The board of directors of Cimco Marine AB (publ) resolves on a directed share issue of MSEK 17.2
The board of directors of Cimco Marine AB (publ) (the “Cimco”) has resolved, as authorized by the annual general meeting on 14 May 2019, on a directed issue of 11,451,369 shares in Cimco to the guarantee consortium that entered into guarantee commitments in connection with the exercise period for the warrants of series 2019:1. Cimco will receive approximately SEK 17,2 million from the directed share issue.
The new shares are issued at a subscription price of SEK 1.50 per share. The subscription price for the new shares is set out in the guarantee commitments and equals the subscription price according to the warrants of series 2019:1.
The reason for the resolution to issue shares with deviation from the shareholder’s pre-emption rights is to enable the guarantors to fulfil their guarantee commitments to subscribe for new shares in Cimco corresponding to the number of shares not subscribed for by the holders of warrants of series 2019:1 during the exercise period that expired in October 2019. The guarantee commitments were collected to, in a time and cost-efficient way, secure Cimco’s need of additional funding and enable drawdown of Tranche B under the credit facility agreement with the European Investment Bank.
When the new shares have been registered with the Swedish Companies Registration Office, the total number of shares in Cimco will be 164,839,521 and the share capital will amount to SEK 4,942,650.17.
Redeye AB is financial advisor and Advokatfirman Lindahl KB is legal advisor to Cimco in connection with the directed issue. Hagberg & Aneborn Fondkommission AB acts as issuing agent.
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.