SMS today announced that the company has decided to complete a directed share issue to members of the Board of Directors and executive management.
SMS has decided to carry out a directed share issue without pre-emptive rights for the company’s existing shareholders. The subscription price for the new shares has been set at DKK 2.75 per share, corresponding to yesterday’s closing price. The share issue provides the company with net proceeds of DKK 4.8 million and underscores management’s continued confidence in the company, its strategy, and its future development through a self-financed investment in the company.
The new shares have been subscribed for by Chairman of the Board Jonas Wulff Møller and Board Member Morten Rasmussen, each of whom has subscribed for 454,545 shares. Finally, Executive Management Member Jens Krohn has subscribed for 909,090 shares. Completion of the directed share issue will result in dilution of approximately 6.14% for the company’s existing shareholders.