Scandinavian Biogas News

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2022-11-02 15:45

Scandinavian Biogas Fuels International AB (publ) announces extended payment period in ongoing directed share issue following Aneo’s customary notification to the Norwegian Competition Authority


Stockholm, 2 November 2022

The board of directors of Scandinavian Biogas Fuels International AB (publ) (the “Company” or ”Scandinavian Biogas”) has resolved to extend the payment period in the directed share issues which the board of directors resolved on 5 October 2022 and which was approved by the subsequent extraordinary general meeting on 27 October 2022. The new last day for payment is 25 November 2022.

The board of directors resolved on 5 October 2022 to carry out two directed share issues of a total of 13,045,000 shares at a subscription price of SEK 25 per share (together the “Directed Share Issue”). The Directed Share Issue was approved at an extraordinary general meeting held on 27 October 2022.

Aneo Renewables Holding AS (“Aneo”) subscribed for 12,000,000 shares in the Directed Share Issue. Aneo has informed the Company that they, because of this, must submit a customary notification to the Norwegian Competition Authority. Aneo has now submitted such notification and assesses that the Norwegian Competition Authority’s handling of the notification will be completed in the middle of November 2022. Due to this, Scandinavian Biogas has resolved to extend the last day for payment in the Directed Share Issue to 25 November 2022, after which the Directed Share Issue will be completed and registered with the Swedish Companies Registration Office. Aneo does not have any biogas or bio fertilizer businesses in Norway except for their holding in Scandinavian Biogas.

As previously communicated, Aneo’s participation in the Directed Share Issue will result in that its total shareholding will correspond to approximately 36.1 percent of the total number of shares and votes in Scandinavian Biogas. Aneo will therefore, in accordance with applicable takeover rules, be required to make a mandatory offer for all other shares in Scandinavian Biogas within four weeks from settlement of the Directed Share Issue, unless its shareholding is decreased so that it no longer corresponds to 30 percent or more of the votes. Aneo has previously informed that it, as a consequence of this, intends to announce a mandatory offer with an offer price of SEK 15.45, corresponding to the 20-business day volume weighted average price up to and including 5 October 2022, in accordance with applicable takeover rules.

For more information about the Directed Share Issue, please see the press release that Scandinavian Biogas published on 5 October 2022 on the Directed Share Issue, and to the report from the extraordinary general meeting on 27 October 2022, which was published on the same day. The press releases are available on Scandinavian Biogas’ website, www.scandianvianbiogas.com.

For further information, please contact:
Matti Vikkula CEO and President
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula(at)scandinavianbiogas.com

Scandinavian Biogas is a leading Nordic producer of biogas for vehicle fuel and fertilizer. Biogas is CO2-neutral and made from sewage and household, agriculture as well as industrial organic waste. Today Scandinavian Biogas has facilities in Sweden, Norway and Korea. In 2021, the company delivered 366 GWh of energy. Scandinavian Biogas has 100 employees and total net sales of SEK 394 million in 2021. The head office is located in Stockholm and the company is listed on Nasdaq First North. Certified advisor is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser(at)penser.se. www.scandinavianbiogas.com

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