Company Announcement, Insider information 17 April 2020 at 10.00 a.m. (CEST)
Savosolar’s Board of Directors amends its proposal to the Annual General Meeting to be held on 27 April 2020 regarding authorization
In relation to Savosolar Plc’s (“Savosolar” or the “Company”) plan to arrange a rights issue and issuance of warrants that was published earlier today, the Board of Directors of the Company amends its proposal made on 9 March 2020 to the Annual General Meeting regarding authorization to the Board of Directors to decide on issuance of shares, options and other special rights as follows:
16. Authorizing the Board of Directors to decide on issuance of shares, options and other special rights
The Board of Directors proposes that the Annual General Meeting resolves to authorize the Board of Directors to decide, in one or more transactions, on the issuance of shares and the issuance of options and other special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act as follows:
The number of shares to be issued based on the authorization may in total amount to a maximum of 10,000,000,000 shares, representing approximately 517.3 per cent of the company’s shares on the date of this announcement. In case the Board of Directors’ proposal on reducing the quantity of company’s shares is accepted the proposed size of the authorization decreases correspondingly to 100,000,000 shares.
The Board of Directors decides on all the terms and conditions of the issuances of shares and of options and other special rights entitling to shares. The issuance of shares and of options and other special rights entitling to shares may be carried out in deviation from the shareholders’ pre-emptive rights (directed issue), if there is a weighty financial reason for the company.
Shares may be conveyed either against payment or free of charge in the company’s share issues. A directed share issue may be a share issue without payment only if there is an especially weighty reason for the same both for the company and in regard to the interests of all shareholders in the company.
The authorization is valid until 27 April 2025 and it replaces the authorization granted by the Extraordinary General Meeting on 22 January 2019.
For more information:
Managing Director Jari Varjotie
Phone: +358 400 419 734
Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 17 April 2020 at 10.00 a.m. (CEST).
Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH. www.savosolar.com.
The company’s Certified Adviser is Augment Partners AB, firstname.lastname@example.org, phone: +46 8-505 65 172.