Wetteri Plc Inside information, 21 December 2023 at 18.00 EET
Not for publication or distribution in the United States, Australia, South
Africa, Hong Kong, Japan, Canada, Singapore or New Zealand or any other country
where such distribution or disclosure may be subject to statutory restrictions
or would be against the local laws or regulations.
Directed share issue
The Board of Directors of Wetteri Plc (“Wetteri” or “Company”) has 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 8[th] of May 2023. The share issue aims
to raise a total funds of EUR 3.4 million.
Wetteri offers a total of 7,327,587 new shares of the Company in the directed
share issue. The maximum number of shares corresponds to approximately 5.2
percent of all outstanding shares issued by Company immediately prior to the
directed share issue. The new shares will be offered for subscription by 22nd of
December 2023 at the latest, unless the Company's Board of Directors decides to
extend the subscription period.
The subscription price is EUR 0.464 per share, which is the closing price of the
Company's share on 20[th] of December 2023 at the end of trading in the Helsinki
Stock Exchange less approximately 10,1 percent discount. The subscription price
of the new shares will be recorded in full in the Company's invested
unrestricted equity fund.
There is a weighty financial reason for deviation from the pre-emptive
subscription rights of the Company's shareholders as in the share issue the
Company will receive additional equity funding to the Company with a fast
schedule and reasonable transaction costs. With this capital, arrangements in
line with the strategy can be implemented within the planned schedule.
If the directed share issue is fully subscribed, the number of Wetteri's shares
may increase to a maximum of 148,312,609 shares (the maximum of 100,000 new
shares to be issued in a free share issue to personnel announced earlier today
has been included in the amount). The new shares to be issued in the directed
share issue and the free share issue to personnel would correspond to
approximately 5.0 % of the total number of Wetteri's shares after the new shares
were issued (if the above-mentioned share issue to personnel had also been
carried out in full).
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 acts as the Company's financial adviser
and Lexia Attorney's Ltd as the Company's legal advisor in the directed share
issue.
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 900 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/ (https://eur01.safelinks.protection.outlook.com/?url=h
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