Company Announcement, Insider information 13 May 2020 at 4.30 p.m. (CEST)
Share issue / transfer and annulment of shares in connection with the reduction of the quantity of shares in Savosolar Plc (final phase)
The Annual General Meeting of Savosolar Plc (the “Company” or “Savosolar”) resolved on 27 April 2020 to reduce the quantity of Savosolar’s shares without reducing share capital by way of issuing new shares to its shareholders without consideration, and by redemption of Company’s own shares without consideration, in such a way that each current 100 shares of the Company shall correspond to one share of the Company after the arrangements related to the reduction of the quantity of Company’s shares are completed.
As a part of the arrangements, the Annual General Meeting resolved on 27 April 2020 that the Company shall issue 15,000 shares to the Company itself without consideration. Such new shares issued to the Company itself are to be re-issued i.e. transferred from the Company without consideration to such shareholders holding on the record day (as defined below) a) shares registered in Euroclear Sweden AB’s securities system whether registered in the name of or a nominee or directly of the shareholder or b) nominee registered shares registered in Euroclear Finland Ltd’s book-entry system, the amount of which (a or b) is not divisible by 100, to the extent required by their shareholding in the Company being divisible by the number 100. Furthermore, it was resolved that the remaining part of such treasury shares shall be annulled.
The record day for the reduction of the quantity of company’s shares was a) in respect of shares registered in Euroclear Sweden AB’s securities system (whether registered in the name of or a nominee or directly of the shareholder) 4 May 2020 and b) in respect of nominee registered shares registered in Euroclear Finland Ltd’s book-entry system 29 April 2020.
Pursuant to the resolution of the Annual General Meeting, the Company has based on the above-mentioned redemption ratio and requirement, issued i.e. transferred in total 2,279 treasury shares to the abovementioned shareholders without consideration so that the number of shares held by such shareholders is divisible with 100. This share issue / transfer concerns all shareholders in groups a) and b) above holding nominee registered shares recorded in Euroclear Finland Ltd’s book-entry system or Euroclear Sweden AB’s securities system, and the number of shares which are required by their shareholding in the Company being divisible by the number 100.
Furthermore, in total 12,721 treasury shares were annulled pursuant to the decision of the Board of Directors today on 13 May 2020. The final quantity of shares after the above-mentioned annulment of shares i.e. the number of shares after all arrangements connected to the reduction of the quantity of shares is expected to be registered within the Trade Register approximately on 22 May 2020.
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 13 May 2020 at 4.30 p.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, email@example.com, phone: +46 8-505 65 172.