Press Releases | Scandinavian Enviro Systems

Result of rights issue in Scandinavian Enviro Systems AB (publ) - approximately SEK 84.5 million is added through rights issue

2018-12-21

N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

Scandinavian Enviro Systems AB (publ) ("Enviro" or "the Company") has completed a rights issue published on October 26 and approved at an Extraordinary General Meeting on November 27, 2018. The rights issue has been subscribed to a total of 80 percent, of which approximately 37 percent were subscribed with preferential unit rights, approximately 2 percent were subscribed without preferential unit rights and approximately 41 percent were subscribed by guarantees undertaking. Through the rights issue, the Company is allocated approximately SEK 84.5 million before issue costs.

Allotment of units subscribed without preferential unit rights has been made in accordance with the terms stated in the prospectus. Notification of such allocation shall be communicated separately by registered settlement note. Nominee registered shareholders receive a notice of allocation in accordance with instructions from the respective trustees.

Through the rights issue, Enviro's share capital increases by SEK 8,449,224.96 through the issuance of 211,230,624 shares. Following the rights issue, the share capital in the Company amounts to SEK 13,729,990.56 and the number of shares will amount to 343,249,764 shares after registration with the Swedish Companies Registration Office of the rights issue. In addition, 211,230,624 issues warrants entitling the holder to subscribe for one (1) new share. The period of utilization is between September 2 and September 13, 2019. The redemption amount for the warrants will correspond to 70 percent of the volume weighted average retail price of the Company's shares according to the Nasdaq First North official price list for the period from August 15, 2019 through August 29, 2019, but not less than SEK 0.40 and not higher than 1.00 SEK. The warrants are considered admitted to trading on Nasdaq First North after registration of the rights issue has been completed with the Swedish Companies Registration Office.

After the rights issue, the Board and Management have increased their shareholding to 11,116,556 shares, which corresponds to 3.2 percent of the Company. In addition, former major shareholder Pegroco Invest AB increased their holding to 26,015,172 shares, representing 7.6 percent of the Company.

"We are looking forward to realizing the new business model based on the market development we experience. The first part of the issue gives us very good prerequisites for establishing ourselves in the next phase, which involves the establishment of facilities with ownership. We wish existing and new shareholders a Merry Christmas and a Happy New Year", says Thomas Sörensson, CEO Envrio.

For more information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com

Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, is the company´s Certified Adviser.

Scandinavian Enviro Systems AB
Regnbågsgatan 8C
SE-417 55 Gothenburg, Sweden
info@envirosystems.se
www.envirosystems.se

Scandinavian Enviro Systems AB (publ) is required to publish this information under the EU market abuse regulation. The information is provided by the contact person listed above for publication on December 21st, 2018 at 08:15 CET.

Important information

This press release is not an offer to subscribe for units in Enviro and investors should not subscribe or acquire any securities. Invitation to concerned persons to subscribe for units in Enviro will only be made through the prospectus.

This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions.

Neither unit rights, units subscribed for ("BTU"), newly issued shares or warrants have been recommended or approved by any US federal or state securities authority or regulatory authority. No unit rights, BTU, newly issued shares have been registered or will be registered under the United States Securities Act of 1933, as applicable, or in accordance with applicable laws in the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or in any other country where the Rights Issue or distribution of the press release is in violation of applicable laws or regulations or presupposes that a further prospectus is established, registered or that any other measure is undertaken beyond that required by Swedish law.

There is no intention to register any portion of the offer in the United States and the securities issued in the Rights Issue will not be offered to the public in the United States.

This press release may contain certain forward-looking information that reflects Enviro's current views on future events as well as financial and operational development. Words that are "intended", "come", "judged", "expected", "can", "plan", "appreciate" and other expressions that imply indications or predictions about future developments or trends, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it depends on future events and circumstances. Forward-looking information does not constitute a guarantee of future performance or development and actual outcomes may differ substantially from what is stated in forward-looking information. This information, the opinions and the forward-looking statements contained in this press release are valid only on this date and may be amended without notice. Enviro makes no representations about publishing updates or revisions of forward-looking information, future events or similar circumstances other than the applicable law.

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