Preliminary result of Midsona’s rights issue

NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SWITZERLAND, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES BESIDES THOSE REQUIRED BY SWEDISH LAW. ADDITIONAL RESTRICTIONS APPLY. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

The preliminary result of the rights issue in Midsona AB (publ) (“Midsona” or “the Company”), for which the subscription period ended on 20 November 2019, shows that the rights issue is oversubscribed. As a result of the rights issue, Midsona will receive proceeds amounting to approximately SEK 613 million before costs related to the rights issue.

The preliminary result shows that 211,556 series A shares, corresponding to approximately 98.0 per cent of the offered series A shares, as well as 18,299,940 series B shares, corresponding to approximately 99.7 per cent of the offered series B shares have been subscribed for by the exercise of subscription rights. Thus, approximately 99.7 per cent of the rights issue has been subscribed for by the exercise of subscription rights.

Additionally, applications for subscription without subscription rights of 597,972 series A shares, corresponding to approximately 276.9 per cent of the offered series A shares and 10,626,865 series B shares, corresponding to approximately 57.9 per cent of the offered series B shares, have been received. Thus, the rights issue is oversubscribed.

As a result of the rights issue, Midsona will receive proceeds amounting to approximately SEK 613 million before deduction of costs related to the rights issue. Through the rights issue Midsona’s share capital will increase by SEK 92,863,720, from SEK 232,159,320 to SEK 325,023,040 by issue of 215,948 new series A shares and 18,356,796 new series B shares. After the rights issue, the number of shares in Midsona will amount to 755,820 series A shares and 64,248,788 series B shares.

Those who have subscribed for shares without subscription rights will be allotted shares according to the principles in the prospectus published by Midsona on 5 November 2019. As confirmation of allotment of shares subscribed for without subscription rights, a contract note will be sent on or about 26 November 2019. Subscribed and allotted shares must be paid for in cash in accordance with the instructions in the contract note. Nominee-registered shareholders will receive notice of allotment in accordance with the procedures of the nominee. Only those who have been allotted shares will be notified.

The final result is expected to be published on 25 November 2019. The final day for trading in paid subscribed shares (BTA) will be 2 December 2019. The new shares are expected to start trading on Nasdaq Stockholm from 6 December 2019.

ADVISeRS

In connection with the rights issue, Midsona has appointed Danske Bank as financial adviser and Fredersen Advokatbyrå as legal adviser.

FOR MORE INFORMATION, CONTACT:

Peter Åsberg, President and CEO

Telephone: +46 730 26 16 32

E-mail: peter.asberg@midsona.com

Lennart Svensson, CFO

Telephone: +46 767 74 33 04

E-mail: lennart.svensson@midsona.com


The information was submitted for publication on 22 November 2019 at 18.00 CET.

IMPORTANT Notice

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Midsona. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden. Any invitation to the persons concerned to subscribe for shares in Midsona has only been made through the prospectus that Midsona published on 5 November 2019. The prospectus is only available and published in a Swedish version.

The information in this press release may not be released, published or distributed, directly or indirectly, in or into the United States (including its territories and provinces, every state in the United States and the District of Columbia, (“United States”)), Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or any other jurisdiction in which such action would be unlawful, is subject to legal restrictions or would require other measures than those required by Swedish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws.

No subscription rights, paid-up subscription shares (Sw: betalda tecknade aktier), or new shares issued in Midsona have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933 or the securities legislation of any state or other jurisdiction in the United States and no shares or other securities may be offered, subscribed for, exercised, pledged, sold, resold, allocated, delivered or otherwise transferred, directly or indirectly, in or into the United States, except pursuant to an applicable exemption accepted by Midsona. No public offering will be made in the United States.

This press release may contain forward-looking statements which reflect Midsonas’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

About Midsona

Midsona develops and markets strong brands in health and well-being, with products that help people to a healthier and more sustainable life.  Midsona has annual sales of about MSEK 2,852 (2018). The Midsona share (MSON) is listed on NASDAQ OMX Stockholm, Mid Cap. For further information: www.midsona.com.

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About Us

Midsona develops and markets strong brands in health and well-being, with products that help people to a healthier and more sustainable life. Midsona has annual sales of about MSEK 2,852 (2018). The Midsona share (MSON) is listed on NASDAQ Stockholm, Mid Cap. For further information: www.midsona.com.