The Board of Directors of Storskogen Group AB (publ) ("Storskogen") has, in accordance with the press release published on 9 May 2022 and based on the authorisation from the annual general meeting on 17 May 2022, resolved upon a directed issue of a convertible of SEK 80 million with mandatory conversion to the seller of Acreto AB ("Acreto").
On 9 May 2022, Storskogen announced that the group had entered into an agreement to acquire 80 percent of the shares in Acreto and that SEK 80 million of the consideration would be paid with B-shares in Storskogen to be delivered on the trading day which occurs 12 months from the date of closing (i.e., on 5 June 2023). In order to secure the delivery of the B-shares and to settle this part of the consideration, the Board of Directors of Storskogen has today, based on the authorisation from the annual general meeting on 17 May 2022, resolved upon a directed issue of a convertible of SEK 80 million, with mandatory conversion on 5 June 2023, to the seller of Acreto. The conversion price will, in accordance with the share purchase agreement and the terms and conditions for the convertible, be the highest of SEK 14 and the Volume Weighted Average Price ("VWAP") per B-share in Storskogen traded on Nasdaq Stockholm during the 4 trading days up to and including the second day before the date of conversion, meaning that the convertible can be converted to a maximum of 5,714,285 new B-shares and with a maximum share capital increase of SEK 2,914.285350 (which, based on number of outstanding shares as of the date of this press release, corresponds to a maximum dilution effect of approximately 0.34 percent of the share capital and approximately 0.19 percent of the votes). The convertible will be subject to a transfer restriction (so-called lock-up) during its term.
For more information, please contact:
Lena Glader, CFO
+46 73 988 44 66
Erik Kronqvist, Head of IR
+46 70 697 22 22
Storskogen acquires and manages well-managed and profitable small and medium-sized enterprises within the business areas Industry, Trade and Services in the Nordic countries, DACH, the United Kingdom, and Singapore. On 31 March 2022, Storskogen consisted of 122 business units with a total of approximately 11,000 employees and a trailing annual turnover (RTM) of over SEK 29 billion.
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