Eltel AB’s (publ) (”Eltel” or the “Company”) share issue with preferential rights for the Company’s shareholders has been fully subscribed, thereby raising gross proceeds of approximately SEK 1,500 million before issue costs. The subscription period ended on June 22, 2017. In total, 93,516,133 shares, corresponding to approximately 99.6 percent of the rights issue, were subscribed for with the exercise of subscription rights. Additionally, applications for subscription without subscription rights have been received for 18,769,944 shares, corresponding to approximately 20 percent of the total rights issue. Hence, the rights issue has been fully subscribed and the banks’ underwriting commitment will not be utilized.
Allotment of new shares subscribed for without subscription rights will be made according to the principles outlined in the prospectus. Such subscribers who have been allotted shares subscribed for without subscription rights are expected to be notified around July 3, 2017. Shareholders with nominee-registered holdings will receive confirmation of the allotment in accordance with the procedure of the respective nominee. Only those who are allotted shares will be notified.
Through the rights issue, the number of ordinary shares in Eltel will increase by 93,936,357 to 156,560,595 and the share capital will increase by approximately EUR 94,735,011 to approximately EUR 158,433,250 in total, following registration of the rights issue by the Swedish Companies Registration Office. The exceeding amount of the issue proceeds after deduction of issue costs will be accounted for in the share premium reserve on the Company’s balance sheet and thereby increase the Company’s unrestricted equity.
The last day of trading in paid subscribed shares (BTA) at Nasdaq Stockholm is expected to be July 4, 2017. The new shares subscribed for with subscription rights are expected to start trading at Nasdaq Stockholm around July 6, 2017. New shares subscribed for without exercise of subscription rights are expected to start trading at Nasdaq Stockholm around July 10, 2017. The above is the final result of the rights issue and hence no additional press releases pertaining to the rights issue outcome will be published.
Financial and legal advisors
Danske Bank A/S, Danmark, Sverige Filial, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB are financial advisors and Hannes Snellman Attorneys is legal advisor to Eltel in connection with the rights issue.
For more information:
VP – IR and Group Communications
Tel: +358 40 311 3009, email@example.com
This information is information that Eltel 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 16.40 CET on 28 June 2017.
Eltel is a leading Northern European provider of technical services for critical infrastructure networks – Infranets – in the segments Power, Communication and Other, with operations throughout the Nordics, Poland and Germany. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. In 2016, Eltel net sales amounted to EUR 1.4 billion. The current number of employees is approximately 9,500. Since February 2015, Eltel is listed on Nasdaq Stockholm.
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Eltel. Any invitation to the persons concerned to subscribe for shares in Eltel is only made through the prospectus published on 7 June 2017.
This press release may not be released, published or distributed, directly or indirectly, in or into Australia, Japan, Canada, the United States or any other jurisdiction where participation would require additional prospectuses, registration or measures besides those required by Swedish law. Nor may this press release be distributed in or into such countries or any other country or jurisdiction in which distribution requires such measures or otherwise would be in conflict with applicable regulations. Any failure to comply with the restrictions described may result in a violation of applicable securities regulations.
The subscription rights, paid subscribed shares and shares in Eltel have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or the securities legislation of any state or other jurisdiction in the United States and no subscription rights, paid subscribed shares or shares may be offered, subscribed for, exercised, pledged, sold, resold, granted, delivered or otherwise transferred, directly or indirectly, in or into the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States. There will be no public offering of such securities in the United States.
The securities referred to herein have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the rights issue or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.
 In addition, there are 537,000 C-shares in the Company, all of which are held by Eltel.