Inside information: The Board of Directors of Solwers Plc has decided on a directed share issue to selected investors

Solwers Plc Company release, inside information 13 December 2022 at 17.30 (EET)

Inside information: The Board of Directors of Solwers Plc has decided on a directed share issue to selected investors

The Board of Directors of Solwers Plc (Solwers or Company) has today, by virtue of an authorisation granted by the Company’s Annual General Meeting on 22 April 2021, decided to issue a total of 1,020,000 new shares in the Company (Issue Shares) in a directed share issue (Share Issue) to selected domestic and international investors. The Board of Directors has approved the terms and conditions of the Share Issue and the subscriptions made in accordance with those terms and conditions.

The subscription price per Issue Share was EUR 4.4 (Subscription Price), amounting to total proceeds of EUR 4,488,000 before any costs and expenses to be paid by the Company in connection with the Share Issue.

The Subscription Price was determined based on investor demand, and it represents a discount of 5.78 percent when compared to the closing price per share of EUR 4.67 on 12 December 2022, i.e., the trading day immediately preceding the date of this release, and a discount of 6.38 percent when compared to the one-week volume-weighted average price (VWAP) per share of EUR 4.70 between 5 December 2022 and 12 December 2022.

The Subscription Prices for the Issue Shares will be recorded in the Company’s fund for invested unrestricted equity.

The Company intends to use the proceeds from the Share Issue to continue its acquisition-based growth strategy.

By offering the Issue Shares to selected qualified investors, it is possible for the Company to raise equity financing in a short period of time and in a cost-efficient manner. According to the assessment of the Board of Directors, the terms and conditions of such financing are more beneficial than the terms that would have otherwise been available to the Company. Therefore, the Board of Directors considers that there are weighty financial reasons from the Company’s point of view for deviating from the shareholders’ pre-emptive subscription right.

After the Share Issue, the aggregate number of shares in the Company will increase to 9,874,782. The Issue Shares correspond to approximately 11.52 percent of all shares in the Company immediately prior to the Share Issue and to approximately 10.33 percent after the Share Issue.

The Issue Shares will be registered with the Finnish Trade Register on or about 16 December 2022. The Company intends to apply for the Issue Shares to be admitted to trading with the Company’s other shares on Nasdaq First North Growth Market Finland so that the trading will begin on or about 19 December 2022.

UB Securities Oy acts as the lead manager of the Share Issue.

Solwers Plc
Board of Directors

Further information:

Leif Sebbas, Chairman of the Board, Solwers Plc, tel. +358 50 044 7744

Certified Advisor:

UB Securities Oy, tel. +358 40 588 6769, email: [email protected]

Distribution:

Nasdaq Helsinki

Key media

www.solwers.fi