Record date for the distribution of warrants of series TO1 to current shareholders is set for 3 September 2021
On 25 August 2021, the board of directors of Veg of Lund AB (publ), (“Veg of Lund” or the “Company”) resolved to carry out a directed Issue of units (the “Directed Issue”), and to issue warrants of series TO1 to those who hold shares in Veg of Lund on the record date. The warrants will, to some extent, compensate the current shareholders in the Company for the dilution that the Directed Issue entails.
The record date to receive warrants of series TO1 has been set to 3 September 2021. Therefore, the last day of trading in the Company’s shares including the right to receive warrants of series TO1 is 1 September 2021, and the first day of trading in the Company’s shares excluding the right to receive warrants of series TO1 is 2 September 2021.
Those who are shareholders in Veg of Lund per the record date will receive one (1) warrant of series TO1 for every twenty-three (23) shares held on the record date. In total, at most 489,619 warrants of series TO1 will be issued to the shareholders of Veg of Lund.
The investors that have participated in the Directed Issue will not receive their shares before the record date and will therefore not have the right to receive warrants that are issued to compensate the current shareholders.
The full terms for the warrants of series TO1 will be shortly be available at the Company’s website: ir.vegoflund.se.
Terms and information regarding warrants of series TO1
Each warrant of series TO1 gives the holder the right to subscribe for one (1) new share in the Company at a subscription price corresponding to 70 percent of the volume-weighted average share price on Nasdaq First North Growth Market during the period from 10 February 2022 to 23 February 2022 (the “Measurement period”). However, the subscription price shall however never be determined to an amount below the quotation value of the Company's share or to a higher amount than SEK 51.00.
The exercise period for the subscription of new shares with warrants of series TO1 will be from and including 25 February 2022, up to and including 10 March 2022.
If all the warrants are exercised for the subscription of new shares, and under the condition that the share price during the Measurement period is SEK 72.86 or more, Veg of Lund receives an additional SEK 40 million.
Upon full exercise of all the warrants of series TO1, the dilution effect will amount to approximately 6.07 percent, in proportion to the number of shares after the registration of the Directed Issue.
Veg of Lund will apply for admission for trading of the warrants issued in the Directed Issue on Nasdaq First North Growth Market as soon as it is possible after the registration of the Directed Issue and the allotment to the current shareholders has been completed.
Mangold Fondkommission AB is the sole bookrunner and financial advisor and Fredersen Advokatbyrå is the legal advisor in connection with the Directed Issue.
For more information, please contact:
Veg of Lund AB
Cecilia Lindwall (CEO)
Telephone: +46 765 014 809
E-mail: [email protected]
About Veg of Lund
Veg of Lund develops unique plant-based foods meeting consumers’ demands for taste and sustainability. The company has roots in research at Lund University and owns patented methods for developing new food categories in the fast-growing market for plant-based foods. Veg of Lund’s climate-smart and tasty products are sold in Europe and Asia under the DUG® and MyFoodie® brands. The company’s shares were listed on the Nasdaq First North Growth Market under ticker VOLAB. Read more at ir.vegoflund.se. Eminova Fondkommission AB is the company’s Certified Adviser and can be contacted via telephone: +46 8 684 211 10 or e-mail: [email protected].
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