The Board of Directors of Hoylu resolves on a private placement of approximately SEK 28.5 million, and a directed share issue of approximately SEK 1.5 million subject to shareholders’ approval

The Board of Directors in Hoylu AB (publ) (“Hoylu” or the “Company”) has today, based on the authorization granted by the Annual General Meeting on 25 June 2020, resolved, and carried out, a directed share issue of approximately SEK 28.5 million (the “Private Placement”).

In addition, the Board of Directors resolved, subject to the subsequent approval by the shareholders on an extraordinary general meeting, to carry out a directed share issue of up to 535,713 new shares to the Deputy CEO Truls Baklid and the board member Hans Othar Blix (the “Directed Share Issue”). The Board of Directors intends to summon shareholders to an extraordinary general meeting to resolve on the Directed Share Issue. The notice of the extraordinary general meeting will be issued separately, together with complete terms and conditions of the Directed Share Issue.

Summary: The Private Placement
• The Private Placement results in an increase of the Company’s share capital with SEK 839,111.50 through the issue of 10,178,572 new shares.
• The shares have been subscribed and shall be paid in cash within three bank days.
• The subscription price is SEK 2.80 per new share, which is equal to a discount of approximately 2.10 per cent compared to the volume-weighted average price during the last ten trading days in the Company’s shares.
• The investors include Fougner Invest AS, Alden AS, TTC Invest AS, Bimo Kapital AS, Kristianro AS, Helling Invest AS, Robert Keith, Trellevika Invest AS, Camelback Holding AS, Camelback Eiendom AS, Erling Johnsen A/S, Lofast Eiendom AS, Onetwo3 AS, Nucleus Life AG, Norse Partners AS, Libert AS, Navesta AS, Anglo Invest AS, Staco AS, and Windchange Invest AB and Andreas Martinussen.
• The reason for the Private Placement, and the deviation from the shareholders’ preferential right, is to further strengthen the investor base and to provide the Company with strategically important owners (Libert AS, Navesta AS, Anglo Invest AS, Staco AS, and Windchange Invest AB and Andreas Martinussen). Furthermore, a directed share issue can be implemented much faster and to lower cost than a rights issue. The Company needs capital for its continued operations, and the Board's assessment is, considering the above and the proposed subscription price, that a directed share issue is deemed to be of benefit to the Company and its shareholders.