Significant shareholders have sold shares in PowerCell

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE. 

The three largest shareholders in PowerCell Sweden AB (publ) (the "Company" or "PowerCell"), Midroc New Technology AB, Fouriertransform AB and Finindus NV (the “Selling Shareholders”) have sold in total 4,000,000 shares, corresponding to approximately 16.1 percent of their holding in the Company and approximately 7.7 percent of the number of shares and votes in the Company (the “Share Sale”). The shares were sold through an accelerated book-building process.

The price in the Share Sale was SEK 32.5 per share and the gross sales proceeds of the Share Sale amounted to SEK 130 million. Following the Share Sale, the Selling Shareholders hold in total 20,835,176 shares in the Company, corresponding to approximately 40.2 percent of all the shares and votes in the Company, as per below:

• Midroc New Technology AB: 7,695,220 shares, approximately 14.8 percent of the shares and votes
• Fouriertransform AB: 7,695,220 shares, approximately 14.8 percent of the shares and votes
• Finindus NV: 5,444,736 shares, approximately 10.5 percent of the shares and votes

The Shareholders have agreed not to sell any of their remaining shares in PowerCell during a 120-day period (the “Lock-up period”).

Pareto Securities AB acted as Sole Bookrunner in the Share Sale.

For additional information, please contact:

Oscar Ahlgren

Chairman of the Board, Midroc New Technology AB

+46 (0) 733-968450

oscar.ahlgren@vhcorp.se

Åsa Knutsson

CEO, Fouriertransform AB

+46 (0) 73 096 03 00

asa.knutsson@fouriertransform.se

Sven Vandeputte

Managing Director, Finindus NV

+32 9 345 13 32

sven.vandeputte@finocas.be

Important information  

This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, New Zealand, Hong Kong, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States. 

Pareto Securities is an independent full service investment bank with a leading position in the Nordic capital markets and a strong international presence within the energy sector. Pareto Securities AB offers Swedish and foreign institutions, companies and private individuals investment services related to trading in stocks, shares in SPV’s and fixed income instruments, wide coverage both within equity- and credit research. Furthermore, Pareto Securities corporate finance offers ECM, M&A and DCM services as well as arrangement and syndication of new investment projects, arrangement and syndication of sale and leaseback structures within real estate, infrastructure and shipping/offshore. Pareto Securities AB is part of the Pareto Securities group and is headquartered in Oslo, Norway, with more than 400 employees located in offices in Norway, Sweden, Denmark, Finland, United Kingdom, France, Germany, USA, Singapore and Australia.