Election of new Board members in Qliro Group and resolution on distribution of the subsidiary Qliro – listing prospectus to be published during today
Qliro Group AB (publ) ("Qliro Group") today held an Extraordinary General Meeting. The Meeting elected Mathias Pedersen and Josephine Salenstedt as new Board members and resolved to distribute all shares in the subsidiary Qliro AB ("Qliro") to the holders of ordinary shares in Qliro Group.
New Board members
The Extraordinary General Meeting elected Mathias Pedersen and Josephine Salenstedt as new Board members to replace Andreas Bernström and Jessica Pedroni Thorell. Andreas Bernström and Jessica Pedroni Thorell resigned as Board members on 18 September 2020 following the completion of Kinnevik's divestment of 36,021,945 shares in Qliro Group to Rite Ventures, which is now the largest shareholder in Qliro Group.
Distribution of Qliro
The Extraordinary General Meeting resolved, in accordance with the proposal of the Board of Directors, to distribute all shares in the wholly-owned subsidiary Qliro to the holders of ordinary shares in Qliro Group. Ten (10) ordinary shares in Qliro Group entitle the holder to one (1) share in Qliro. If the current shareholding cannot be distributed evenly, fractions of shares will be distributed. Such fractions of shares in Qliro will be combined into entire shares which, after Qliro's shares have been admitted to trading on Nasdaq Stockholm, will be sold through Carnegie Investment Bank. No commission will be paid in connection with such sale and the payment will be paid to the shareholders via Euroclear Sweden. 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 Qliro.
At the Extraordinary General Meeting, the Board of Directors was further authorized to determine the record date for distribution. The Board of Directors has today resolved that the record date shall be 30 September 2020. The first day of trading in the Qliro share on Nasdaq Stockholm is expected to occur on 2 October 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 Qliro. There will thus be no offer or issue of new shares in connection with the distribution of Qliro to Qliro Group's holders of ordinary shares. The shares will be traded under the ticker QLIRO and ISIN code SE0013719077.
For further information on the distribution, please refer to the prospectus prepared in connection with the admission to trading of Qliro's shares on Nasdaq Stockholm. The prospectus is expected to be published today 28 September 2020 and will then be held available on Qliro's (www.qliro.com) and Qliro Group's (www.qlirogroup.com) websites, respectively.
|Timetable for distribution and listing|
|28 September 2020||Last day of trading in Qliro Group's ordinary share including the right to distribution of shares in Qliro|
|29 September 2020||Qliro Group's ordinary share is traded excluding the right to distribution of shares in Qliro|
|30 September 2020||Record date for receiving shares in Qliro|
|2 October 2020||Expected first day of trading in Qliro's share on Nasdaq Stockholm|
Carnegie Investment Bank is financial adviser and Advokatfirman Cederquist is legal adviser in connection with the distribution of shares and listing of Qliro on Nasdaq Stockholm.
For more information
Niclas Lilja, Investor Relations
+46 736 511 363
About Qliro Group
Qliro Group operates the leading Nordic marketplace CDON, the online fashion brand Nelly.com and Qliro AB that offers financial services to merchants and consumers. In 2019 the Group had sales of SEK 2.9 billion. Qliro Group’s shares are listed on the Nasdaq Stockholm Mid-Cap segment under the ticker symbol QLRO.