Michelin once again owns 20 percent of the shares in Scandinavian Enviro Systems
Scandinavian Enviro Systems has been informed that Michelin once again owns a total of 20 percent of the shares in Enviro following the dilution of its holding in May as a result of the completed new issue. The increase in its holding resulted from Michelin, via its subsidiary, acquiring two million of the shares that were issued in May to Unwrap Finance AB. Enviro has no information about the purchase consideration or the acquisition price.
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.
Through a directed issue conducted in April last year, the French tyre manufacturer Michelin acquired, via its wholly-owned subsidiary Michelin Ventures SAS, 20 percent of the shares in Enviro. Following the acquisition, Michelin has become the largest owner of Enviro.
In mid-May, Enviro completed a directed issue to Unwrap Finance AB of a total of 10,000,000 new shares, raising proceeds of SEK 20,950,261 before issue costs. The subscription price per share was SEK 2.095 and the number of shares in the company following the issue amounted to 590,826,115 while the share capital increased SEK 400,000 to a total of SEK 23,633,045. The dilution from the share issue was approximately 2 percent and resulted in a slight dilution of Michelin’s shareholding.
Enviro has now been informed that Michelin, via its subsidiary Michelin Ventures SAS, once again owns 20 percent of the shares in Enviro after having acquired a total of two million of the recently issued shares from Unwrap Finance AB. Enviro has not received any information about the purchase consideration or the acquisition price.
For further information, please contact:
Thomas Sörensson, CEO of Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, Enviro CFO, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman of the Board of Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com
Mangold Fondkommission AB, +46 (0)8 503 01 550, ca@mangold.se, is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.
Scandinavian Enviro Systems AB
Herkulesgatan 1K
SE-417 01 Gothenburg
info@envirosystems.se
www.envirosystems.se
Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the Nasdaq First North Growth Market with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, ca@mangold.se, as its Certified Advisor. www.envirosystems.se
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