Smoltek announces that senior executives and employees subscribe for 4.26 MSEK in shares in subsidiary
Smoltek announces that the company has received subscriptions for shares in the subsidiary Smoltek AB totalling approx. 4.26 MSEK. The subscriptions were made through the incentive program (2017/2020:1), with subscription period 2020-02-10–2020-03-31, in which five senior executives and long-time employees participated. Smoltek’s CEO Anders Johansson has subscribed for over 2.3 MSEK in shares.
In addition to his subscription through this program, CEO Anders Johansson owns 140,075 shares (corresponding to an ownership of approximately 2.2 percent) in the parent company Smoltek Nanotech Holding AB that is listed on Spotlight Stock Market.
“The substantial subscriptions made within this incentive program, which is finalized during a period with historical levels of uncertainty regarding the outlook for the global economy, is a further testament to the strong confidence in Smoltek’s technology that is shared by the company’s employees and senior executives,” says Peter Augustsson, Smoltek's Chairman of the Board.
The incentive program of warrants in the series 2017/2020:1 was implemented before Smoltek was listed on Spotlight Stock Market, and it therefore refers to the issue of shares in the operating subsidiary Smoltek AB. More details about the program is available in the memorandum that was published in connection with the share issue and listing on Spotlight Stock Market (2018) and in the prospectus for the share issue in 2019.
When registered at the Swedish Companies Registration Office (Bolagsverket), the subscribed shares will correspond to approximately 3.7 percent of the share capital in the subsidiary Smoltek AB. However, the intention is that the listed company Smoltek Nanotech Holding AB is to continue to hold 100 percent of the ownership in this subsidiary. At the upcoming Annual General Meeting, the Board therefore intends to present a proposal for a non-cash issue where the new shares in the subsidiary will be exchanged for shares in the listed company. This transaction will also enable a more transparent account of the senior management's total ownership in the company.
For further information:
Anders Johansson, CEO of Smoltek Nanotech Holding AB,
Telephone: 0708-39 36 93
Smoltek is developing process technology and concepts for applications based on carbon nanotechnology, primarily for the global semiconductor industry. Smoltek’s unique technology enables the production of semiconductor components with smaller form factors, higher performance and lower energy consumption.
The company protects its unique technology through an extensive and growing IP-portfolio, consisting of about 100 applied patents, of which 56 are currently granted.
Smoltek's applications are today mainly focused on the market segment for ”advanced packaging”, which is expected to grow at an average annual growth rate (CAGR) of 8.0 percent during the period 2018-2024 and achieve a market value of USD 43.6 billion in 2024 (source: Yole Développement Market research).
Smoltek's share is listed on the Spotlight Stock Market in Stockholm, Sweden under the short name SMOL.