Exercise of Rights and oversubscription by Millicom (Tigo) Directors and Executives

Rhea-AI Summary

Millicom (TIGO) announced the successful exercise of rights by its Directors and Executives as part of its rights offering dated May 18, 2022. During the subscription period from May 27 to June 13, 2022, they exercised 526,140 rights, achieving an impressive 98% subscription rate. This resulted in acquiring 368,298 new shares. Additionally, Millicom's Directors oversubscribed amounting to 4,500 shares. This activity reflects strong support from leadership in enhancing shareholder value.

Positive

• 98% subscription rate during rights offering.
• Acquisition of 368,298 new shares by Directors and Executives.
• Oversubscription of 4,500 shares indicates confidence in the company's future.

Negative

• None.

Exercise of Rights and oversubscription by Millicom (Tigo) Directors and Executives

Luxembourg, July 5, 2022 – On May 18, 2022, Millicom International Cellular S.A. ("Millicom") announced the terms of its rights offering. On May 23, 2022, in accordance with the terms of the rights offering, on the basis of their prior share ownership, Millicom’s Directors and Executives received, in aggregate, 537,222 rights to acquire additional shares.

During the subscription period, from and including May 27, 2022 up to and including June 13, 2022, Millicom Directors and Executives exercised, in aggregate 526,140 of their rights (including 100% exercised by Millicom’s CEO), representing an aggregate 98% subscription rate, resulting in their acquiring 368,298 new shares. In addition, Millicom’s Directors subscribed for and acquired 4,500 additional shares (oversubscription). Details of these transactions are available on Millicom’s website.

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For further information, please contact

Press: Yocasta Valdez, Sr. Manager Digital Media & Communications press@millicom.com

Investors: Michel Morin, VP Investor Relations Sarah Inmon, Director Investor Relations investors@millicom.com

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2022, Millicom employed approximately 20,000 people and provided mobile and fiber-cable services through its digital highways to around 50 million customers, with a fiber-cable footprint of close to 13 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

 

Attachment

• Exercise of Rights and oversubscription by Millicom (Tigo) Directors and Executives

FAQ

What was the outcome of Millicom's rights offering on June 13, 2022?

Millicom's Directors and Executives exercised 526,140 rights, achieving a 98% subscription rate.

How many new shares did Millicom's Directors and Executives acquire?

They acquired a total of 368,298 new shares through the rights offering.

What does the oversubscription of shares by Millicom's Directors indicate?

The oversubscription of 4,500 shares indicates strong confidence and support from the company's leadership.