The board of OmniCar Holding AB proposes a SEK 31,000,000 private placement of units

The board of OmniCar Holding AB (the “Company” or “OmniCar”), listed on AktieTorget, announces that it has decided to propose to an extraordinary general meeting on 21 December 2017 to resolve on a private placement of units of SEK 31,000,000 (the “Unit Issue”). Fifteen selected investors may subscribe for the units. The investors have undertaken to subscribe for the Units if the Unit Issue is approved by the shareholders.

As announced in the Q3 2017 report, OmniCar has been working on a more aggressive growth strategy to fast track its expansion. In the last few months the Company has been overwhelmed by the interest in and demand for its products and sees a huge potential in expanding into more countries much faster than originally planned.

OmniCar is therefore delighted to announce that a group of Swedish investors have undertaken to subscribe for a large equity stake in the Company. With this commitment, OmniCar will be able to start its European expansion as soon as the first quarter of 2018.

OmniCar will hence make the transition from a Scandinavian company to a truly international provider of innovative software solutions to the auto industry.

“Having been asked by dealers in Asia, the UK, Germany and Eastern Europe to get introduced to our service agreements, this was the logical next step for OmniCar to take”, says CEO Claus T. Hansen. “Naturally, working with a more international clientele with slightly different needs will require us to make certain investments and an immediate expansion of this size would not have been possible within the boundaries of our current capital structure. Therefore, we are glad our new investors have fully endorsed our plans which enable us to tackle this particular market opportunity without delay.”

CEO Claus T. Hansen is proud of the private placement: "We are excited about this great opportunity and honored by the trust showed in us. Being able to attract the attention of larger Swedish investors shows us that we are on the right way and that this is the time to take the next step on our journey.”

The Company's major shareholders have informed the board that they intend to vote in favor of the Unit Issue at the extraordinary general meeting.

Main terms of the Unit Issue

The terms of the board’s proposal to the unit issue are essentially as follows.

• The Company shall issue no more than 500,000 new units (”Units”).
• The Units may be subscribed by fifteen selected investors with deviation from the shareholders’ preferential rights.
• Each Unit consists of four shares and three warrants in the Company.
• The subscription price shall be SEK 62 per Unit, of which SEK 15.50 will be attributable to each share and the warrants are issued free of charge.
• Each warrant gives its holder the right to subscribe for one new share in the Company, at a subscription price of SEK 18.60, during the period from and including 1 December 2019 to and including 30 November 2020.
• The Company receives proceeds of SEK 31,000,000 if the Units issue is fully subscribed and an additional SEK 27,900,000 if all warrants are exercised.

The investors

The investors entitled to subscribe for Units are Lisa Mossinger, Anders Oscarsson, Mats Nylander, William Hatle, Alexander Ivarsson, Daniel Erlandsson, Erik Arvidsson, Jimmy Jönsson, Christian Jeppsson, Andreas Samuelsson, Simon Mattsson, Henric Stenholm, Oliver Molse, Oscar Molse and Modelio Equity AB.

The reason for the deviation from shareholders' preferential rights

The objective of the issue is to strengthen the Company's financial position. The Company finds that the Unit Issue is best suited for this purpose, due to the limited size of the issue, time factors and conditions for other funding.

The grounds for the subscription price

The subscription price for a Unit, which is SEK 15.50 per share in the Unit for a total subscription price of SEK 62 per unit, is based on the volume weighted average price on Monday 27 November 2017 with a discount of 15 percent.

Share and share capital

If the Unit Issue is fully subscribed and the warrants are fully exercised, the number of shares in the Company may increase by no more than 3,500,000, of which 2,000,000 consist of the shares in the Units and 1,500,000 of shares that may arise through full exercise of the warrants. Under similar conditions the Company's share capital may increase by no more than SEK 350,000, of which SEK 200,000 refers to the shares in the Units and SEK 150,000 refers to the shares that may arise through full exercise of the warrants. The Unit Issue will result in a share dilution of approximately 13.8 percent from the issued shares and may result in an additional share dilution of approximately 9.4 percent if all warrants are exercised for subscription of shares, in relation to the number of shares after the Unit Issue.

Important information

This press release does not constitute an offer for any securities in OmniCar Holding AB.

For more information about OmniCar AB, please contact 

Claus T. Hansen, CEO 

E-mail: cth@omnicar.dk 
Telephone: +44 7517 087709
http://www.omnicar.com/

This information is insider information that OmniCar AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on December 5, 2017

Om OmniCar Holding AB 
OmniCar Holding AB (559113-3987) OmniCar is a 100% ‘plug-and-play’ online solution. No more time-consuming management and manual invoicing. OmniCar allows you to manage your service agreements digitally with a layout that is fully customised to meet your business’s individual requirements and specifications. You save time and administrative resources thanks to the automated system management of all processes. The benefits gained by our customers so far: