Directed share issue in Bure of 1,000 MSEK

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, ISRAEL, JAPAN, NEW ZEALAND, SOUTH AFRICA, SWITZERLAND OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR OTHER MEASURES.

Bure Equity AB (publ), (“Bure Equity” or the “Company”) (Nasdaq Stockholm: BURE) hereby announces that the Company has completed the bookbuilding procedure in the directed share issue which was communicated in a press release on 10 June 2020, and which will raise 1,000 MSEK in gross proceeds (the “Directed Share Issue”).

The subscription price in the Directed Share Issue has been determined to SEK 193 per share by way of an accelerated bookbuilding procedure. The subscription price corresponds to 100 per cent of estimated NAV per share based on closing prices per 10 June 2020. During the last 20 trading days per 10 June 2020, Bure’s share price has on average corresponded to 100 per cent of estimated NAV[1].
A number of Swedish institutional investors, including Ramsbury Invest, AP4, SEB-stiftelsen, Formica Capital and Lottie Tham and family, participate in the Directed Share Issue, which in total amount to 5,175,000 shares.

The background of the Directed Share Issue is that Bure sees good opportunities to expand its business through investments in both existing and new holdings, which is expected to benefit all shareholders. In addition, the Directed Share Issue will, in a timely and cost-effective manner, diversify and strengthen the shareholder base with well-established investors.

By establishing the subscription price in the Directed Share Issue through an accelerated bookbuilding procedure, it is the assessment of the board of directors that the subscription price accurately reflects current market conditions and demand.

Consummation of the Directed Share Issue is, among other things, subject to adoption of the proposed share issue authorisation by the annual general meeting today, on 11 June 2020, and a final resolution on the Directed Share Issue by the board of directors based on the authorisation.

“We are very pleased that such established and well-respected investors have chosen to participate in the directed share issue. My ambition is to continuously develop Bure’s business and portfolio companies and thereby create value for the shareholders. Further capital better enables Bure to invest in both the existing portfolio and in new companies”, comments Henrik Blomquist, CEO of Bure.

“The outcome of the directed share issue is a testimony of Bure’s long-term ownership philosophy and ability to create sustainable values over time”, comments Patrik Tigerschiöld, Chairman of Bure.

Through the Directed Share Issue, the Company’s share capital will increase by SEK 40,180,204 from SEK 535,518,034 to SEK 575,698,238 by new issue of 5,175,000 ordinary shares, resulting in the total number of shares increasing from 68,971,921 shares to 74,146,921 shares. The Directed Share Issue will result in a dilution of 7.0 per cent of the capital and 7.0 per cent of the votes for existing shareholders based on the total number of shares and votes in the Company after the Directed Share Issue. It is expected that investors in the Directed Share Issue will be delivered their shares around 22 June 2020.

Skandinaviska Enskilda Banken AB has been Sole Bookrunner in the Directed Share Issue and Kanter Advokatbyrå KB has been legal adviser to Bure.

The Tigerschiöld and Björkman families have confirmed their intentions to remain as long-term owners in Bure.

For more information, contact:

Henrik Blomquist, CEO
henrik.blomquist@bure.se
Telephone: +46 (0) 70 824 44 74

EU Market Abuse Regulation

This information is such information as Bure Equity AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST on 11 June 2020.

Important information

Publication, distribution or release of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction, neither from Bure nor from anyone else.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the Directed Share Issue must be made on the basis of all publicly available information relating to the Company and the Company’s shares. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

This announcement does not constitute a recommendation concerning any investor’s option with respect to the Directed Share Issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be published, distributed or released, directly or indirectly, in whole or in part, within or into the United States of America, Australia, Canada, Hong Kong, Israel, Japan, New Zeeland, South Africa, Switzerland or in any other jurisdiction where such publication, distribution or release of the information would not comply with applicable laws and regulations or would require prospectuses, registration or any other measures than those required by Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

This press release is not a prospectus for the purposes of Regulation 2017/1129 of the European parliament and of the council (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. Bure has not authorised any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the Directed Share Issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.

This press release is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This press release must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this press release must satisfy themselves that it is lawful to do so.

This press release may contain forward-looking statements which reflect Bure’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

[1] Bure’s estimated NAV is based on public information and calculated by (i) multiplying the Company’s listed shareholdings with the respective companies’ closing prices, (ii) adding the unlisted holdings from the Company’s latest interim report, (iii) adding the cash position from the Company’s latest interim report and (iv) adjusting for acquisitions of shares after the end of the period for the latest interim report (see separate press releases for acquisitions of shares in Mentice 9 April 2020 and Cavotec 11 May 2020).

Bure intends to carry out a directed share issue of 800 – 1,000 MSEK

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, ISRAEL, JAPAN, NEW ZEALAND, SOUTH AFRICA, SWITZERLAND OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR OTHER MEASURES.

Bure Equity AB (publ), (“Bure” or the “Company”) (Nasdaq Stockholm: BURE) sees good opportunities to expand its business through investments in both existing and new holdings as well as to further strengthen the shareholder base. In light of this, Bure intends to carry out a directed share issue to Swedish and international institutional investors (the “Directed Share Issue”). Bure has retained SEB Corporate Finance, Skandinaviska Enskilda Banken AB (“SEB”) to act as Sole Bookrunner (the “Sole Bookrunner”) in connection with the Directed Share Issue.

“Bure has a long history of developing successful companies, which has led to an increasing number of new investments opportunities. The directed share issue enables us, in a time and cost-effective manner, to act on more opportunities, accelerate Bure´s growth and thereby create value for all shareholders”, comments Henrik Blomquist, CEO of Bure.

Consummation of the Directed Share Issue is, among other things, subject to adoption of the proposed share issue authorisation by the annual general meeting on 11 June 2020 and a final resolution on the Directed Share Issue by the board of directors based on the authorisation.

The subscription price and the total number of new shares in the Directed Share Issue will be determined by way of an accelerated bookbuilding procedure (the “Bookbuilding”). By establishing the subscription price in the Directed Share Issue through an accelerated bookbuilding procedure, it is the assessment of the board of directors that the subscription price will accurately reflect current market conditions and demand. It is intended that 800-1,000 MSEK in gross proceeds will be raised from the Directed Share Issue.

The Bookbuilding will start immediately following this announcement. Pricing and intended allocation of the new shares in the Directed Share Issue is expected to take place before beginning of trading on Nasdaq Stockholm at 09:00 CEST on 11 June 2020. The exact timing of closing of the Bookbuilding, pricing and allocation is at the discretion of the Company and the Sole Bookrunner. Bure will announce the outcome of the Directed Share Issue immediately after closing of the Bookbuilding in a subsequent press release.

The Tigerschiöld and Björkman families have confirmed their intentions to remain as long-term shareholders in the Company.

For more information, contact:

Henrik Blomquist, CEO
henrik.blomquist@bure.se
Telephone: +46 (0)70 824 44 74

EU Market Abuse Regulation

This information is such information as Bure Equity AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 17:31 CEST on 10 June 2020.

Important information

Publication, distribution or release of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction, neither from Bure nor from anyone else.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the new shares. Any investment decision in connection with the Directed Share Issue must be made on the basis of all publicly available information relating to the Company and the Company’s shares. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.

This announcement does not constitute a recommendation concerning any investor’s option with respect to the Directed Share Issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be published, distributed or released, directly or indirectly, in whole or in part, within or into the United States of America, Australia, Canada, Hong Kong, Israel, Japan, New Zeeland, South Africa, Switzerland or in any other jurisdiction where such publication, distribution or release of the information would not comply with applicable laws and regulations or would require prospectuses, registration or any other measures than those required by Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

This press release is not a prospectus for the purposes of Regulation 2017/1129 of the European parliament and of the council (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. Bure has not authorised any offer to the public of shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the Directed Share Issue. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.

This press release is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This press release must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this press release must satisfy themselves that it is lawful to do so.

This press release may contain forward-looking statements which reflect Bure’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.