NURMINEN LOGISTICS PLC STOCK EXCHANGE RELEASE 7 December 2020 at 5.15 pm
The Board of Directors of Nurminen Logistics Plc (the “Company”) has, based on the authorisation granted by the Extraordinary General Meeting held on 4 December 2020, today resolved to carry out a directed share issue of approximately EUR 9.3 million to certain domestic investors (the “Directed Offering”), some of whom are the Company’s existing shareholders and members of the Company’s Board of Directors (the “Investors”).
The proceeds from the Directed Offering will be used to finance the acquisition of a majority share in the real estate company that owns the terminal property in Vuosaari, Helsinki, from Ilmarinen Mutual Pension Insurance Company (the “Transaction”), as described in the stock exchange release published by the Company on 12 November 2020. As the Directed Offering can be considered as the best alternative for financing the Transaction, the successful execution of which best serves the Company’s benefit and purpose, which is also in the collective interest of all shareholders, there exists a weighty financial reason for deviating from the shareholders’ pre-emptive subscription rights.
In the Directed Offering, the Board of Directors resolved, in deviation from the pre-emptive subscription right of the shareholders, to issue a total maximum number of 30,000,000 new shares in the Company to the Investors. As announced on 12 November 2020, the Company has received subscription commitments from the Investors, based on which the Investors have irrevocably, under certain customary conditions, undertaken to subscribe for new shares worth in aggregate approximately EUR 9.3 million.
The subscription and payment period commences on 9 December 2020 and expires on 14 December 2020. The Board of Directors will resolve on the approval of the subscriptions by a separate resolution on or about 16 December 2020. The subscription price is EUR 0.31692 per share, which corresponds to the volume-weighted average trading price of the Company’s shares during the 180-day period that ended on 11 November 2020.
As announced on 12 November 2020, the Directed Offering and the Transaction are planned to be completed by 31 December 2020. The new shares issued in the Directed Offering would not be subject to trading on Nasdaq Helsinki until approximately March 2021.
Olli Pohjanvirta, Chair of the Board and CEO, Nurminen Logistics Plc, tel. +358 40 900 6977, firstname.lastname@example.org
Nasdaq Helsinki Ltd