The Board of Inission AB (publ) (“Inission” or the “Company”) has applied for listing of the Company’s B shares on NASDAQ OMX First North. In connection with this a new share issue is carried out which is expected to provide the company with SEK 20 million before issue costs.
About Inission
Inission is a profitable total supplier of customized manufacturing and logistics services in advanced industrial electronics. Inission develops and manufactures complete solutions or components for medical technology, automotive, measuring instruments, marine and control engineering. The company has five production units located in Stockholm, Gothenburg, Munkfors, Pajala and Tallinn with a total turnover of approximately SEK 250 million. Inission has about 170 employees.
Background and motive
We as owners are very proud of what we have achieved so far. We have established a strong brand in an industry that is categorized as not particularly exciting. We think, however, that it is exciting, we stand for innovation and we are a contender in the industry. We are following our plan and our ambition is continued profitable growth. Inissions strategy is to be a driver in the ongoing consolidation process in the industry by acquiring and enhancing strategically selected businesses.
From the Board we see a listing of the company as a natural evolution, the company has grown both organically and through successful acquisitions. By a listing of the Inission share, we can offer shares as payment for future acquisitions and also give others the opportunity to join our journey. For our employees, the listing means that we can invite them to become shareholders and thus further strengthen our ties and their commitment.
A listing on First North implies quality, which can bring positive effects for the company’s brand, the market position and exposure in the media.
The Offer
In order to provide the Company with additional capital and to broaden the ownership of Inissions shares, the Board, with the support of the shareholders’ meeting, has decided to issue new class B shares in accordance with the following (the “Offer”):
The general public in Sweden and institutional investors has the right to subscribe for new B shares in the Offer.
The offer includes a maximum of 200 000 new B shares. The subscription price of the Offer is SEK 100 per share, representing a total subscription amount of not more than SEK 20 million before issue costs. No commission is charged.
Subscription shall take place during the period 12 May to 2 June 2015th
At full subscription of the Offering the share capital of Inission will increase with a maximum of 100 000 SEK, from 500 000 SEK to 600 000 SEK. The number of B shares will increase by a maximum of 200 000 SEK, from 799,999 to 999,999 SEK.
In connection with the Offer, the Board of Inission has applied for listing of Inissions B shares on First North. Trading in the Company’s shares is expected to commence on or about 10’th of June 2015, provided that, among other things, the distribution requirement for First North is met.
In connection with the offering, Avanza has acted as financial advisor to the Company. Avanza is also a Certified Advisor.
Company Description, annual reports and application forms may be obtained soon on Inission’s webpage, www.inission.com and Avanza’s website, www.avanza.se. Printed company description and application form will be available from Inission from 20’th of May 2015th
Timetable
Application period; 12 May to 2 June 2015
Date of settlement; Around June 5th, 2015
Expected first day of trading on First North; Around June 10, 2015
For further information please contact:
Chairman of the Board
Bengt Assarsson
Cell. +46 703-47 95 51
Chief Executive Officer
Fredrik Berghel
Cell. +46 732-02 22 10
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
important information
This press release is not an offer of any securities of Inission. The Offer is not, directly or indirectly, intended for investors resident in the United States, Australia, Canada, Hong Kong, Japan or South Africa or any other country where participation in the Offer would require a prospectus, registration or other measures than those pursuant to Swedish law or would conflict with regulations in such country. The company description, application form and other related to the Offer documents may not be distributed in or into any country where such distribution or the offer requires measures as stated in the preceding sentence, or where they would conflict with regulations in such country. No new shares or other securities of Inission have been or will be registered under the United States Securities Act of 1933, or under the securities laws of any state of the United States or any province in Canada. Accordingly, no new shares or other securities of Inission transferred or offered for sale in the US or Canada, other than in such exceptional cases that do not require registration. The issue is directed only at (i) persons who are outside the United Kingdom; (ii) investment professionals falling within Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended); or (iii) other persons to whom it may lawfully be communicated.