SOURCE: LBi International N.V.

September 07, 2010 03:22 ET

LBi International N.V. Closes EUR 10 Million Rights Offering

AMSTERDAM, THE NETHERLANDS--(Marketwire - September 7, 2010) - LBi International N.V. ("LBi") announces that, in connection with its 1 for 6 Rights Offering ("Rights Offering") of 10,337,212 new ordinary shares with a nominal value of EUR 0.25 each in the share capital of LBi at an issue price of EUR 1.00 per New Share, it has received subscriptions for 9,845,647 New Shares through the valid exercise of transferable subscription entitlements ("SETs"). This represents a take-up of 95.2% of the offering size of approximately EUR 10 million.

As stated in the Prospectus dated 22 July 2010, the Underwriters Janivo and Cyrte have committed to subscribe for any and all New Shares, which are not subscribed for during the Exercise Period (defined as the Rump Shares), at the Offer Price up to an amount of EUR 10,000,000. Janivo and Cyrte in their capacity as Underwriters have hence taken up 154,353 shares. 

The net cash proceeds of the rights offering will be applied to finance new acquisitions in the key markets where LBi intends to grow, amongst which are Asia, the Middle-East and the USA, and will be used for working capital purposes.

LBi issued 10,000,000 new ordinary shares, corresponding with 7.6% of the total issued share capital. The total number of outstanding and listed shares after issuance amounts to 141,156,606 shares.

About LBi

LBi is a global digital marketing and technology agency, blending insight, creativity and expertise to solve business problems. The largest genuinely full service agency of its kind in Europe, LBi provides the full range of digital capabilities, including digital strategy, branded content, service design, media, CRM, technology, managed hosting and support services.

The company employs approximately 1,600 professionals located primarily in the major European, American and Asian business centres; such as Amsterdam, Atlanta, Berlin, Brussels, London, Milan, Mumbai, New York, Paris and Stockholm. LBi is listed on NYSE Euronext in Amsterdam (symbol: LBI).

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