NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.
The application period for Zutec Holding AB (publ)’s (“Zutec” or the “Company”) offering to subscribe for newly issued shares in the Company (the “Offering”) ended on 5 March 2018.The Offering, which is conducted in connection with the upcoming listing on Nasdaq First North, was oversubscribed. The expected first day of trading on Nasdaq First North is 15 March 2018.
CEO Brendan O’Riordan comments
We would like to thank and welcome all of our new shareholders, large and small, for becoming an integral part of our company. The IPO process has been both intense and exciting. With added fuel in the form of IPO proceeds, we now turn our focus back to accelerating the expansion of our growing and profitable business.
Subscription, allotment and payment
The Offering to subscribe for shares in Zutec was oversubscribed. Through the Offering, 2,083,334 new shares in the Company are issued. Thereby, Zutec gains proceeds of approximately MSEK 50 before transactions costs, which are expected to amount to approximately MSEK 7.9. Settlement notes are sent out on 6 March 2018 and the settlement date for allotted shares is 9 March 2018.
Listing on Nasdaq First North
The expected first day of trading on Nasdaq First North is 15 March 2018.
Number of shares and share capital
After the share issue, which is conducted in consequence of the Offering, has been registered with the Swedish Companies Registration Office, the total number of shares in the Company will increase by 2,083,334 shares from 5,000,000 shares to7,083,334 sharesand the share capital will increase by SEK 416,666.8 from SEK 1,000,000.0 to SEK1,416,666.8, which corresponds to a dilutive effect of approximately 29.4 per cent.
Zutec develops and markets cloud-based software solutions, primarily directed to companies within the building and construction industry. The Company’s products help clients to increase their productivity and cost efficiency. Zutec provides solutions within project management, data and document collaboration tools, data enriched 3D-models, defect management, project handover and the operations and maintenance of buildings. The Company’s main product is the Zutec Platform, which may be described as a cloud-based database. The Company markets several modules which can be connected to the platform to increase its functionality according to the needs of the customer.
Among the Company’s clients are some of the world’s largest construction firms, who have used Zutec’s solutions in major projects globally. Typical projects that Zutec’s services may be used for are airports, ports, hospitals, universities, public buildings and large commercial projects. Prestigious projects in which Zutec’s platform has been used include Wembley Stadium, the Shard and Doha Airport.
Remium Nordic AB is the financial advisor and Remium Nordic Holding ABis the Company’s Certified Adviser. MAQS Advokatbyrå is acting as the Company’s legal advisor in relation to Swedish law and Reddy Charlton Solicitors acts as the Company’s legal advisor in relation to Irish law. Hagberg & Aneborn Fondkommission AB is acting as issuing agent in connection with the Offering.
For further information, please contact:
Brendan O’Riordan, CEO
+353 1 2013565
Conor O’Brien, CFO
+353 1 2013559
This information is information that Zutec Holding 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 27 March 2018, at 21:00 CET.
The information contained in this announcement does not constitute an offer to purchase, subscribe for, or in any other way, to trade with shares or other securities in the Company. The Offering to the concerned persons to subscribe for shares in the Company is made exclusively through the prospectus that has been published by the Company.
No action has been taken to permit a public offering in any jurisdiction other than Sweden, Ireland, Norway and Finland. The Offering is not directed to persons resident in the United States, Australia, New Zealand, Hong Kong, Japan, Canada, Switzerland, Singapore, South Africa or other jurisdictions where participation would require additional prospectus, registration or measures other than those pursuant to Swedish law.
The information contained in this announcement released, published or distributed, directly or indirectly, in or to the United States (including its territories and provinces, every state in the United States and District of Columbia (the "United States"), Australia, New Zealand, Hong Kong, Japan, Canada, Switzerland, Singapore, South Africa or other jurisdictions where such release, publication or distribution, in whole or in part, would be unlawful, subject to legal restrictions or would require registration or any other measures other than those pursuant to Swedish law. The information contained in this announcement may not be forwarded, reproduced or presented in any other way that is contrary to such restrictions. Failure to comply with these instructions may constitute a breach of in the United States Securities Act 1933, as amended (the “Securities Act”) or applicable laws in other jurisdictions.
No shares or other securities in the Company have been registered, and no shares or other securities in the Company will be registered, pursuant to the Securities Act or any other securities legislation at any time in force and may not be offered, sold or in any other way transferred, directly or indirectly, in or to the United States.
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