Rovsing A/S - Inside information
Rovsing A/S announces result of oversubscribed rights issue
Rovsing A/S ("Rovsing" or the "Company") today announces the results of the rights issue announced on 4 May 2026 in Company Announcement no. 400/401 (the "Offering" or the "Rights Issue") offering new shares with a nominal value of DKK 10 each (the "New Shares") at a subscription price of DKK 30.00 per New Share with pre-emptive subscription rights (the "Pre-emptive Rights") for the Company's existing shareholders.
The full Offering of 346,522 New Shares has been subscribed for, raising total gross proceeds to the Company of DKK 10,395,660.00. The Rights Issue was oversubscribed, with total subscriptions received amounting to DKK 13,029,480, corresponding to 125.3% of the Rights Issue. Due to the oversubscription, guarantee commitments have not been activated.
"We are pleased with the outcome of the Rights Issue and grateful for the strong support from both existing shareholders and new investors. The successful completion of the Rights Issue strengthens the Company's capital structure and financial flexibility." says Ulrich Ernst Beck, Chairman of Rovsing.
Highlights of the Offering
The Rights Issue was oversubscribed, with total subscriptions received amounting to DKK 13,029,480, corresponding to 125.3% of the Rights Issue.
- 310,662 New Shares were subscribed for through the exercise of Subscription Rights, corresponding to 89.7% of the Rights Issue.
- 123,564 New Shares were subscribed for through the Application Form, corresponding to 35.7% of the Rights Issue.
Allocation of Remaining Shares
Remaining shares are New Shares not subscribed for by Existing Shareholders through the exercise of Subscription Rights, or by acquirers of Subscription Rights prior to the expiry of the Subscription Period (the "Remaining Shares"). Allocation of the Remaining Shares in the Rights Issue was determined by the Company's Board of Directors, and all orders for Remaining Shares by use of the Application Form for Remaining Shares will receive pro-rata allocation.
Timetable
The Company expects to complete the Offering on 2 June 2026 after receipt of all subscription amounts, upon which the capital increase will be registered with the Danish Business Authority. Trading in the New Shares on Nasdaq Copenhagen A/S is expected to commence on 4 June 2026. The temporary ISIN code is expected to be merged with the existing ISIN code on 8 June 2026.
Number of shares and share capital
Each share in Rovsing has a nominal value of DKK 10. When the New Shares from the Rights Issue have been registered with the Danish Business Authority, expected on 2nd June 2026, the share capital will increase by a nominal DKK 3,465,220, from nominally DKK 7,402,970.00 to DKK 10,868,190.00. The total number of shares will increase by 346,522 New Shares, from 740,297 shares to 1,086,819 shares. The dilution effect for existing shareholders who did not participate in the Rights Issue therefore amounts to approximately 31.9 percent.
Full conversion of convertible loan note
In connection with the Rights Issue, existing shareholder and Member of the Board, Kim Brangstrup, has notified the Company that he wishes to exercise his convertible loan note dated 8 February 2024 (see company announcement no. 363-2024) to convert debt into shares in the Company. Pursuant to the terms of the convertible loan note, the conversion may take place at the same conversion rate as the subscription price applicable to the Rights Issue. Consequently, according to its authorization under Article 7.2 of the Articles of Association, the Board of Directors has resolved to issue 50,401 New Shares at a subscription price of DKK 30.00 per share by full conversion of the convertible loan note, corresponding to a share issue by way of debt conversion in the amount of DKK 1,512,030, directed to the existing shareholder and Board member, Kim Brangstrup. The New Shares will represent 4.4% of Rovsing's share capital after the conversion of the convertible loan note.
Articles of Association
Updated Articles of Association reflecting the completion of the rights issue and the conversion of debt will be registered with the Danish Business Authority and be available at the Company's website on 2nd June 2026.
Advisors
HC Andersen Capital is acting as financial and legal adviser to the Company.
Settlement Agent
Jyske Bank acts as settlement agent in connection with the Offering.
Contact information
Sigurd Hundrup, CFO Tel. + 45 53 39 18 92 E-mail: shu@rovsing.dk
