Bayn has moved from being a supplier of sugar substitutes to developing and delivering end-to-end solutions to the global food industry to reduce sugar in their products. Through Bayn, they are able to reduce sugar in food and beverages while meeting consumer needs and expectations for taste experience. Bayn works directly with a number of major food manufacturers and with Barentz, a leading supplier and distributor of ingredients to the food industry, supplying customers in more than 50 countries. The present rights issue is carried out in order to be able to increase sales efforts and strengthen working capital for the upcoming expansion of the company's operations.
Conditions föfor the new issue
- The right to subscribe is primarily granted to the company's shareholders, who receive one unit right for each share.
- For each (1) existing share, one (1) unit right is received. Two (2) unit rights are required to subscribe for one (1) unit.
- Each unit consists of one (1) share and one (1) warrant. One (1) warrant entitles the holder to subscribe for one (1) new share in Bayn Europe AB.
- The issue price is SEK 3.48 per share.
- The rights issue comprises a maximum of 1,894,458 units, which means 1,894,458 directly new shares and warrants that enable subscription of an additional 1,894,458 shares during the period November 14 - November 28, 2016.
Timetable föfor the new issue
- The last day of trading in the share including unit rights is April 29, 2016.
- The first day of trading in the share excluding unit rights is May 2, 2016.
- The record date is May 3, 2016.
- Subscription with preferential rights is made by payment no later than May 24, 2016.
- Subscription without preferential rights can take place during the same period.
- Trading in unit rights will take place on First North during the period May 9 - May 20, 2016.
- Trading in paid subscribed units, BTU, will take place on First North from May 9, 2016 until the Swedish Companies Registration Office has registered the issue, which is expected to take place in early June 2016.
Terms of the warrant
Each warrant entitles the holder to subscribe for one (1) new share in the Company at a subscription price per share corresponding to eighty (80) percent of a volume-weighted average of the market price of the Company's share during the period October 24, 2016 to November 4, 2016. However, the subscription price is limited to a maximum of SEK 6 per share. With reference to applicable legislation, the subscription price may not be less than the quota value of the share at the time of subscription. Subscription of shares by virtue of the warrants shall be made in accordance with the terms and conditions of the warrants during the period November 14 - November 28, 2016.
Other information
- After the issue of an additional 1,894,458 shares in this new share issue, the share capital amounts to SEK 1,250,342.28.
- If all warrants are subscribed, the share capital will increase by an additional SEK 416,780.76 to SEK 1,667,123.04.
- The new issue will add a maximum of 1 894 458 shares. The total number of shares will then amount to 5,683,374 shares, which corresponds to an increase in the number of shares by 50 percent. For those shareholders who refrain from subscribing in the issue, there will be a dilution corresponding to 33.3 percent.
- If all the warrants are exercised for shares, an additional 1,894,458 shares will be added in November 2016, increasing the number of shares to 7,577,832, which is an additional 33.3% increase. For those shareholders who do not have any warrants, there is a dilution effect corresponding to 25%.
The complete issue memorandum and application forms will be published on May 9, 2016 on the Company's website www.bayn.se and on Aktieinvest's website www.aktieinvest.se before the subscription period starts. For more information, please contact Lucy Dahlgren, CEO, Bayn Europe AB, e-mail ld@bayn.se
About Bayn Europe AB
Bayn is a knowledge-driven company that helps food producers around the world meet market demands for a healthier world. Bayn's solutions reduce sugar in products and create new, naturally sweetened, low-calorie products. Our natural solutions, developed through scientific research, provide innovative, healthy recipes in close collaboration with our customers in the global food industry.
Bayn is listed on Nasdaq Stockholm, First North, under the ticker BAYN.
Mangold Fondkommission AB is the company's certified adviser. Telephone +46-8-5030 1550.
For more information, see www.bayn.se
