Cimco Marine AB (publ) issues warrants to the European Investment Bank
The board of directors of Cimco Marine AB (publ) (the “Company”) has resolved, as authorized by the extraordinary general meeting on 30 July 2019, on a directed issue of in total 13,365,367 warrants to the European Investment Bank (“EIB”). EIB has subscribed for all issued warrants.
In the issue, 13,365,367 warrants 2019/2039 Series 1 have been issued with deviation from the shareholders’ preferential rights. The reason for the deviation from the shareholders’ preferential rights is to fulfill the conditions for drawdown of Tranche A under the credit facility agreement entered into between the Company and the EIB on 5 July 2019. The warrants are issued without consideration and each warrant entitles to subscription of one new share in the Company at a subscription price equivalent to the quotient value per share at that time. The subscription price has been determined after negotiation between the parties on the above-mentioned credit facility agreement, as part of the reimbursement for the drawdown of Trance A. The number of issued warrants corresponds to 7.5 percent of the fully diluted share capital of the Company on 30 August 2019, excluding the previously resolved incentive programs for employees.
Subscription of shares upon exercise of the warrants may be made during the period commencing on the date on which the issue resolution is registered with the Swedish Companies Registration Office (Sw. Bolagsverket) up to and including 31 December 2039.
If all warrants are used for subscription of new shares, the Company’s share capital will increase with SEK 400,756 and the number of shares with 13,365,367.
FNCA Sweden AB is Certified Adviser for Cimco Marine AB (publ). Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail email@example.com.
Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high-power segment. Cimco’s unique patented engine-to-propulsion power transmission solutions have led to high demand for the company’s engines worldwide.