NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, HONG KONG, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES BESIDES THOSE REQUIRED BY SWEDISH AND SWISS LAW. ADDITIONAL RESTRICTIONS APPLY, PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE
Press release, 2 January 2019
Preliminary results of Cavotec SA’s (“Cavotec” or the “Company”) rights issue, for which the subscription period ended 21 December 2018, indicate that 80.5 per cent of the offered shares were subscribed for with subscription rights and an additional 7.9 per cent were subscribed for without subscription rights. In total, 88.4 per cent of the rights issue was subscribed for, with and without subscription rights. The remaining 11.6 per cent will be subscribed for by Bure Equity AB, who has underwritten the rights issue.
Through the rights issue Cavotec will raise proceeds amounting to approximately MSEK 204 before transaction costs.
The final results of the rights issue will be published on or around 4 January 2019, and subscribers who have been allocated shares subscribed for without subscription rights will be notified shortly thereafter.Those who have subscribed for new shares without subscription rights will be allocated shares as described in the prospectus published on 6 December 2018.
The final day for trading in the paid subscribed shares (“BTA”, Sw. betald tecknad aktie) is expected to be on or around 9 January 2019. Trading of the new shares subscribed for with subscription rights on Nasdaq Stockholm is expected to commence on or around 11 January 2019.
Financial and legal advisors
ABG Sundal Collier is acting as Sole Global Coordinator and Bookrunner in connection with the rights issue. Vinge is acting as legal advisor in relation to Swedish law and Bär & Karrer SA is acting as legal advisors in relation to Swiss law to Cavotec.
For more information, please contact:
Johan Hähnel, Investor Relations Manager
Telephone: +46 70 605 63 34
E-mail: johan.hahnel@cavotec.com
This information was submitted for publication through the agency of the contact person set out above on 2 January 2019 at 22:00 CET.
About Cavotec
Cavotec is a leading engineering group that designs and manufactures automated connection and electrification systems for ports, airports and industrial applications worldwide. Cavotec innovative technologies ensure safe, efficient and sustainable operations. To find out more about Cavotec, visit our website at cavotec.com.
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Cavotec. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden and Switzerland. Any invitation to the persons concerned to subscribe for shares in Cavotec will only been made through the prospectus that Cavotec published on 6 December 2018.
The information in this press release may not be released, published or distributed, directly or indirectly, in or into the United States (including its territories and provinces, every state in the United States and the District of Columbia), Canada, Australia, Japan, Hong Kong, New Zealand, Singapore, South Africa or any other jurisdiction in which such action is subject to legal restrictions or would require other measures than those required by Swedish and Swiss law. Actions in violation of these restrictions may constitute a violation of applicable securities laws.
No shares or other securities in Cavotec have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities legislation of any state or other jurisdiction in the United States and no shares or other securities may be offered, sold or otherwise transferred, directly or indirectly, in or into the United States, except under an available exemption from, or in a transaction not subject to, the registration requirements under the U.S. Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States.
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