TMCnet News
Axtel Informs Adjustment on the Equity Participation of ALFAAxtel (News - Alert), S.A.B. de C.V. (BMV:AXTELCPO) ("Axtel" or the "Company"), a Mexican Information and Communications Technology company, announced that in accordance with the resolutions approved at the Extraordinary General Shareholders' Meeting of Axtel held on January 15, 2016 (the "Shareholders' Meeting"), related to the merger of Onexa S.A. de C.V. into Axtel, the Company will transfer 1,019'287,950 of Axtel's Class "I" Series "B" shares to Alfa, S.A.B. de C.V. ("ALFA"), equivalent to 2.50% of Axtel's capital stock. These shares were previously held in the Company's treasury and are transferred to ALFA as part of the agreed-upon merger consideration contemplated in the merger agreement and approved in the Shareholders' Meeting. Effectively today, these shares will be considered subscribed paid-up capital. This adjustment is based on the terms and conditions approved on the Shareholders' Meeting and is the result of a formula based on the average exchange rate of the Mexican Peso against the U.S. Dollar during an 18-month period which started on January 15, 2016. Except for the aforementioned adjustment, the Shareholders' Meeting did not authorize any other modificaion in the capital stock as a result of adjustments to the consideration agreed in the merger agreement and approved on the Shareholders' Meeting. About Axtel Axtel is a Mexican Information and Communication Technology Company that serves the enterprise, government and residential markets with a robust portfolio of solutions through its brand Alestra (News - Alert) (enterprise and government services) and its brand Axtel (residential and small businesses services). With a network infrastructure of over 40 thousand kilometers of fiber and more than 7 thousand square meters of data center, Axtel enables organizations to be more productive and brings people together to improve their quality of life. Axtel is a subsidiary of Alfa S.A.B. de C.V., which owns approximately 53.5% of its equity. Axtel shares, represented by Ordinary Participation Certificates, or CPOs, trade on the Mexican Stock Market under the symbol "AXTELCPO" since 2005.
Axtel's Investor Relations Center: www.axtelcorp.mx View source version on businesswire.com: http://www.businesswire.com/news/home/20170718005832/en/ |
