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, 4 January 2019
The final result of Cavotec SA’s (“Cavotec” or the “Company”) rights issue shows that 12,637,400 shares, corresponding to 80.5 per cent of the shares in the offer, were subscribed for with subscription rights. The remaining 3,069,800 shares have been allotted to investors who have subscribed for shares without subscription rights, of which 1,827,131 shares were subscribed for by Bure Equity AB in its capacity as guarantor of the rights issue. In total, through the rights issue, Bure Equity AB increased its shareholding in Cavotec by 5,810,089 shares to 25,724,935 shares, representing an ownership in the Company of 27.3 per cent after the completion of the rights issue.
Through the rights issue, Cavotec raises gross proceeds of approximately MSEK 204 before transaction costs. Allotment of new shares subscribed for without subscription rights has been made according to the principles outlined in the prospectus published on 6 December 2018 and such subscribers will be notified separately. Shareholders with nominee registered holdings receive confirmation of the allotment in accordance with the procedure of the respective nominee. Notificaton regarding the allotment of shares will be sent only to those who have been allotted shares.
As a result of the rights issue, Cavotec’s share capital will increase by CHF 20,105,216 from the current CHF 100,526,080 to CHF 120,631,296, through the issuance of 15,707,200 new shares. After the rights issue, the number of shares in Cavotec will amount to 94,243,200 shares. The last day of trading in paid subscribed shares (“BTA”, Sw. betald tecknad aktie) on Nasdaq Stockholm is expected to be on or around January 9, 2019. Trading of the new shares subscribed for with subscription rights is expected to begin on Nasdaq Stockholm on or around January 11, 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 | Email: johan.hahnel@cavotec.com
This information was submitted for publication through the agency of the contact person set out above on 4 January 2019 at 19:30 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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