CEO Jörgen Olsson sells 2.4 million shares but remains as a large long term owner in Hoist Finance
Hoist Finance AB (publ) (the “Company” or “Hoist Finance”) has been informed that Jörgen Olsson on May 26 2016 after markets closed sold 2.4 million shares in Hoist Finance to three larger Swedish long-only institutional investors.
Jörgen Olsson has a significant shareholding in Hoist Finance. He added to his holding both in 2014 and in conjunction with the IPO in March 2015 and financed parts of these investments with loans.
Following the sale of shares, Mr Olsson now holds 2,396,293 shares through his company Deciso AB corresponding approximately to 3% of the total number of shares in the Company and 296,192 warrants entitling to subscribe for 888,576 shares. Following the transaction, Mr Olsson remains among the ten largest shareholders in Hoist Finance.
- By divesting a part of my holding, I will now be able to reduce part of the debts incurred when I invested in the Company and thereby establish a holding which is viable for the long term. The holding represents a very significant part of my net worth and proves my belief in Hoist Finance. Hoist Finance business model has demonstrated its ability to produce both strong revenue and earnings growth over time and I am convinced it will continue to do so, going forward. I look forward to my continued involvement in the Company for many years, also as a major shareholder, comments Jörgen Olsson.
For further information please contact:
Jörgen Olsson, CEO
Telephone: +46 (0)8 555 177 98
Michel Jonson, Group Head of Investor Relations
Telephone: +46 (0)8 555 177 19
The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lagen om värdepappersmarknaden) and/or the Swedish Financial Instruments Trading Act (Sw. lagen om handel med finansiella instrument). This information was released for publication at 08.00 (CET) on 27 May 2016.
About Hoist Finance
Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. Hoist Finance operates through eleven in-house collection centers across Europe, complemented by local external debt servicing partners. The total carrying value of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31 December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated “Credit Market Company” under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers internet-based savings deposit services through HoistSpar, with around 85,000 accounts.