Cement Fund exercising warrants to subscribe for an additional 31.5 million ordinary shares bringing SEK 63 million cash to Crown Energy
One of Crown Energy AB’s (“Crown Energy” or the “Company”) major shareholders, Cement Fund SCSp, (“Cement Fund”), has elected to exercise all of its 31.5 million warrants in the Company and subscribes for an additional 31.5 million ordinary shares in the Company. The strike price per ordinary share is SEK 2 in accordance with the resolution made by the annual general meeting 2016 held on 4 May 2016. Through the exercise of warrants the Company will now receive an additional cash injection of SEK 63 million. No additional warrants are outstanding in the Company after the exercise.
Following the exercise of warrants the total number of ordinary shares in the Company will increase from 445,815,350 to 477,315,350. Each ordinary share carries ten votes and the total number of votes after the exercise will be 4,773,153,500. The share capital after the exercise, will amount to app. SEK 14,032,864.56.
“We are extremely pleased to announce that our shareholder Cement Fund continues to show confidence in and support Crown Energy and our business model and strategy by exercising the rights to subscribe for further shares in the Company. The additional cash injection into the Company will further strengthen our balance sheet and boost Crown Energy’s ability to focus on and grow both the Property Development and Services as well as the Energy divisions of the Company”, says Andreas Forssell, CEO Crown Energy.
This information is information that Crown Energy AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.30 AM CET on 6 December 2017.
Please contact Andreas Forssell, CEO, Crown Energy AB
+46 8 400 207 20
+46 760 15 15 95
Crown Energy is an international company engaged in oil and gas exploration and production and property development and management services. The portfolio consists of assets in Africa and the Middle East. For more information please visit www.crownenergy.se