The board of directors’ of Seamless has resolved on a directed issue of shares

The board of directors’ of Seamless Distribution AB (publ) (“Seamless”) has, pursuant to an authorisation from the annual general meeting 2015, resolved on a directed issue of shares of approximately SEK 31.8 million to private and institutional investors who have been identified by Evli Bank Plc. The subscription price was set to SEK 9.00 based on a book building process to private and institutional investors accomplished in December 2015 by Evli Bank Plc. The subscription price corresponds to a discount of approximately 9.5 per cent compared to closing price on 7 December 2015 and a discount of approximately 10.3 per cent compared to the volume weighted average price for last 30 trading days. The issue will raise SEK 31,789,998 for Seamless and a total of 3,532,222 shares have been issued. Payment for the shares shall be made in cash not later than 11 December 2015, or such later date as the board of directors resolves. The issue will entail a dilution for the current shareholders of Seamless of approximately 7.8 per cent, after full dilution. The issue has been implemented with deviation from the shareholders’ preferential rights and the right to subscribe for the shares was only granted to a limited number of private and institutional investors who have been identified through a book-building process, arranged by Evli Bank Plc. A limited number of the subscribers are existing shareholders of Seamless. Furthermore the board member Omar Cordes has subscribed for 10,000 shares in the directed issue. The purpose of the issue, and the reason for the deviation from the shareholders’ preferential right, was to strengthen Seamless financial position. According to the board of directors’ assessment a private placement of shares was, at this point of time, the most favourable way to strengthen Seamless financial position andd the board of directors’ believed that the chosen method did not grant an unfair advantage for the subscribers.

 

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