Diös
The New Share Issue
The New Share Issue was oversubscribed and both new and existing institutional shareholders, including the three largest shareholders
The New Share Issue implies that the total number of shares and votes in Diös increases by 7,272,727, from 134,512,438 to 141,785,165, and that the share capital increases by
Use of proceeds and the reasons for the deviation from the shareholders' preferential right
Diös is a real estate company, with an active acquisition strategy, that owns and develops commercial and residential properties in 10 prioritised growth cities in northern
The reasons for the deviation from the shareholders' preferential rights is that Diös wants to strengthen its financial position in order to retain sufficient financial flexibility for continued growth in accordance with the Company's business plan and strategy after the latest acquisition. The Board of Directors intends to strengthen the Company's financial position by carrying out a directed issue, instead of a rights issue with preferential rights for existing shareholders, as the identified need for additional capital is too limited to motivate the costs of a rights issue with preferential rights as these would be high in relation to the capital raised, and because the time required for carrying out a rights issue with preferential rights is longer and may potentially lead to the Company missing out on potential acquisition opportunities. In addition, the Board of Directors considers it to be positive to increase Diös' institutional ownership base, which is also deemed to be positive for the liquidity of the share.
The Board of Directors' overall assessment is thus that the reasons for carrying out the New Share Issue this way outweighs the principal rule that new share issues shall be carried out with preferential rights for existing shareholders and that a new share issue with deviation from the shareholders' preferential rights is in the interest of the Company and all the shareholders.
Lock-up
In connection with the New Share Issue, the Company has, subject to customary exceptions, agreed to not propose or take actions that entail an increase in the share capital before the publication of the Company's Q1 interim report expected to be published on
In addition, the Company's Board of Directors and senior management, that currently owns shares in the Company, have agreed to not sell or otherwise dispose of any shares in the Company before the publication of the Company's Q1 interim report expected to be published on
Advisers
In connection with the New Share Issue, the Company has retained
For further information, please contact:
Phone: +46 (0)10-470 95 03
E-mail: rolf.larsson@dios.se
Johan Dernmar, Head of Investor Relations, Diös
Phone: +46 (0)10-470 95 20
E-mail: johan.dernmar@dios.se
This is information that Diös
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction, neither from the Company nor from someone else.
This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the New Share Issue must be made on the basis of all publicly available information relating to the Company and the Company's shares. Such information has not been independently verified by
This announcement does not constitute a recommendation concerning any investor's option with respect to the New Share Issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in
This press release is not a prospectus for purposes of Prospectus Regulation (EU) 2017/1129 of the
In the
Forward-looking statements
This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is not required by law or Nasdaq Stockholm's rule book for issuers.
Information to distibutors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Diös have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "EU Target Market Assessment"). Solely for the purposes of each manufacturer's product approval process in the
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II or
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Diös and determining appropriate distribution channels.
This is a translation of the Swedish version of the press release. In case of discrepancies, the Swedish wording shall prevail.
https://news.cision.com/dios-fastigheter/r/dios-has-completed-a-directed-new-share-issue-of-7-272-727-shares--raising-approximately-sek-800-mil,c3464653
https://mb.cision.com/Main/198/3464653/1504571.pdf
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