Exercise of warrants in the Byggmax Group AB (publ)
Under the framework of the incentive program established in May 2013 (TO2 2013/2017), for which the subscription period for shares (May 30, 2017 until November 30, 2017) has now opened, employees of the Byggmax Group have subscribed for shares in the Byggmax Group AB (publ) (the “Company”).
In May 2013, the Company adopted an incentive program comprising an assignment of warrants to key individuals in the Byggmax Group. Furthermore, the warrants were issued free of any consideration to the wholly owned subsidiary Byggmax AB to later, in turn, be assigned to the participants in the incentive program.
The incentive program entailed that employees of Byggmax Group were offered the opportunity to purchase warrants that entitled the holders to subscribe for new shares in the Company in the period from May 30, 2017 until November 30, 2017 at a subscription price of SEK 42.80 per share.
When the subscription period opened on May 30, 2017, the employees held a total of 262,000 warrants. Today, employees of Byggmax AB have subscribed for a total of 170,000 new shares under the framework of the incentive program. Following subscription for the above shares, a total of 92,000 warrants remain outstanding that are held by participants in the 2013 incentive program, and which can be exercised to subscribe for new shares until November 30, 2017.
The subscription for 170,000 new shares has raised funds of SEK 7,276 000 for the Company and the share capital has increased by SEK 56, 666,67.
This information comprises such information as Byggmax Group AB (publ) is obliged to disclose under the EU’s Market Abuse Regulation. This information was submitted through the agency of the following contact person for publication on June 2, 2017 at 17.00 p.m.
For further information, please contact:
Pernilla Walfridsson, CFO
Mobile: +46 76119 00 40
About Byggmax Group
Byggmax Group consists of Byggmax, Skånska Byggvaror, and Buildor. For 2016, the Group’s net sales was SEK 5.2 billion. Byggmax Group is listed on Nasdaq since 2010.
Byggmax was founded in 1993 and currently operates 82 stores in Sweden, 33 in Norway and 13 in Finland and e-commerce in all three countries. Byggmax online offer consists of both the complete store assortment as well as an extensive range of online-exclusive products. Since the very beginning, Byggmax business concept has been discount DIY retailing, being the best price DIY retailer for consumers in need of high-quality construction materials. Byggmax stores are located close to the customers homes and are equipped with a drive-in system enabling easy shopping , including the loading of products directly onto the customers vehicles. During the past two years, Byggmax Group has acquired Skånska Byggvaror Group and Buildor AB. Skånska Byggvaror is a distance and e-commerce retailer of building projects and materials, with strong offers in e.g., conservatories and green houses. Skånska Byggvaror operates in Sweden, Norway, and Denmark, online and with 13 showroom stores. Buildor is a fast growing e-commerce retailer of home improvement products.