Resolutions of the Exel Composites Extraordinary General Meeting 2024
EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 17 MAY 2024 AT 12:40 EEST
The Extraordinary General Meeting (EGM) of Exel Composites Plc (the “Company”) was held today on 17 May 2024 at Scandic Marina Congress Center in Helsinki, Finland.
Authorisation to resolve on a rights offering
The Company is planning on conducting a rights offering of up to approximately EUR 23 million (the “Offering”) in accordance with the stock exchange release disclosed by the Company on 25 April 2024.
The EGM authorised the Board of Directors to resolve on the Offering as follows:
The shares to be issued under the authorisation are new shares. Under the authorisation, a maximum of 265 million shares can be issued.
The shareholders have a pre-emptive right to the new shares in the same proportion as they already hold shares in the Company. However, shares not subscribed by shareholders may be offered on a secondary basis for subscription by other shareholders or by other persons. The Board of Directors is entitled to decide to whom the shares that remain unsubscribed will be offered. Subscriptions will be paid in cash.
The Board of Directors is authorised to resolve on all other terms and conditions of the Offering.
The authorisation is valid until 31 December 2024.
The authorisation does not revoke the authorisation granted by the Annual General Meeting on 26 March 2024 to the Board of Directors to resolve on share issues and granting of special rights entitling to shares.
The minutes of the EGM will be available at https://investors.exelcomposites.com/ on 31 May 2024, at the latest.
Helsinki, 17 May 2024
Exel Composites Plc
Board of Directors
For further information, please contact:
Lilli Riikonen, Head of Investor Relations
tel. +358 50 351 1128
Mikko Rummukainen, CFO
tel. +358 20 754 1335
Exel Composites in brief
Exel Composites is one of the largest manufacturers of composite profiles and tubes made with pultrusion and pullwinding technologies and a pultrusion technology forerunner in the global composite market. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications in diverse industrial sectors such as wind power, transportation and building and infrastructure.
Our R&D expertise, collaborative approach and global footprint set us apart from our competition. Our composite solutions help customers save resources, reduce products' weight, improve performance and energy efficiency, and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally.
Headquartered in Finland, Exel Composites employs over 600 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.