Following the end of the subscription period ending 15 June 2020 of Zutec Holding AB’s (“Zutec” or “the Company”) fully guaranteed rights issue of approximately SEK 40.4 million (the “Rights Issue”) and new issue of shares to the public of Sweden and Ireland of approximately SEK 2 million (the “Directed Issue”) (together the “Offer”), the Company today announces the outcome in the Offer.

The Rights Issue was subscribed for a 66,47 per cent with subscription rights. Additionally, 33,52 per cent of the Rights Issue was subscribed without subscription rights. The total demand in the Rights Issue amounted to 159,57per cent.

The Directed Issue has been fully subscribed by the guarantors in accordance with their respective commitments.

The total demand in the Offer amounted to 152,03 per cent. Thus, the Offer was fully subscribed and Zutec receives approximately SEK 42.4 million before issue and guarantee costs.

Notification of allotment is made through a settlement note sent to each subscriber. Shares must be paid in accordance with instructions in the settlement note.

Following registration of the new shares with the Swedish Companies Registration Office, the Company’s share capital will increase by SEK 7,434,211 to a total of SEK 8,850,877.8. The number of shares in the Company will increase by 37,171,055 shares to a total of 44,254,389 shares.

Trading in paid subscribed shares (BTA) takes place on the Nasdaq First North Growth Market until the new shares have been registered with the Swedish Companies Registration Office, which is expected to take place during week 27, 2020.

Advisors

Eversheds Sutherland Advokatbyrå AB is acting as legal advisor in connection to the Offer. Avanza Bank AB is acting as issuing agent in connection to the Offer.

For more information, please contact:

Gustave Geisendorf, CEO at Zutec

gustave.geisendorf@zutec.com, +353 1 201 3565

 

This information is such information that Zutec Holding AB is obliged to disclose in accordance with the EU Market Abuse Regulation. The information was submitted, for publication by the above contact person, for publication on 22 June 2020 at.16.35 CEST.

About Zutec

Zutec is a niche provider of cloud-based software solutions for the construction industry.

Zutec Holding AB (publ) is listed on Nasdaq First North Growth Market and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, CA@mangold.se, www.mangold.se).

Important information

The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Zutec.

Neither subscription rights, paid subscribed shares (“BTA”) nor newly issued shares have been recommended or approved by any US federal or state securities authority or regulatory authority. No subscription rights, BTAs or newly issued shares have been registered or will be registered under the United States Securities Act of 1933 in its current wording, or under any other applicable law in the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or in any other country where the Offer or distribution of the press release is contrary to applicable laws or regulations or requires that further prospectuses be prepared, registered or that any other measure is taken in addition to what is required by Swedish law. Accordingly, the press release, as well as the prospectus, application form and other documents attributable to the Rights Issue and Private Placement, may not be distributed to or within any such jurisdiction.

Not for publication, distribution or announcement, directly or indirectly, in or into the USA (including the District of Columbia) (the “USA”), Australia, Japan, New Zealand, Singapore, Hong Kong, Canada or any other jurisdiction in which publication, distribution or announcement of this press release is unlawful or is subject to legal restrictions other than those required by Swedish law.