Colombia. In an extraordinary meeting, the shareholders' meeting of RCN Televisión, owner of the RCN and NTN24 channels, among other products, approved the issuance and placement of ordinary shares of the Company up to an amount of $100,000 million Colombian pesos.
According to the information reported by the entity, the shares must be placed within a period not exceeding one year, that is, with a term until July 2019 and may be carried out in one or more acts or tranches, as established by the Board of Directors of the Company.
The shares that will go on the market will be without the right of preference of the partners enshrined in Article 9 of the Articles of Association in favor of the natural or legal persons determined by the Board of Directors of the Company and in the conditions and proportions that it defines.
The capitalization of the company up to the sum of $ 100,000 million has the objective of paying debt and obtaining working capital resources, as defined by the shareholders' meeting in its April 2018 session.
