Outcome of exercise of warrants of series 2018/2019 in Enviro (TO2)
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.
Scandinavian Enviro Systems AB (publ) ("Enviro" or the "Company") carried out a rights issue of units in December 2018, each unit consisting of two shares and two warrants. The subscription price for warrants of series 2018/2019 (TO2) has, as previously communicated, been set at SEK 0.40. The subscription period for the warrants lasted during the period 2-13 September 2019 and has therefore ended.
In total, 121,411,128 warrants, corresponding to approximately 57.48 percent of all warrants issued in the issue outcome, were used to subscribe for 121,411,128 shares at a subscription price of SEK 0.40 per share. As a result of the warrants exercise, Enviro will be allocated approximately 48.6 MSEK before issue costs.
Exercised warrants have been replaced with interim shares (IS) pending registration with the Swedish Companies Registration Office. Conversion of interim shares to shares is expected to take place in about two (2) weeks.
Through the exercise of the warrants, the number of shares in the Company increased by 121,411,128 shares, from 343,249,764 to 464 660 892 shares. The share capital increases by SEK 4,856,445.12, from SEK 13,729,990.56, to SEK 18,586,435.68.
After the exercise of TO2, the Board and Management have increased their shareholding to 17,458,449 shares, which corresponds to approximately 3.8 percent of the Company.
For existing shareholders who do not exercise any warrants, the dilution amounts to 26.13 percent.
For more information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Board Chairman Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com
Mangold Fondkommission AB, +46 8 503 01 550, ca@mangold.se, is Enviro’s Certified Advisor at Nasdaq First North Growth Market.
Scandinavian Enviro Systems AB
Regnbågsgatan 8C
SE-417 55 Gothenburg, Sweden
info@envirosystems.se
www.envirosystems.se
Scandinavian Enviro Systems AB (publ) is required to publish this information under the EU market abuse regulation. The information is provided by the contact person listed above for publication on September 18, 2019 at 16.20 CEST.
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 First North Growth Market with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, ca@mangold.se, as its Certified Advisor. www.envirosystems.se