TCM Group A/S: TCM Group A/S' Board of Directors has Decided to Issue New Shares to be Subscribed for by the Sellers of Aubo Production A/S at Closing of the Transaction
26 Junio 2023 - 9:29AM
TCM Group A/S: TCM Group A/S' Board of Directors has Decided to
Issue New Shares to be Subscribed for by the Sellers of Aubo
Production A/S at Closing of the Transaction
COMPANY ANNOUNCEMENT
No. 169/2023
Tvis, 26 June
2023
TCM Group A/S' Board of Directors has Decided to Issue
New Shares to be Subscribed for by the Sellers of
Aubo Production A/S at Closing of the
Transaction
As announced in Company Announcement no. 167/2023 on 19 June
2023, part of the payment to the sellers of Aubo Production A/S is
payment in form of shares in TCM Group A/S ("TCM" or the "Company")
amounting to an agreed value of DKK 10 million. In preparation of
the closing of the transaction, which is expected shortly, the
number of shares to be issued to the sellers has been fixed at
149,925 shares, and the Board of Directors of TCM Group A/S has
today decided to issue these new shares. The new shares will not be
available for subscription until the closing of the
transaction.
The Board of Directors' decision to issue the 149,925 new shares
of a nominal value of DKK 0.10 each in a directed issue towards the
sellers of Aubo Production A/S is made pursuant to section 5.1 in
the Company’s Articles of Association according to which the Board
of Directors is authorized to make share capital increases without
pre-emption rights for the existing shareholders at market price.
The new shares are issued at a price of DKK 66.7 per share of DKK
0.10 based on the share value calculated as the volume-weighted
average closing price as shown by Nasdaq Copenhagen between and
including 19 June 2023 and 23 June 2023.
The new shares will rank pari passu in all respects with
existing shares in TCM Group A/S. Accordingly, the new shares will
be negotiable instruments, and no restrictions will apply to their
transferability. Rights conferred by the new shares, including
voting rights and dividend rights, will apply from the time when
the capital increase is registered with the Danish Business
Authority, which is expected to take place shortly after closing.
The new shares must be registered in the name of the holder in the
Company’s register of shareholders.
The New Shares are expected to be admitted to trading and
official listing on Nasdaq Copenhagen A/S in the permanent ISIN
code for the existing shares, DK0060915478, shortly after
closing.
For further information please contact:
Torben Paulin, CEO, TCM Group A/S, +45 21 21 04 64Thomas
Hjannung, CFO, TCM Group A/S, +45 97 43 52 00IR Contact –
ir@tcmgroup.dk
About TCM Group
TCM Group is Scandinavia’s third largest
manufacturer of kitchens and furniture for bathrooms and storage.
The products are designed and produced in Denmark and rooted in a
proud tradition of good quality and good craftsmanship. TCM Group
pursues a multi-brand strategy, under which the main brand is Svane
Køkkenet and the other brands are Tvis Køkken and Nettoline.
Combined, the brands cater for the entire price spectrum, and are
sold through c. 140 dealers in Denmark and the rest of the
Scandinavia. TCM Group sells private label kitchens through DIY
stores in Denmark and independent kitchen stores in Norway. TCM
Group is supplier to the 45% owned e-commerce kitchen business
Celebert, which operates under the brands kitchn.dk,
billigskabe.dk, Celebert and Just Woods. See www.tcmgroup.dk for
more information.
- 169. Issuance of new shares to the seller of Aubo
Production
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