The Board of Directors of Sivers Semiconductors AB has resolved on a new issue of Series C shares and the repurchase and conversion of Series C shares
At the Annual General Meeting of Sivers Semiconductors AB held on 20 May 2021, it was resolved to authorize the Board of Directors, on one or several occasions during the period until the next Annual General Meeting, to resolve on a new issue of a maximum of 11,315,521 Series C shares. The Annual General Meeting also resolved to authorise the Board of Directors, on one or several occasions during the period until the next Annual General Meeting, to resolve on the repurchase of Series C shares.
The purpose of the share issue and the repurchase of Series C shares is to ensure delivery of shares to participants under the Company's outstanding incentive program and to secure liquidity for payment of social contributions charges attributable to such incentive programs.
With the exercise of the authorization described above, the Board of Directors has resolved on a new issue of 3,300,000 Series C shares. Nordea Bank plc, filial i Sverige, has subscribed for all shares. The subscription price amounts to SEK 0.50 per share, which corresponds to the quota value of the shares. The Board has also decided to repurchase all 3,300,000 Series C shares for a price of SEK 0.52 per share and to convert 2,200,000 Series C shares into ordinary shares.
For further information please contact:
Anders Storm, Group CEO
Tel: +46 (0)70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
Sivers Semiconductors AB is a leading and internationally recognized technology company that, through its two business areas Wireless and Photonics, supplies chips and integrated modules. Wireless develops RF chips and antennas for advanced 5G systems for data and telecommunications networks. Photonics develops and manufactures semiconductor-based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq Stockholm under SIVE. The head office is located in Kista, Sweden.
For more information contact: www.sivers-semiconductors.com