Information regarding sale of shares from the founders and members of the Board of Directors to selected institutional investors.
Due to considerable institutional investor interest in Nexam Chemical shares all founders and members of the Board of Directors have jointly taken a decision to increase the diversification of ownership.
Founders and members of the Board of Directors have therefore sold a total of over 3.1 million of its shares, which on average equals 25% of each individual’s shareholdings, to selected institutional investors in an accelerated book building process undertaken after the market close on 15 July 2014. The transactions will be reported on the insider list found on Nexam Chemical’s website.
That several large and reputable institutional investors are entering as shareholders is considered to create even more favorable conditions for both the company’s and the share’s future development.
Before the sale the founders and members of the Board of Directors owned approximately 12.5 million shares (24% of the total outstanding shares), following the sale these will collectively own 9.4 million shares (18% of the total outstanding shares).
All the founders and members of the Board of Directors that now sold shares have entered into an agreement (lock-up) with ABG Sundal Collier AB not to sell additional shares in Nexam Chemical during the coming 12 months and intend to remain as long-term owners in Nexam Chemical.