The Rights Issue in summary
- Subscription period: February 1, 2023 - February 15, 2023 (note that some nominees close registration for subscription at an earlier date).
- Trading in unit rights: February 1, 2023 - February 10, 2023.
- Subscription with preferential rights: All existing shareholders received one (1) unit right for every one (1) share owned on the record date, January 30, 2023. One (1) unit right gives the right to subscribe for one (1) unit. One (1) unit consists of two (2) newly issued shares and one (1) warrant of series TO2.
- Subscription price: The subscription price is SEK 1.30 per unit, corresponding to SEK 0.65 per share as the warrants are received free of charge.
- Issue proceeds: In the event of full subscription in the Rights Issue, the Company will receive approximately SEK 35.1 million before issuing costs and in the event of full exercise of the warrants of series TO2 offered in the Rights Issue, the Company may receive an additional maximum of approximately SEK 21.9 million.
- Subscription commitments and underwriting commitments: The rights issue is covered to 70 percent by subscription commitments and underwriting commitments. Of which representatives from the board and management have entered into subscription commitments of approximately SEK 5.4 million, corresponding to approximately 15.2 percent of the total issue proceeds.
Subscription with preferential rights
The shareholders or representatives of shareholders who, on the record date of January 30, 2023, were registered in the share register maintained by Euroclear Sweden AB ("Euroclear") and on behalf of the Company, directly registered shareholders, receive a pre-printed issue report with attached payment advice from Euroclear. In the event that a different number of unit rights than those stated in the preprinted issue report are used for subscription, visit the Company's website www.moveaboutgroup.com or Mangold's website www.mangold.se.
Shareholders whose holdings of shares in the Company were nominee-registered with a bank or other nominee on the record date do not receive an issue report or a special application form from Euroclear. Subscription and payment must then instead take place in accordance with instructions from the respective nominee.
Subscription without preferential rights
Notification of subscription without preferential rights through nominees takes place according to instructions from the respective nominee. For subscription through an endowment insurance or investment savings account, please contact your nominee. Notification of subscription without preferential rights otherwise takes place by electronic subscription with BankID on Mangold's website www.mangold.se.
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå AB is legal adviser to Move About Group AB in connection with the Rights Issue.
For further information, please contact:
Olof Jonasson, CEO, Move About Group AB
Tel: +46 790 683 811
The Company's Certified Adviser is Mangold Fondkommission AB.
About Move About Group AB
Move About offers app-based, environmentally friendly and cost-effective mobility solutions to individuals, companies, municipalities and organizations. The Company has developed and owns all intellectual property rights to the cloud-based green tech platform that provides digital access to electric cars, electric bicycles, taxis, subway and parking, all through the same app - around the clock. Every kilometre that the user travels with the electric cars via the platform means reduced CO2 emissions. The Company's comprehensive mobility solutions are based on the Move About app, which gives the user access to the Company's pools of electric cars, bicycles and scooters. Move About also helps companies, municipalities and organizations optimize their fleets by tailoring mobility solutions to their needs. Move About was founded in Oslo, Norway, in 2007 and has approximately 70,000 users on its platform and over 800 electric cars in its vehicle fleet with a presence in Sweden, Norway and Germany.
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Move About in any jurisdiction, neither from Move About nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, South Korea, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
Within the European Economic Area, no offer is made to the public of securities in any country other than Sweden. In other Member States of the European Union, such an offer may only be made in accordance with the exceptions in the Prospectus Regulation (EU) 2017/1129.
This press release contains certain forward-looking information that reflects the Company's present view of future events as well as financial and operational development. Words such as "intend", "assess", "expect", "may", "plan", "believe", "estimate" and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.