Subscription of XANO Industri AB convertible bonds 2024/2027 completed

On 16 May 2024, the Annual General Meeting of XANO Industri AB resolved to approve the Board of Directors' proposal to issue a maximum of 400,000 convertible bonds corresponding to a maximum nominal value of SEK 35 million, with a maturity from 1 October 2024 to 30 September 2027.

With deviation from the shareholders' preferential rights, the right to subscribe for convertible bonds was only granted persons who are employed or otherwise engaged on a permanent basis by XANO Industri AB (publ) and its subsidiaries. Permanent employees also include persons who have entered into an agreement on future permanent employment by the end of the subscription period.

Registration for subscription was made during the period 22–30 August 2024. The convertible bond programme generated great interest and the issue was oversubscribed by approx. 25 per cent. Employees within the XANO Group have been allotted 330,180 convertible bonds at a price of SEK 106, corresponding to a total nominal value of SEK 34,999,080. The interest rate on the convertible bond amounts to STIBOR 3M plus 2.00 percentage points and is paid annually in arrears. 

Each convertible bond can be converted into one Class B share in XANO Industri AB during the period 1–12 September 2027. If all convertible bonds are converted into shares, the dilution will be approx. 0.6 per cent of the share capital and approx. 0.2 per cent of the voting rights based on the current total number of shares.