Statement from the founders of Evolution Gaming Group AB (publ)
(Clarification: in the original release, the wording regarding the total number of shares sold could be misinterpreted. Jens von Bahr and Fredrik Österberg have sold 1,798,520 shares in total.)
Jens von Bahr and Fredrik Österberg, through JOvB Investment AB and Fros Ventures AB, have sold 1,798,520 shares in Evolution Gaming Group through an accelerated bookbuilding process to Swedish and international institutional investors at a price of SEK 557 per share, corresponding to approximately 5% of all outstanding shares in Evolution Gaming.
Dear friends, colleagues and shareholders,
As co-founders of Evolution Gaming, we have both undergone a very emotional process before deciding to sell down just below 25% of our holdings. It is inevitable that investors will react negative to founders selling down and we both understand and appreciate that.
There is never a good timing to sell down. Never. So either you can simply never sell or you have to choose the least bad timing. We have chosen the latter. The company is performing well and every analyst covering our stock has a positive recommendation.
This is likely, and hopefully, going to be a bad deal as we both hope and believe that the share price will continue to have a positive development long term.
As aforementioned we do both still have the vast majority of our wealth in Evolution Gaming and in addition we are moving our shares to a new jointly owned vehicle that will control our shareholding in Evolution Gaming. We remain firm in our belief in, and commitment to, Evolution Gaming and intend to continue to be active shareholders for the long run.
Jens von Bahr and Fredrik Österberg