AMF’s investment in LEAX has been completed
As communicated in LEAX Group AB’s (“LEAX” or the “Company”) press release on 1 April 2022, AMF Tjänstepension AB (”AMF”) undertook, pursuant to an investment agreement entered into on 1 April 2022, to invest MSEK 300 in the Company (the “Investment”). In connection therewith, it was also announced that the Company intends to acquire four investment properties which are currently leased by LEAX (the “Property Transaction”) and that the Company in connection with the completion of the Investment intends to initiate an early redemption procedure regarding the Company’s bond loan 2018/2022 with a total outstanding amount of MSEK 300 (the “Bonds”).
LEAX can on this day, 7 April 2022, announce that the Investment has been completed, which has entailed that MSEK 300 has been received by the Company and that AMF has entered as a major shareholder in LEAX as well as that the Property Transaction has been completed.
In addition, the Company has on this day initiated an early redemption procedure regarding the Bonds and distributed an irrevocable and unconditional notice of early redemption of the Bonds to those who were registered as holders of the Bonds in the debt register maintained by Euroclear Sweden as of 6 April 2022 and which also is available on the Company’s website (the “Redemption Notice”). The Bonds will be redeemed on 5 May 2022 at a redemption premium of 103.625 per cent. of the outstanding amount, corresponding to 1,036,250 per bond, which will be paid to those registered as holders of the Bonds in the debt register maintained by Euroclear Sweden on the record date 28 April 2022. For further information regarding the early redemption procedure, please refer to the Redemption Notice.
Contact
Roger Berggren, Chairman of the Board
Phone: +46 (0)70 655 99 71
Mail: roger.berggren@leax.com
Tony Nicol, Group President and CEO
Telephone: +44 (0)755 728 67 67
E-mail: tony.nicol@leax.com
About LEAX
LEAX Group AB (publ) is the parent company of a group (“LEAX Group”) with about 1 200 employees. LEAX has operations in Köping, Falun and Falköping in Sweden, Riga and Rezekne in Latvia, Curitiba in Brazil, Detmold in Germany, Mezökövesd in Hungary and Wuxi in China. The Group is a manufacturer of mechanical components and subsystems for the heavy vehicle industry, passenger car industry, mining and construction industries and other engineering industries. LEAX Group also delivers customized gearboxes for various mechanical engineering industries. The Group had a turnover of SEK 1,7 billion in 2021.