From the Wires
Solteq Plc - Directed Share Issue to the Company's CEO
By: PR Newswire
Apr. 21, 2017 07:16 AM
HELSINKI, April 21, 2017 /PRNewswire/ --
Solteq Plc Stock Exchange Bulletin 21.4.2017 at 2.00 pm
Solteq Plc's Board of Directors decided today to carry out a directed share issue of 400,000 shares to the company's CEO Olli Väätäinen.
The decision on the directed share issue and deviation from the shareholders' pre-emptive subscription rights was made based on the authorisation granted by the Annual General Meeting of 17 March 2017. There was a weighty reason for the issue: CEO's commitment to the implementation of the company's strategy and to its financial goals.
The share issue will be carried out by issuing new shares that will carry full rights after they are registered in the Trade Register. After the registration, admission to trading will be sought for the shares.
The subscription price of each share will be 1.63 euro. The determination of the subscription price was based on the trade weighted average price of the share at NASDAQ OMX Helsinki in March 2017, and the price also fell within the bid-ask spread at the close of trading yesterday. A full subscription of the offered shares means a capital contribution of 652,000.00 euro to the company. The subscription price will be recognised in full in the reserve for invested non-restricted equity. The company will provide no financing for the subscription.
The CEO subscribed for all the shares offered to him today.
-I see significant growth potential in the company's business. The personnel are top experts, and it is a great pleasure to work with them, Olli Väätäinen says with excitement in his voice.
The Company's Board of Directors also decided to cancel all 364,533 treasury shares held by the company. When the share subscription and the cancellation of the treasury shares are registered in the Trade Register, the total number of the company's shares will be 18,039,102.
Markku Pietilä, Chairman of the Board
Antti Kärkkäinen, CFO
NASDAQ OMX Helsinki.
Solteq in Brief
Solteq is the partner to it's customer, who knows what it takes to win in digital disruption, regardless of our customer's industry. We have the capabilities to provide unique comprehensive service, which covers the technological solutions, continuous services and business support. With 450 experts working in three countries we deliver solutions to Europe, North America, Asia and Australia. In 2016, our revenue amounted to 63 million euro.
This information was brought to you by Cision http://news.cision.com
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