European animation studio, Xilam Animation has secured a €22.3 million capital increase through the sale of new shares to private investors.
The funds will be allocated to a significant post-2019/2020 company expansion, which will see Xilam build upon its current success in creating, producing and distributing original children’s and family entertainment.
It will also enable the company to explore new acquisition and co-production opportunities.
In light of strong demand, Xilam issued 446,500 new shares for a total amount of €22.325 million, accounting for 9.09 per cent of the company’s share capital after the transaction. Following the capital increase, Marc du Pontavice, chairman, CEO and founder of Xilam, retains 54.31 per cent of the voting rights in the company.
The transaction was executed by decision of the board of directors on June 26 this year and of the chief executive officer on the same day. Settlement of the new shares issued and their admittance to trading on Euronext Paris are scheduled for June 29.
The new shares will bear current dividend rights and will be admitted for trading on the Euronext Paris. Xilam’s share capital will comprise 4,911,500 shares following settlement.