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Stockholm, September 21, 2020 – The Board of Directors of Anoto Group AB (“Anoto” or the “Company”) has, on the basis of an authorisation from the Annual General Meeting held on May 18, 2020, resolved on a directed rights issue of 7,022,560 ordinary shares at a subscription price of USD 0.14 per share (approximately SEK 1.2) (the “New Issue”). The subscription price has been determined after discussions at an arm’s length between investors and Anoto and corresponds to a premium of approximately 9.7 percent against the volume-weighted average price during the 10 trading days prior to the Board’s issue decision.
The new ordinary shares in the New Issue has been subscribed by Soltworks Co Ltd (“Soltworks”), an ICT Company listed on KOSDAQ and currently the largest shareholder (19% before and 22% after the New Issue) of Anoto. The reason for the deviation from the shareholders’ preferential rights is to carry out capital raising in a timely and cost-efficient manner.
“Soltworks continues to see long-term value in Anoto as well as KAIT. The fact that Soltworks is willing to invest at a premium to the market, especially during the COVID-19 times, is a testament to its strong belief in Anoto and KAIT. As we are ramping up production volume, we are happy to see our largest institutional shareholder step up to finance the Company,“ says Joonhee Won, CEO of Anoto.
“We are excited about the developments at Anoto and KAIT, and we will support Anoto’s business by distributing Anoto and KAIT products in Korea. We believe strongly in the long-term potential and will continue to be a major shareholder in Anoto,” says Chulsoon Choi, CEO of Soltworks.
Through the New Issue, Anoto will receive approximately SEK 8.8 million before issue costs. The New Issue has a dilution effect of approximately 4 percent of the share capital after dilution by increasing the number of outstanding shares from 170,262,257 to 177,284,817.
The proceeds will be used for build-up of pen inventory in preparation for an expected increase in demand of pens for KAIT.
For further information, please contact:
Johannes Haglund, Chief of Staff, Anoto Group AB
For more information about Anoto, please visit www.anoto.com or email ir@anoto.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116 74 Stockholm
This information is information that Anoto Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on September 21, 2020 at 08:00 CET.