BE Group’s rights issue of MSEK 260 oversubscribed
The new share issue in BE Group with preferential rights for the company’s shareholders, for which the subscription period ended on 4 June 2015, has been oversubscribed. 97 percent of the shares offered have been subscribed for with subscription rights and 3 percent of the shares offered have been allocated to persons who have notified a wish to subscribe for additional shares in addition to what they subscribed for with subscription rights. In total, such notifications have been received corresponding to an amount of approximately MSEK 110, or 42 percent of the shares offered. Hence, the rights issue guarantee undertakings have not been made use of.
Allocation of shares that were subscribed for without subscription rights has been made in accordance with the principles outlined in the prospectus that has been prepared in connection with the rights issue and that was published on 15 May 2015. Notification regarding such allocation will within short be sent to those who have been allocated shares.
Through the rights issue, BE Group receives MSEK 259.7 before deduction of transaction costs. The share capital will increase by SEK 185,474,367 to SEK 260,202,495 and the number of shares will increase by 185,474,367 shares to 260,202,495 shares. Trading in the new shares on Nasdaq Stockholm is expected to commence during week 27, 2015.
Financial and legal advisors
Erik Penser Bankaktiebolag is acting as financial advisor and Mannheimer Swartling Advokatbyrå AB is acting as legal advisor to BE Group in connection with the rights issue.
For further information, please contact:
Lars Engström, Acting President and CEO
tel.: +46 (0)734-11 79 01 e-mail: lars.engstrom@begroup.com
Andreas Karlsson, CFO
tel.: +46 (0)709-48 22 33 e-mail: andreas.karlsson@begroup.com
BE Group, listed on the Nasdaq Stockholm exchange, is a trading and service company in steel and other metals. BE Group provides various forms of service for steel, stainless steel and aluminium applications to customers primarily in the construction and engineering sectors. In 2014, the Group reported sales of SEK 4.2 Bn. BE Group has approximately 750 employees, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com
Important information
This press release may not be released, published or distributed, directly or indirectly in or into the United States, Australia, Hong Kong, Canada or Singapore or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.
No subscription rights, BTAs (interim shares) or new shares have or will be registered under the United States Securities Act of 1933 (“Securities Act”) or securities legislation in any state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.
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