Hexatronic resolves on new issue in kind for the acquisition of Baltronic Group OÜ and Toronics Inc
Read the original press release here.
The Board of Directors of Hexatronic Group AB (publ) (“Hexatronic” or the “Company”) has resolved, pursuant to the authorisation granted by the annual general meeting on 7 May 2020, on an issue in kind of 152 500 ordinary shares in Hexatronic. The resolution has been adopted in accordance with the share purchase agreement which the Company has entered into for the acquisition of all shares in Baltronic Group OÜ (“Baltronic Group”) and Toronics Inc (“Toronics”), which was previously announced on 2 November 2020. The right to subscribe for the ordinary shares shall, pursuant to the share purchase agreement and the board resolution, only vest with the seller of Baltronic Group and Toronics and payment shall be made by the seller contributing in kind all of the shares in Baltronic Group.
The subscription price, which amounts to SEK 57.20 per share, corresponds to the closing price for Hexatronic’s ordinary share on Nasdaq Stockholm as of 30 October 2020.
Through the new share issue, Hexatronic’s share capital increases by SEK 7,625 to SEK 1,901,071.20. The number of shares will after the new issue amount to 38,021,430, of which 37,661,430 are ordinary shares and 360,000 are shares of series C. The number of votes will, after the new issue, amount to 37,697,430.
Gothenburg, November 4, 2020
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
The information was submitted for publication, through the agency of the contact person set out above, at 10.00 CET on 4 November 2020.
