Veg of Lund conducts a directed new issue of shares following a request for conversion from lenders in the bridge facility
The Board of Directors of Veg of Lund AB (publ) (“Veg of Lund” or the “Company”) has today decided on a directed new issue of 36,822 shares, with the support of authorization from the Annual General Meeting on 12 May 2021, to a lender following a request on conversion in accordance with the conversion right set out in the bridge loan facility and which is described in more detail in a press release on 17 February 2021.
On 17 February 2021, Veg of Lund entered into an agreement on bridge facility with a number of lenders, which has been described in more detail in the Company’s press release from the same day. In accordance with the agreement, a lender, Jan-Erik Olsson, has requested that Veg of Lund repay the outstanding loan amount plus accrued interest, totalling SEK 756,000, in shares. Against this background, Veg of Lund has decided on a directed issue of new shares to the lender. The subscription price per share is based on the volume-weighted average price for the Company’s share during 30 trading days immediately before the lender’s request and the terms of the loan agreement entered into and amounts to SEK 20.53.
The decision means that the number of shares increases by 36,822 and the share capital increases by SEK 2,356,6088. The issue entails a dilution of 0.33 percent. After the new share issue, the number of shares in Veg of Lund will amount to SEK 11,261,256 and the share capital will amount to SEK 720,702,384.
“Veg of Lund is positive that another bridge loan financier has chosen to convert its claim because it shows confidence in the company’s operations and future,” comments Cecilia Lindwall, CEO of Veg of Lund.
For more information, please contact:
Veg of Lund AB
Cecilia Lindwall (CEO)
Telephone: +46 765 014 809
About Veg of Lund
Veg of Lund develops unique plant-based foods meeting consumers’ demands for taste and sustainability. The company has roots in research at Lund University and owns patented methods for developing new food categories in the fast-growing market for plant-based foods. Veg of Lund’s climate-smart and tasty products are sold in Europe and Asia under the DUG® and MyFoodie® brands. The company’s shares were listed on the Nasdaq First North Growth Market under ticker VOLAB. Read more at ir.vegoflund.se. Eminova Fondkommission AB is the company’s Certified Adviser and can be contacted via telephone: +46 8 684 211 10 or e-mail: email@example.com.