Elanders Group resolves on rights issue
Elanders' extraordinary general meeting on August 23, 2010, approved a rights issue of new shares. The company aims to strengthen its capital base and financial position.
An extraordinary general meeting of Elanders on August 23, 2010, resolved to proceed with a rights issue. The company plans to issue up to 583,333 new class A shares and up to 9,181,666 new class B shares. This move is intended to bolster Elanders' equity and financial structure.
The subscription price for the new shares has been set at SEK 22 per share. Holders of class A shares will have the right to subscribe for one new class A share, and holders of class B shares will have the right to subscribe for one new class B share. The record date for participation in the rights issue is August 30, 2010, with the subscription period running from September 6 to September 20, 2010. A prospectus will be published before the subscription period begins.
For further details, President and CEO Magnus Nilsson and acting CFO Andréas Wikner are available. The background and reasons for the rights issue are further elaborated in a press release issued by Elanders on July 15, 2010.
The rights issue is not directed at shareholders or other investors domiciled in the United States, Canada, Japan, or Australia, or in any other jurisdiction where such participation would require additional prospectuses, registrations, or measures beyond Swedish law.