Record date for consolidation of shares (reverse split) in Bergs Timber AB (publ) set for 31 May 2022
PRESS RELEASE
20 May 2022
At Bergs Timber's Annual General Meeting, May 5, 2022, it was decided to consolidate the company's existing 346,728,283 shares (reverse split), whereby ten (10) shares are consolidated into one (1) share. The Board was authorised to decide on the record date for the consolidation.
The Board of Directors has decided to set the record date for the consolidation to 31 May 2022, which means that the last day for trading in the share before the consolidation is 27 May 2022. The first day for trading in consolidated shares is 30 May 2022.
The consolidation takes place automatically via Euroclear and shareholders do not need to take any action. In connection with the consolidation, the share will take over the existing trading on Nasdaq Stockholm.
In connection with the consolidation, the company's share has received a new ISIN code, SE0018012932.
Upon completion of the consolidation, the total number of shares in the company will amount to 34,672,828. For those shareholders whose holdings of shares on the record date are not evenly divisible by ten (10), excess shares will be transferred to the company's ownership on the record date of the consolidation. Excess shares will then be sold by the company, or a securities institution appointed by the company, whereby eligible shareholders will receive their share of the sale proceeds. This is expected to take place through cash payment around 9 June 2022 and through Euroclear Sweden AB.
For further information regarding this press release, contact:
Peter Nilsson, President and CEO, +46 (0)70 315 09 27 or Anders Marklund, CFO, +46 (0)70 284 47 96.
This information is such information Bergs Timber AB (publ) is required to make public pursuant to the Swedish Securities Market Act. The information was submitted, through the care of the above contact persons, for publication on 20 May 2022 at 08:00 CEST.
About Bergs
An international wood products Group
The Bergs Group consists of independent subsidiaries, with clear responsibilities for results, that develop, produce and market processed wood for various applications.
With years of experience in wood and a great deal of competence in processing, Bergs promotes building a sustainable society based on renewable raw materials from sustainably cultivated forests in the Baltic Sea region.
Operations are conducted in Sweden, Estonia, Latvia and the UK, and the Group’s products are sold in some 20 countries. The largest markets consist of Scandinavia, the Baltic countries, the UK and France. The head office and Group management are located in Sweden.
The company’s share has been listed on Nasdaq Stockholm since 1984.