Today an extraordinary general meeting was held in
The extraordinary general meeting resolved to approve the board of directors' resolution on issuance of new shares with deviation from the shareholders' preferential rights.
As communicated in the Company's press releases from
The new share issue entails an increase of the Company's share capital by a maximum of
The rationale for carrying out the share issue is to secure financing of the Company's operations and previously communicated strategy shift. The board of directors has made an overall assessment and carefully considered the possibility to raise capital through a rights issue with preferential right for the Company's existing shareholders. The board of directors considers that the reasons for deviating from the shareholders' preferential right are (i) that a rights issue would take a significantly longer time to complete and entail a higher risk for an adverse effect on the share price, particularly in light of the current market volatility and the challenging market conditions, (ii) to diversify and strengthen the Company's shareholder base with institutional investors, (iii) to carry out a directed share issue can be made at lower costs and with less complexity than a rights issue and in light of the current market conditions, the board of directors has assessed that a rights issue would also require external underwriting from a guarantor syndicate that would entail additional significant costs. Considering the above, the board of directors has made the assessment that a directed share issue with deviation from the shareholders' preferential right is the most favourable alternative for the Company to finance the announced new strategy, creates value for the Company and is in the best interest of the Company's shareholders. The board of directors thus considers that the reasons outweigh the main rule that new share issues are to be carried out with preferential rights for the shareholders.
For more information on the new share issue, please refer to the press releases published on the Company's website on
For further information, please contact:
Mob: +46 73 382 43 90
morten.henneveld@ossdsign.com
Certified Adviser:
The information was submitted for publication, through the agency of the contact persons set out above, on
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https://news.cision.com/ossdsign-ab/r/extraordinary-general-meeting-held-in-ossdsign-ab,c3854212
https://mb.cision.com/Main/18020/3854212/2360583.pdf
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