As announced in the bulletin that was published after the annual general meeting held on June 10, 2022, the meeting resolved to carry out a directed convertible notes issue in accordance with the proposal made by shareholder Alden AStowards certain investors. The directed convertible notes issue was subscribed to approximately 89,8 per cent corresponding to a total amount of SEK 13,473,347.
The convertible loan notes have been subscribed to a total of SEK 13,473,347 by Fougner Invest AS (controlled by Reidar Fougner), Trellevika Invest AS (controlled by Reidar Fougner's wife), Fredrik Fougner (son of Reidar Fougner), TTC Invest AS (controlled by Fredrik Urbanski), Skadi AS (controlled by Hans Othar Blix), Windchange Invest AB (controlled by Johan Lindqvist), Baklid Invest AS (controlled by Truls Baklid) and CeWi Invest AS (controlled by Karl Wiersholm). The reason for deviating from the shareholders' pre-emption rights is to enable investments in the company from the board members Reidar Fougner, Fredrik Urbanski, Hans Othar Blix, Johan Lindqvist, and members of the company's management, Truls Baklid, and Karl Wiersholm and to achieve alignment with the Company's shareholders. Furthermore, the company can raise capital in a time- and cost-efficient manner through a directed issue.
The previously announced loan agreement provided by Baklid Invest AS has now been settled by way of set-off in which Baklid Invest AS has been allocated convertible loan notes equivalent to SEK 3,000,000.
The convertible loan notes mature on October 31, 2022, and carry an annual interest rate of six (6) per cent. The conversion price for new shares is set at SEK 1.00 and the holder of the convertible instrument has the right to ask for conversion of whole or part of its claim to new shares in the company commencing on the date of the registration of the issue and up until October 31, 2022.
Share capital, shares and dilution
Upon on full conversion of the convertible loan notes in the directed issue to Investors (excluding accrued interest) the share capital will increase by approximately SEK by issue of 13,473,347 new shares. The dilution for existing shareholders amounts to a maximum of approximately 12.8 per cent.
For more information, please contact:
Truls Baklid, CEO Hoylu + 47 924 38 900 Email: tob@hoylu.com
Karl Wiersholm, CFO Hoylu + 1 425 829 2316 Email: kw@hoylu.com
Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Stockholm
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550; ca@mangold.se
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Important information
Release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions according to law and people in those jurisdictions, in which this press release has been announced or distributed, should inform themselves of and follow such legal restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Hoylu in any jurisdiction.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. The information in this press release may not be announced, published or distributed to the United States, Canada, Australia, South Africa, Japan, Hong Kong, Switzerland, Singapore, New Zealand or in any other jurisdiction where the announcement, publication or distribution of the information would not comply with applicable laws and regulations.
This press release is not a prospectus. Hoylu has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus has been prepared or will be prepared in connection with the directed new share issue.
Publication
The information was submitted for publication, through the agency of the contact persons set out above, at 22:00 CEST on June 14, 2022.
