Bulletin from Qliro Group's Extraordinary General Meeting 26 October 2020 - resolution on distribution of the subsidiary CDON
Qliro Group AB (publ) (“Qliro Group”) today held an Extraordinary General Meeting (“EGM”). The EGM resolved to distribute all shares in the subsidiary CDON AB (“CDON”) to the holders of ordinary shares in Qliro Group.
The EGM resolved, in accordance with the proposal of the Board of Directors, to distribute all shares in the wholly-owned subsidiary CDON to the holders of ordinary shares in Qliro Group. Thirty (30) ordinary shares in Qliro Group entitle the holder to one (1) share in CDON. If the current shareholding in Qliro Group is not evenly divisible by thirty (30) it will be rounded down to the nearest number of whole shares. Fractions of shares will not be distributed but such fractions of shares in CDON will be combined into entire shares which, after CDON's shares have been admitted to trading on Nasdaq First North Growth Market, will be sold through the care of a securities institution. No commission will be paid in connection with such a sale and the payment, i.e. the compensation for the fractions, will be paid to the shareholders via Euroclear Sweden AB. Class C shares in Qliro Group or any ordinary shares held by Qliro Group on the record date do not entitle to any shares in CDON.
At the EGM the Board of Directors was further authorized to determine the record date for distribution. The shares of CDON are expected to be admitted to trading on Nasdaq First North Growth Market in November 2020.
In addition to being registered as holder of ordinary shares in Qliro Group on the record date for the distribution, shareholders do not need to take any measures to receive shares in CDON. There will thus be no offer or issue of new shares in connection with the distribution of CDON to Qliro Group’s holders of ordinary shares.
For further information, please visit www.qlirogroup.com or contact:
Niclas Lilja, Investor Relations
+46 736-511 363
ir@qlirogroup.com
About Qliro Group
Qliro Group operates the online fashion brand Nelly.com and the leading Nordic marketplace CDON. At the end of September 2020, Qliro AB was distributed to Qliro Group's shareholders. Qliro Group will change its name to Nelly Group to reflect its focus on Nelly. Qliro Group’s shares are listed on the Nasdaq Stockholm Mid-Cap segment under the ticker symbol QLRO.
Tags: