Broad support from shareholders for sale of shares
As previously announced by Zound Industries International AB, the company has initiated an exit process, which may lead to the sale of the shares of the Company or an initial public offering on Nasdaq Stockholm.
The exit process is supported by the principal shareholders Zenith Venture Capital, Varenne, Telia Company and Time for Growth Secondary Fund (the "Principal Owners"), which jointly hold a majority of the shares in Zound Industries.
The Principal Owners have now obtained support for the sale from shareholders which, together with Marshall Amplification, hold in excess of 90 percent of the shares in Zound Industries.
The opportunity to take part in the sale process remains open for shareholders that wish to participate and have not yet submitted documentation, and the board of directors and the Principal Owners encourage these shareholders to submit documentation as communicated previously.
For additional information about the sale, please see: www.zoundindustries.com/investor-relations/ or contact:
Head of Investor Relations
+46 708 25 26 30
Zound Industries designs and develops speakers and headphones under the brand names Marshall and Urbanears. With a strong focus on innovative technology and user-centered design, Zound has gone from strength to strength since first hitting the market in 2008, launching a wide range of iconic, award-winning products. Zound currently has around 250 employees, with offices in Stockholm, New York, Paris, Shenzhen and Hong Kong. In 2018 turnover reached about SEK 1.86 billion. In February 2018, Zound announced a new collaborative partnership with Adidas, with initial products due to hit the market in 2019.