Stockmann Oyj : decided on a directed share issue of 28,139 new shares in accordance with its restructuring programme to creditors of confirmed restructuring debts; the Company files a listing application 27.01.2022
January 27, 2022 at 08:39 am
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STOCKMANN plc, Other information disclosed according to the rules of the Exchange, 27.1.2022 at 15:30 EET
The directed share issue
Stockmann plc's ("Stockmann" or the "Company") Annual General Meeting resolved on 7 April 2021, in accordance with the terms of the Company's restructuring programme approved by the Helsinki District Court on 9 February 2021 (as amended, the "Restructuring Programme"), to authorize the Board of Directors of the Company to decide on the directed issuance of at most 30,000,000 new shares of the Company to the creditors of conditional and disputed debts as well as the creditors of restructuring debt that will be determined later during the Restructuring Programme, to enable conversion of parts of their receivables into shares in the Company.
The Company's Board of Directors has today on 27 January 2022 decided, in accordance with the Restructuring Programme and pursuant to the authorization granted by the Annual General Meeting, to issue 28,139 new shares of the Company (the "Conversion Shares") in deviation from the shareholders' pre-emptive subscription rights to creditors whose previously conditional or disputed restructuring debts under the Restructuring Programme have been confirmed to their final amounts by 1 December 2021 (the "Share Issue") and has approved the subscriptions made in the Share Issue.
The subscription price in the Share Issue was EUR 0.9106 per share, which has been paid by setting off restructuring debt in accordance with the Restructuring Programme. As a result of the Share Issue, the total number of shares in the Company will increase by 28,139 shares to a total of 154,465,083 shares.
After the Share Issue, the Company will continue to have restructuring debt under the Restructuring Programme that is conditional, maximum amount or disputed, in respect of which the amount subject to the payment programme will be confirmed later, and the creditors of such restructuring debt will be entitled to conversion after their respective restructuring debt receivables have been confirmed.
Registration and listing of the shares
The Conversion Shares will be registered with the Finnish Trade Register on or about 28 January 2022 and recorded on the book-entry accounts of the subscribers on or about 1 February 2022. The Conversion Shares will, as of their registration and recording on the book-entry accounts, confer the same rights as the Company's other shares.
Stockmann will today also submit an application for the Conversion Shares to be admitted to trading on the main market of Nasdaq Helsinki Ltd. Trading with the Conversion Shares is expected to commence on or about 1 February 2022 under the trading code "STOCKA".
Further information:
Jukka Naulapää, Chief Legal Officer, tel. +358 9 121 3850
www.stockmanngroup.com
STOCKMANN plc
Jari Latvanen
CEO
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Nasdaq Helsinki
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Stockmann Oyj Abp published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 13:38:02 UTC.
Lindex Group Oyj, formerly Stockmann Oyj Abp, is a Finland-based company active in the retail trade sector. The Company's operations, along with its subsidiaries, are structured into three business divisions: Fashion Chains (Lindex), which implies in the fashion trade, Stockmann Retail, which is engaged in the department store trade and distance retailing, and the Real Estate segment, which manages the use of space in the properties owned by the Company and its subsidiaries (the Group). The Fashion Chains segment covers over 450 stores in more than 10 countries, where the products comprise women's wear, lingerie, children's wear and cosmetics. The Stockmann Retail segment comprises department and the Stockmann online stores. The Real Estate segment comprises the properties owned by the Group in Helsinki, St Petersburg, Tallinn and Riga and used by the Group or external tenants. The Group operates in Sweden, Norway, the Baltic states among others.
Stockmann Oyj : decided on a directed share issue of 28,139 new shares in accordance with its restructuring programme to creditors of confirmed restructuring debts; the Company files a listing application 27.01.2022