THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, SINGAPORE, JAPAN, SWITZERLAND OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION OF THE INFORMATION WOULD BE CONTRARY TO LAW OR WOULD REQUIRE REGISTRATION OR OTHER ACTIONS
The final outcome in CTEK AB (publ)’s (“CTEK” or the “Company”) rights issue of shares of approximately SEK 350 million (the “Rights Issue"), where the subscription period ended on 24 March 2023, shows that 19,640,130 shares, corresponding to approximately 98.2 percent of the offered shares, have been subscribed for with support of subscription rights. Additionally, applications to subscribe for 353,091 shares without support of subscription rights have been utilized, corresponding to approximately 1.8 percent of the offered shares. In total, subscriptions with support of subscription rights and subscription applications for subscription without support of subscription rights correspond to the total amount of shares offered in the Rights Issue. Thus, the Rights Issue is fully subscribed and no guarantee commitments have been utilized. As a result of the Rights Issue, CTEK will receive total issue proceeds of approximately SEK 350 million before deduction of transaction costs.
The Rights Issue comprised 19,993,221 shares, of which 19,640,130 shares, corresponding to approximately 98.2 percent of the offered shares, have been subscribed for with support of subscription rights. A total of 353,091 shares have been allotted to individuals who have applied to subscribe for shares without support of subscription rights, corresponding to approximately 1.8 percent of the offered shares, in accordance with the principles set out in the prospectus published on 8 March 2023. In total, subscriptions for shares with support of subscription rights and subscription for shares without support of subscription rights correspond to the total amount of shares offered in the Rights Issue. Thus, the Rights Issue is fully subscribed and no guarantee commitments have been utilized.
CTEK will receive proceeds through the Rights Issue of approximately SEK 350 million before deduction of transaction costs. As a result of the Rights Issue, CTEK’s share capital will increase by SEK 19,993,221 from SEK 49,983,054 to SEK 69,976,275 and the number of shares and votes will increase by 19,993,221 from 49,983,054 to 69,976,275.
Those who have subscribed for shares without the support of subscription rights will be allotted shares in accordance with the principles set out in the prospectus published on 8 March 2023. Notice of allotment to the persons who have subscribed for shares without support of subscription rights is expected to be distributed on 28 March 2023. Subscribed and allotted shares must be paid for in cash within two banking days in accordance with the instructions on the settlement note sent to the subscriber. Investors who have subscribed through a nominee will be notified of the allotment in accordance with their respective nominee's procedures. Only those who have been allotted shares will be notified.
The last day for trading in paid subscribed shares (BTA) is expected to be on 28 March 2023. The new shares subscribed for with support of subscription rights are expected to be registered with the Swedish Companies Registration Office around 30 March 2023 and the new shares are expected to start trading on Nasdaq Stockholm around 4 April 2023. The new shares subscribed for without support of subscription rights are expected to be registered with the Swedish Companies Registration Office around 3 April 2023 and the new shares are expected to start trading on Nasdaq Stockholm as of 4 April 2023.
Advisors
Carnegie Investment Bank AB (publ) and Swedbank AB (publ) act as Joint Global Coordinators and Joint Bookrunners in relation to the Rights Issue. Advokatfirman Vinge KB is legal advisor in relation to the Rights Issue.
The information was provided by the contact persons below for publication 28 March 2023 at 08:30 CEST.
The Board of CTEK AB (publ)
For more information, please contact:
Ola Carlsson, acting CEO and Group President
Email: ola.carlsson@ctek.com
Niklas Alm, Investor Relations
Tel: +46 708 24 40 88
Email: niklas.alm@ctek.com
About CTEK
CTEK is one of the leading global suppliers of battery chargers for various premium segment vehicles and one of Sweden's largest suppliers of chargers and accessories for electric vehicle charging. The company is defined by a strong innovation culture and works continuously to improve and develop new products to suit customer needs. CTEK was founded in 1997 in Vikmanshyttan and has sales in over 70 countries. With a history of innovation and technology leadership, the company proactively meets new customer needs by continuously evolving its product range and operations. Through its technology leadership, CTEK has established strong, long-standing customer relationships with over 50 of the world's most prestigious vehicle manufacturers. In addition to vehicle manufacturers, CTEK offers products to vehicle repair shops, distributors, retailers, charging point operators and property owners, among others.
IMPORTANT INFORMATION
This announcement is not and does not form a part of any offer for selling, or a request to submit an offer to buy or acquire, shares or other securities of the Company.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be exercised, offered, sold, resold, delivered or otherwise transferred, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the requirements of the Securities Act and in compliance with any applicable securities legislation in any state or other jurisdiction of the United States. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
Forward-looking statement
Matters discussed in this announcement may constitute forward-looking statements. Forward looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "deems", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. This applies in particular to statements relating to future results, financial position, cash flow, plans and expectations of the Company's operations and management, future growth and profitability, general economic and regulatory environment and other factors affecting the Company, many of which are based on further assumptions, such as no changes in existing political, legal, fiscal, market or economic conditions or applicable law (including but not limited to accounting principles, accounting methods and tax policies), which may or may not be of importance to the Company results or its ability to operate. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward looking statements.
Potential investors should therefore not attach undue confidence to the forward-looking information herein, and potential investors are urged to read the parts of the prospectus that include a more detailed description of factors that may affect the Company's operations and the market in which the Company operates.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date and could be subject to change without notice.
