Inside information: The Board of Directors of Wetteri Plc has approved subscriptions for the directed share issue for EUR 3.4 million and carries out the directed share issue
Wetteri Plc Inside information, 22 December 2023 at 15.30 EET
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Subscriptions accepted in the directed share issue
The Board of Directors of Wetteri Plc (“Wetteri” or “Company”) has previously on 21st of December 2023 announcedly decided on a directed share issue against payment to certain institutional investors and a limited number of experienced investors based on the authorization given by the Company's Annual General Meeting on the 8th of May 2023. The share issue raised a total of EUR 3.4 million.
The Board of Directors of Wetteri has approved the following subscriptions:
Name Amount of shares
PM Ruukki Oy 1,724,137
Keskinäinen Työeläkevakuutusyhtiö Elo 5,603,450
The Board of Directors of Wetteri has thus approved subscriptions for a total of 7,327,587 new shares, corresponding to approximately 5.2 % of Wetteri’s total number of shares before the directed share issue and approximately 5.0 % of the total number of shares after the directed share issue (if the 21st of December 2023 announced share issue to personnel would also be carried out in full).
The subscription price was EUR 0.464 per share. The subscription price was based on the closing price of the Company's share on 20th of December 2023 at the end of trading in the Helsinki Stock Exchange less approximately 10.1 percent discount.
After the approved subscriptions, the number of Wetteri’s shares will increase to 148,212,609 shares (excluding the shares in the aforementioned share issue to personnel).
The new shares are estimated to be registered with the Trade Register approximately on the 5th of January 2024, and they will confer shareholder rights when the new shares have been registered and recorded in the subscriber's book-entry account. The new shares are estimated to be admitted to trading approximately on the 12th of January 2024.
Aktia Alexander Corporate Finance Ltd acted as the Company’s financial adviser and Lexia Attorney’s Ltd as the Company’s legal advisor in the directed share issue.
Aarne Simula, CEO, Wetteri Plc
"With this share issue, we will continue to implement our growth strategy as planned. We are particularly happy to have Elo Mutual Pension Insurance company joining Wetteri’s growth. Wetteri's chairman of the board Markku Kankaala's subscription through his company PM Ruukki is a strong indication of trust in Wetteri's growth strategy, and to actions already taken and planned."
Additional information
Aarne Simula, CEO, Wetteri Plc
Tel. 0400 689 613, aarne.simula@wetteri.fi
Wetteri Plc - An Entrepreneur-Driven Automotive Growth Company
Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 40 locations in Finland. The company employs around 1000 people, of whom nearly 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: sijoittajat.wetteri.fi/en/