RESULTS OF THE PERSONNEL SHARE ISSUE OF BOREO PLC
BOREO PLC STOCK EXCHANGE RELEASE 30 June 2022 AT 9.00 EET
RESULTS OF THE PERSONNEL SHARE ISSUE OF BOREO PLC
On 10 June 2022, the Board of Directors of Boreo Plc decided on a directed share issue to the group’s personnel. A maximum total of 35,000 new shares in the company were offered for subscription in the share issue. The subscription price was EUR 37.56 per share, based on the trade volume weighted average price of the company’s share on Nasdaq Helsinki Ltd during the period from 1 May 2022 to 31 May 2022 and on a discount of 10 per cent calculated thereof. The share subscription period ended on 26 June 2022.
Because the personnel share issue was oversubscribed, the Board of Directors resolved to increase the number of the new shares offered up to a total of 40,000 shares, in accordance with the terms and conditions of the personnel share issue. The Board of Directors approved a total of 40 000 subscriptions for new shares in the share issue. The total subscription price of the new shares is EUR 1 502 400. The shares subscribed for in the personnel share issue together represent approximately 1,5 % per cent of shares and votes in the company. Subscriptions were made by a total of 41 employees of the group.
CEO Kari Nerg: “I am delighted of the fact that the personnel share issue was welcomed positively among our personnel and that the share of employees among shareholders grew significantly. The successful execution of the share issues is an important step towards our objective to align interests of our shareholders and personnel. This provides for great prerequisites for continuing the work focused on creating value for our shareholders.“
The new shares subscribed for in the personnel share issue will be entered in the Trade Register on about July 20, 2022. The new shares will be applied to be admitted to trading on Nasdaq Helsinki Ltd. After the entry of the new shares in the Trade Register, the total number of shares in Boreo Plc will be 2 686 708 shares. The total subscription price of the new shares will be credited in full to the reserve for the company’s invested unrestricted equity.
Boreo Plc
Additional information:
Boreo Plc, CEO Kari Nerg, tel: +358 44 341 8514
Distribution:
Nasdaq Helsinki Ltd
Principal Media
www.boreo.com
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 146.5 million and it employs over 400 people in eight countries. The company’s headquarter is in Vantaa.
