Kollect on Demand Holding AB (publ) announces block trade of Warrants
Today on Jul 12, 2021, Kollect on Demand Holding AB (publ) (“Kollect” or the “Company”) announces that a new investor has acquired a block of 400,000 warrants.
A syndicate of private investors, led out of Iceland, acquired a block of 400,000 TO1 Warrants at a price of SEK 2 per warrant from a small group of sellers after the market closed on Friday, Jul 9, 2021. The price represented a discount of approximately 20% to the last traded price of SEK 2.52 on the day.
The block is equal to 10.83% of the total issued warrants in the TO1 program. If 100% of the warrants are exercised in August, the new shares from the block would give a holding of 4.18% of the Company’s total number of shares post-exercise.
Included in the group of sellers were two of Kollect’s Co-Founders including John O’Connor, CEO, who sold 207,304 of his warrants. As announced previously, the Co-Founders, who between them initially held 38% of the warrants have been gradually selling down their holdings. This is because it is in the Company’s best interests to maximise the exercise of warrants and minimise the number that lapse, and they are not personally in a financial position to exercise all their warrants.
Johnny Fortune, Chairman of Kollect, said: “The Company is pleased to have a new investor that has acquired a significant block of warrants. Kollect expects that the new investor intends to exercise the warrants in full and subscribe for new shares. This trade derisks the warrant program appreciably and also provides the Co-Founders the funds with which to exercise the balance of their warrant holdings.”
For further information, please contact:
John O’Connor, VD
+353 87-1218907
[email protected]
www.kollect.ie
About Kollect
Founded in Waterford, Ireland, Kollect is an innovator and disruptor in the waste industry listed on the Nasdaq First North Growth Market (symbol: KOLL) and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, [email protected], www.mangold.se).
The Company services two types of customers: those who arrange to have waste collected (bins, skips or junk removal) via the online Kollect booking engine; and those who use BIGbin smart compactor bins for waste drop-off.
The services include domestic, door-to-door bin collection, commercial bin collection, container hire and junk removal such as furniture and other large objects. For more information, visit www.kollect.ie.
