The annual general meeting of Hoylu AB (publ) (“Hoylu” or “Company”) resolved on 16 May 2018 to authorize the board of directors, with or without deviation from the shareholders’ preferential rights, on one or more occasions until the next annual general meeting, to resolve to increase the Company’s share capital through new issues of shares, warrants or convertibles debt to the extent permitted by the Articles of Association (the “Authorization”). The Authorization has not yet been registered with the Swedish Companies Registration Office.
The Company announces today that the Board intends to resolve a directed issue of convertible debt as soon as the Authorization has been registered with the Swedish Companies Registration Office. The main terms of the proposed directed issue are shown below.
· The directed issue of convertible debt shall amount to a total amount of SEK 15,250,000.
· The conversion price is set at SEK 5.00 per new share, which corresponds to approximately 95.2 percent of Hoylu’s closing price on Nasdaq First North on May 28, 2018. The conversion price was based upon the average trading price on the 28th of May, 2018.
· With a conversion price of SEK 5.00 the highest number of shares that may be issued upon conversion is 3,050,000 shares, representing a dilution of approximately 17 percent of the current stockholders’ equity and votes in the company.
· The convertible debt shall mature after eight months and carry an annual interest rate of 8 per cent.
· The right to subscribe for the convertible debt, which the board intends to issue with deviation from the shareholders’ preferential rights, shall be granted to Alden AS, Fougner Invest AS, Nakajima Investments LLC, Modelio Equity AB, Pine AS, Camelback Holding AS, Camelback Eiendom AS, Gerhard Dal, Eslom Capital AB, Hering AS, and Onetwo3 AS.
· The reason for the proposed directed issue and the deviation from the shareholders’ preferential rights, is to increase the Company’s working capital for continued growth. The Board’s assessment is that a directed issue of convertible debt under the circumstances is the Company’s most favorable way to obtain financing. The convertible debt are not planned to be Subject to trade.
For more information, please contact:
Stein Revelsby, CEO Hoylu + 1 213 440 2499 Email: firstname.lastname@example.org
Karl Wiersholm, CFO Hoylu + 1 425 829 2316 Email: email@example.com
Hoylu delivers innovative solutions to allow global collaborative teams plan, create and share information that will enrichen the user experience in the virtual office. The Hoylu Suite delivers a comprehensive set of personalized digital workspaces to enable teams across locations, on any device, to work smarter and with more fun across major industries including Engineering, Education, Pharmaceutical, Construction, Manufacturing, Graphic Design and many more.
For more information visit:
www.hoylu.com or www.introduce.se/foretag/hoylu
Marketplace: Nasdaq First North Stockholm
Certified Adviser: Mangold Brokerage AB + 46 (0) 8 50 301 550
Legal Advisors: MAQS Advokatbyrå
This information is information that Hoylu AB 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, at (8:45) CEST on May 29, 2018.