Odd Molly International AB (publ)
Stockholm 14 June 2019
This is a translation of the original Swedish language press release. In the event of discrepancies, the original Swedish wording shall prevail.
This press release shall not, directly or indirectly, be released, published or distributed in or the United States (including District of Columbia) (the “US”), Australia, Japan, New Zealand, Singapore, South Africa, Switzerland, Hong Kong and Canada or any other jurisdiction where such action is unauthorized, requires registration or other measures in addition to those that follow from Swedish law or are subject to legal restrictions.
Odd Molly International AB (”Odd Molly” or the ”Company”) has completed the rights issue which was announced on 5 April 2019 and resolved by the Annual General Meeting on 7 May 2019 (the “Rights Issue”). Approximately 85.2 percent of the Rights Issue have been subscribed for by exercise of subscription rights. Additionally, applications for subscription without subscription rights of approximately 15.2 percent of the offered shares have been received. Thus a total of 100.4 percent of the shares offered have been subscribed for. As a result of the oversubscription of the Rights Issue no underwriting commitments will be utilized. As a result of the Rights Issue, the Company will receive approximately SEK 25 million before costs related to the Rights Issue.
“We are happy for the support and trust in Odd Molly from both existing and new shareholders with the oversubscribed rights issue. The approximately SEK 25 million that the company receives provides improved conditions to drive the ongoing comprehensive actions to strengthen the brand, further develop digital sales and to reduce complexity as well as operating costs”, Johanna Palm, CFO and deputy CEO at Odd Molly, comments.
In total 5,064,938 shares were subscribed for with subscription rights and in addition 881,284 shares have been allocated without subscription rights. Those who have subscribed for shares without subscription rights will be allocated shares according to the allocation principles outlined in the prospectus. Nominee registered shareholders will receive notice of allocation in accordance with the procedures of the nominee. Only those who have been allocated shares will be notified.
Through the Rights Issue, Odd Molly’s share capital will increase by SEK 594,622.20 by the issue of 5,946,222 shares. After the registration of the Rights Issue, the share capital in the Company will amount to SEK 1,486,556.50 and the number of shares to 14,865,555.
Registration at The Swedish Companies Registration Office (Bolagsverket) of the shares which were subscribed for with subscription rights is estimated around week 25, 2019. Registration at The Swedish Companies Registration Office (Bolagsverket) of the shares which were subscribed for without subscription rights is estimated around week 26, 2019.
Last day for trading in paid subscribed shares (BTAs) on Nasdaq Stockholm is expected to take place around week 25, 2019 for BTA 1 and around week 26, 2019 for BTA 2. New shares which have been subscribed for, with respectively without subscription rights, are estimated to be traded at Nasdaq Stockholm around week 26 respectively week 27, 2019.
Advisors
Mangold Fondkommission AB is acting as financial advisor and Walthon Advokater AB is the legal advisor to Odd Molly in relation to the Rights Issue.
For more information, please contact:
Patrik Tillman, Chairman of the Board
+46 733 50 61 20
Johanna Palm, CFO and Deputy CEO
+46 760 10 24 55
This constitutes information that Odd Molly International AB is legally obliged to publish under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 13:00 CEST on 14 June 2019.
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 Odd Molly. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden. Any invitation to the persons concerned to subscribe for shares in Odd Molly will only be made through the prospectus that is available on Odd Molly’s website www.oddmolly.com.
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, (“United States”), Canada, Australia, Japan, Hong Kong, Switzerland, New Zealand, Singapore, South Africa or any other jurisdiction in which such action would be unlawful, is subject to legal restrictions or would require other measures than those required by Swedish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws.
No shares or other securities in Odd Molly 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.