One (1) warrant of series TO 2 B entitles to subscription of one (1) new B share in Calmark. According to the terms, the exercise price will be SEK 4.44. Upon full utilization of all subscription warrants, Calmark would be provided proceeds of approximately MSEK 10.9 before issuance costs.
Summary of instructions and important dates
- Holders of subscription warrants who want to exercise their right to subscribe for B shares must give advance notice before Wednesday, December 16, 2020. The warrants will then expire worthless.
- Those holders who do not want to exercise their warrants are recommended to sell them. Trading in warrants continues until Monday, December 14, 2020.
Detailed information and instructions for subscribing
Exercise of warrants, nominee-registered holders
Nominee-registered holders (holdings in securities custody services, investment savings accounts ISK or endowment insurances) of series TO 2 B subscription warrants shall contact their respective trustee to give notice and then follow the trustee´s instructions for subscription and payment. They should do so well in advance of Wednesday, December 16, 2020, as procedural delays may vary.
Exercise of warrants, directly registered holders
Directly registered holders (holdings in securities accounts ”VP-accounts”) of series TO 2 B subscription warrants shall give notice by filling out and submitting an application form for exercise of Calmark's TO 2 B so that it reaches the issuing agent, Hagberg & Aneborn Fondkommission, no later than 15:00 on Wednesday, December 16, 2020.
The application form is available for download
- from Calmark's website, www.calmark.se
- Hagberg & Aneborn Fondkommission's website, www.hagberganeborn.se
Please note that the payment for the new shares also is due to Hagberg & Aneborn Fondkommission no later than December 16, 2020, in accordance with the instructions on the application form.
Trading in Calmark TO 2 B
Those holders who do not wish to exercise their warrants are recommended to sell them on Spotlight Stock Market so that they can be exercised by someone else. The Calmark TO 2 B warrant is subject to trading on Spotlight Stock Market until Monday, December 14, 2020. Subscription warrants that are not exercised before December 16, 2020, or sold before December 14, 2020, expire and become worthless.
Outcome and delivery of new shares
The outcome of the exercise of TO 2 B warrants will be announced in a press release towards December 18, 2020.
The new shares will be delivered to the subscribers' accounts as interim shares (IA). They will thereafter be admitted to trading on Spotlight Stock Market as soon as the new issue is registered with the Swedish Companies Registration Office and Euroclear, which is foreseen to be completed towards the first week of 2021.
Complete terms for Calmark TO 2 B
The complete terms for Calmark TO 2 B are available in the information memorandum that the Board of Directors of Calmark prepared in conjunction with the rights issue in 2019. The memorandum can be downloaded from Calmark's website, www.calmark.se.
The ISIN code of Calmark TO 2 B is SE0013282662.
Number of TO 2 B warrants and possible proceeds
The number of warrants amounts to 2,455,560. Upon full utilization of all subscription warrants, Calmark would be provided proceeds of approximately MSEK 10.9 before issuance costs of approximately MSEK 0.5.
Stockholm Corporate Finance AB is the financial advisor, Stenbergets Avtalslösningar AB is the legal advisor and Hagberg & Aneborn Fondkommission AB is the issuing agent of Calmark in connection with the exercise period.
About Stockholm Corporate Finance
Stockholm Corporate Finance is a Swedish, independent and privately-owned financial advisor offering qualified transaction based advisory services by acting in capital raisings, changes in ownership, acquisition, merger and acquisitions (M&A) in listed and privately held companies. Stockholm Corporate Finance is the exclusive Swedish partner in the global network of M&A Worldwide consisting of 46 M&A advisors and investment banks in 38 countries. Stockholm Corporate Finance is an investment firm which is supervised by the FSA and is a member of the trade organization SwedSec Licensing AB. www.stockholmcorp.se.
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.