COX ENERGY AMÉRICA, S.A.B. DE C.V., Begins the Process for a Capital Increase
MEXICO CITY, July 12, 2021 /PRNewswire/ -- COX ENERGY AMÉRICA, S.A.B. DE C.V. ("Cox", "Cox Energy América" or "the Company") (BIVA: COXA*), a renewable solar energy (photovoltaic) generating company, informs that it begun the preferred subscription rights process for holders of common and registered shares, which have no face value and are identified by the ticker (BIVA: COXA) (BMV: COXA), following the capital increase approved during Cox Energy América Shareholders' Extraordinary General Meeting, which took place on March 22nd, 2021 ("Capital Increase").
Following the Capital Increase, the Company will offer up to 18,469,536 single series class "II" common and registered shares, which have no face value, priced at $34.00 (thirty-four pesos (00/100 M.N.) per share.
Cox Energy América's shareholders will be able to exercise their preferred right in the Capital Increase, in proportion to their current holdings, from July 12th, 2021 until July 26th, 2021 (the "Preferential Right"); and in the case that there are still shares pending subscription and payment, once the established period had concluded, the Company's shareholders who claim this right, will have an additional period of 10 (ten) calendar days, starting on the date that the Board of Directors gives notice of the remaining shares, to subscribe and pay for said shares (the "Additional Preferential Right").
For further details, please consult the Subscription Notice published by the Company on the Bolsa Institucional de Valores de México (BIVA) and the Ministry of Economy. SUBSCRIPTION NOTICE
Enrique Riquelme Vives, Chairman of the Board of Directors of Cox Energy América commented: "This capital increase will help us execute our 2020 – 2024 Strategic Plan, which focuses on the development, operation and generation of photovoltaic energy projects, which will allow Cox Energy to secure our leading position in the market." He added: "Additionally, the capital increase will contribute to reinforce the stock liquidity plan for COXA, seeking to increase the stock's performance, while continuously seek the highest return for our shareholders."
ABOUT COX ENERGY AMÉRICA
Cox Energy América is a photovoltaic renewable solar energy generation company, listed on the Mexican Institutional Stock Exchange ("BIVA"). COX develops, promotes and operates photovoltaic plants in the main Latin American countries, with a presence in Mexico, Chile, Colombia, Guatemala, Central America and the Caribbean. It has a unique portfolio of projects at different stages of development and has identified opportunities to carry out its activities within a sustainable development framework.
DISCLAIMER
This document contains certain statements related to the comprehensive overview of Cox Energy América (COX that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. The statements contained herein reflect the current views of COX with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause future results, performance or achievements of COX to differ from those expressed or implied by such forward looking statements, including, among others, economic or political changes and global business conditions, changes in exchange rates, the overall state of the industry, changes in demand for photovoltaic energy, raw material costs, etc. If one or more of these risks occur, or should the underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. COX does not intend nor assume any obligation to update the statements presented in this document.
Contact: Investor Relations, [email protected]
SOURCE COX ENERGY AMERICA
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