Decision on new share issue in VKG

As part of its ongoing corporate reconstruction, Värmekyl Grossisten Scandinavia AB (publ.) will carry out the previously announced preferential rights issue for the shareholders after reaching a formal decision at the Board meeting held yesterday, on Monday 17 March.

The preferential rights issue will amount to a maximum of 6,791,000 shares, of which every five old shares will grant the right to subscribe for two new shares at a subscription price of SEK 1.25 each. In addition to the preferential rights issue, the Board has also decided to carry out a directed issue of 9,209,000 shares to Gunnar Mannerheim’s company GTM Holding AS at a subscription price of SEK 1.25 each. Through this latter issue, the subscription warrants subscribed for by GTM Holding AS will be equated with shares.

All in all, the two share issues will provide the company with proceeds of SEK 20 million before issue expenses. As previously announced, both share issues have been guaranteed by GMT Holding AS conditional on fulfilment of certain terms of the corporate reconstruction. See also earlier press release.

Due to the ongoing corporate reconstruction, the dates for the preferential rights issue will be announced later. The company’s preliminary assessment is that the subscription period will take place in May.






For more information contact:

Tom Ekevall Larsen
CEO
+46 (0)76 13 52 125