Zutec Holding AB contemplates a directed share issue to raise approximately SEK 80 million
5.31 PM CEST / 25-May-2021 / Zutec Holding AB (SEMM:ZUTEC)
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NOT CONSTITUTE AN OFFER OF ANY SECURITIES OF ZUTEC.
Zutec Holding AB (publ) (“Zutec” or the “Company”) has mandated Skandinaviska Enskilda
Banken to evaluate the possibility to carry out a directed share issue of approximately SEK 80
million to institutional investors. Main shareholder Athanase Industrial Partner (“Athanase”)
has committed to subscribe for shares corresponding to a value of approximately SEK 37
million. The directed issue is conditional upon shareholder approval at an Extraordinary
General Meeting (the “EGM”), expected to be held on or around June 11, 2021, however no
later than July 1, 2021 in addition to the capital increase having been registered by the Swedish
Companies Registration office (Sw. Bolagsverket) no later than July 15, 2021.
The directed share issue is being conducted through an accelerated bookbuilding process
which will commence immediately following this announcement and may close at any time
on short notice. A further announcement will be made following the completion of the
Bookbuild and the pricing of the directed share issue.
Investors will be offered interim shares, which will be converted to new ordinary shares
following approval of the directed share issue by shareholders at an EGM. Main shareholder
Athanase, representing approximately 47 per cent of the shares and votes in Zutec, has
undertaken to vote in favour of the directed share issue at such EGM and not to dispose of
any such shares prior to the EGM. Subject to customary exceptions, Athanase, the Company,
management and board members of the Company have agreed to a lock-up until the period
ending 90 days after approval at the EGM of the new issue.
The Company intends to use the proceeds from the directed share issue to finance continued
organic growth through initiatives within sales, marketing and product development, as well
as for M&A purposes.
The reasons for the deviation from the shareholders’ pre-emption rights are that the Company
shall, in a timely manner, be able to secure the Company’s capital need for the operations, as
well as broaden the ownership structure of the Company with institutional investors.
For further information, please contact
Gustave Geisendorf, CEO,
Tel: +353 1 21 3565,
This is information that Zutec Holding AB (publ) is obliged to make public pursuant to the EU
Market Abuse Regulation. The information was submitted for publication, through the agency
of the contact person set out above, on May 25, 2021 at 17:31 CET.
About Zutec Holding AB (publ)
Zutec is a provider of cloud-based construction management software with operations in
Dublin, Abu Dhabi, London and Melbourne. Zutec Holding AB (publ) is listed on Nasdaq First
North Growth Market and Redeye AB is the Company’s acting Certified Adviser (Tel. +46 8 121
576 90, firstname.lastname@example.org, www.redeye.se).
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