A total of 1,065,649 shares and the same number of free warrants are thus issued, which are issued without preferential rights for existing shareholders. The subscription price was set at SEK 12.00 per share. The outcome of the issue means that Bayn Europe can implement the plan with, in particular, increased marketing efforts and continued development of stevia-based recipes, as previously decided by the Board.
"It is gratifying that the issue of SEK 10 million could be carried out with oversubscription and that the great interest thus enables an additional directed issue of approximately SEK 2.8 million. We welcome the new shareholders who will be added in connection with the issue, which together with previous owners amount to just over 250. The listing process on First North at Nasdaq Stockholm will, on the basis of this share distribution, be able to proceed as planned with a preliminary first listing date of November 12, 2014", says Bayn Europe's CEO Lucy Dahlgren.
Through the new issue, including the basic issue supplemented with the increased space, the share capital in the company increases by approximately SEK 234 thousand and will subsequently amount to SEK 737,319.22. The number of shares after the new issue amounts to 3,351,451 and the Company will receive approximately SEK 12.8 million before issue costs. Minor deviations from the above may occur before the issue is finally registered with the Swedish Companies Registration Office.
Settlement notes have been sent to all subscribers with instructions for payment. Subscribers will, after payment of the issue proceeds, as soon as the issue has been registered, receive the shares and warrants delivered to the specified custody account or securities account. All subscribers will receive full allotment.
G&W Fondkommission has acted as Bayn Europe's financial advisor in the transaction. Delphi has assisted G&W with legal due diligence and Aktieinvest FK AB has acted as issuing agent.
For more information see www.bayn.se or contact
Claes Wenthzel, CFO, e-mail cw@bayn.se or
Lennart Holmström, Chairman of the Board, e-mail lh@bayn.se
About Bayn Europe AB
Bayn is an innovative company based in Stockholm, Sweden, specialized in natural and healthy solutions for sugar reduction with Stevia. Bayn's products are sold on the European market under the brand EUREBA®. Bayn works only with natural bulk ingredients in its Stevia applications to optimize taste, texture and cost for the benefit of health and the environment. Bayn focuses on scientific research and works in accordance with strict ethical and quality guidelines. For more information see www.bayn.se.