertainment Group N.V. TABLE OF CONTENTS SUMMARY.............................................................................................................................................................................................. 5 Introduction of the Fortuna Group..........................................................................................................................................................