Boreo will execute a directed share issue to the sellers Olli Säynevirta and Jouni Maavuori as part of acquisition of Filterit Oy

Boreo Plc      Stock exchange release     20 December 2022 at 09:00 EET                                 

Boreo will execute a directed share issue to the sellers Olli Säynevirta and Jouni Maavuori as part of acquisition of Filterit Oy

Boreo Plc has today on December 20, 2022 signed the acquisition of shares in Filterit Oy (“Filterit” or “the Company”), as separately communicated in an Investor news today.

As part of the transaction, Boreo will issue a c. EUR 0.4 million directed share issuance to the sellers of the Company, Olli Säynevirta through his company and Jouni Maavuori. The number of new shares issued is 9 645 at a price of 41.48 euros per share (based on the 30 days average volume weighted share price of Boreo on the Nasdaq Helsinki until 13 December 2022), representing c. 0,36 percent of Boreo’s total outstanding shares and votes after the issuance. After the registration of the issued shares, the total number of shares outstanding for Boreo is 2 711 353.

The new shares are expected to be registered in the week beginning on 2 January 2023, based on average registration times. The new shares will establish shareholder rights as of registration date. The shares will start trading on the Nasdaq Helsinki Oy main list within one banking day of registration of the shares on The Finnish Trade Register.

Vantaa, 20 December 2022

Boreo Plc
Kari Nerg
CEO

Distribution:
NASDAQ Helsinki Ltd
Principal media
www.boreo.com

Further information:

Kari Nerg
CEO
tel +358 44 341 8514

Aku Rumpunen
CFO
tel +358 40 556 3546

Boreo in brief:

Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing small and medium sized companies in Northern Europe. Boreo's business operations are organized into three business areas: Electronics, Technical Trade and Heavy Machines.

Boreo’s main objective is to create shareholder value in the long-term. It aims to achieve this with an acquisition-driven strategy, creating optimal conditions for its businesses to increase sales and improve profitability, and by being a best-in-class home for its companies and personnel. ​

The Group's net sales in 2021 were EUR 122 million and it employs some 300 people in seven countries. The company’s headquarter is in Vantaa.