Scandinavian Biogas publishes timetable for reverse split of shares
At the Extraordinary General Meeting in Scandinavian Biogas Fuels International AB (publ) on 23 November 2020, it was resolved on a reverse split of the company's shares 1:10, in which ten (10) shares shall be combined as one (1) share. The Extraordinary General Meeting authorized the Board of Directors to determine the record date for the reverse split. The Board of Directors of the company has today, under the authorization, resolved that the record date for the reverse split shall be 30 November 2020.
Timetable for reverse split:
|30 November 2020||Record date for reverse split.|
|1 December 2020||Reverse split is completed.|
Shareholders do not need to take any action to participate in the reverse split. As a result of the reverse split, Scandinavian Biogas’ share will change ISIN code. As of 1 December 2020, the share will have its new ISIN code SE0015242896.
If the shareholding of a shareholder does not correspond to a full number of new shares, Bengtssons Tidnings Aktiebolag and AC Cleantech Growth Fund 1 Holding AB (the “Guarantors”) will without charge transfer to the shareholder the number of shares (1 - 9 shares) required for the shareholder’s holding to be evenly divisible by ten (10), after adding the supplemental shares provided by the Guarantors; i.e. rounding up. Provision of such supplemental shares is carried out through the agency of Euroclear Sweden AB, without the need for further action by the shareholders.
After the reverse split, the number of shares in the company will amount to 20,538,968 shares, which means a quota value of approximately SEK 2 per share.
For more information, please contact:
CEO Scandinavian Biogas
+46 (0) 70-597 99 38
Briefly about the Company:
Scandinavian Biogas is today one of the Nordic region's largest private producers of biogas as
vehicle fuel. The company also operates a production facility for pre-treatment of food waste
and industrial organic waste, as well as a raw biogas plant in South Korea and
a plant for the production of liquefied biogas in Norway.