Beijer Electronics Group's rights issue oversubscribed

2017-09-27

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONGKONG, JAPAN, CANADA, SWITZERLAND, SINGAPORE, SOUTH AFRICA OR NEW ZEELAND OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES BESIDES THOSE REQUIRED BY SWEDISH LAW.

The preliminary result of the rights issue in Beijer Electronics Group AB (publ) (”Beijer Electronics Group” or the “Group”), for which the subscription period ended on September 22, 2017, shows that the rights issue is oversubscribed. As a result of the rights issue, Beijer Electronics Group will receive proceeds amounting to approximately SEK 225 million before costs related to the rights issue.

The preliminary result shows that 9,470,919 shares, corresponding to approximately 99.3 per cent of the shares offered, have been subscribed for by the exercise of subscription rights. Additionally, applications for subscription without subscription rights of 5,812,014 shares, corresponding to approximately 61.0 per cent of the shares offered, have been received. Thus, the rights issue is oversubscribed and the guarantee undertakings submitted by Stena Sessan Investment AB and Svolder AB will not be utilised.

As a result of the rights issue, Beijer Electronics Group will receive proceeds amounting to approximately SEK 225 million before costs related to the rights issue. The rights issue will increase Beijer Electronics Group’s share capital with approximately SEK 3,177,931 to approximately SEK 9,533,793 by issuing 9,533,793 shares. The number of shares in Beijer Electronics Group after the rights issue will amount to 28,601,379 shares.

The new shares subscribed for by the exercise of subscription rights are expected to be registered by the Swedish Companies Registration Office (“SCRO”) on or about September 28, 2017. The last day of trading in the interim shares (“BTA”) is October 3, 2017. The new shares are expected to start trading at Nasdaq Stockholm on or about October 10, 2017. The new shares subscribed for without subscription rights are expected to be registered by the SCRO on or about October 6, 2017.

The final result of the rights issue will be published through a press release from Beijer Electronics Group on or about September 29, 2017. Allotment of shares that were subscribed for without subscription rights will be made in accordance with the principles outlined in the prospectus. As confirmation of allocation of shares subscribed for without subscription rights, a transaction note will be sent to those who have been allotted shares, which is expected on or about September 29, 2016. No communication will be sent to those who have not been allocated shares. Subscribed and allotted shares must be paid for in cash in accordance with the instructions in the transaction note sent to those who have been allotted shares. Shareholders with nominee-registered holdings will receive confirmation of the allotment in accordance with the procedure of the respective nominee. Only those who are allotted shares will be notified.

Financial and legal advisors

Danske Bank is acting as financial advisor and Mannheimer Swartling as legal advisor to Beijer Electronics Group in connection with the rights issue.

Important notice

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Beijer Electronics Group. Any invitation to the persons concerned to subscribe for shares in Beijer Electronics Group will only be made through the prospectus that Beijer Electronics Group published on September 4, 2017.

The information in this press release may not be released, published or distributed, directly or indirectly, in or into the United States (including its territories and provinces, every state in the United States and the District of Columbia), Australia, Hong Kong, Japan, Canada, New Zeeland, Switzerland, Singapore or South Africa or any other jurisdiction in which such action is subject to legal restrictions or would require other measures than those required by Swedish law.

This press release does not contain or constitute an offer to acquire or subscribe to securities in the United States. No subscription rights, BTAs (interim shares) or shares have or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities legislation of any state or other jurisdiction in the United States may not be offered, subscribed, sold or otherwise transferred, directly or indirectly, in or within the United States, other than pursuant to an exemption from, or in a transaction that is not subject to, the registration requirements under the U.S. Securities Act and in accordance with the securities legislation in the relevant state or any other jurisdiction of the United States. Beijer Electronics Group does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering in the securities in the United States.


For more information please contact:

Beijer Electronics Group:

President and CEO, Per Samuelsson, tel +46 (0)40 35 86 10, mobile +46 (0)708 58 54 40
CFO Joakim Laurén, tel +46 (0)40 35 84 96, mobile +46 (0)703 35 84 96


Beijer Electronics Group is a fast growing technology company with extensive experience of industrial automation and data communication. The company develops and markets competitive products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics Group has evolved into a multinational group with sales over 1.1 billion SEK 2016. The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list under the ticker BELE. www.beijergroup.com

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