"We are very happy about the trust that we have received from the small group of financially strong external investors that are participating in the directed share issue. The issue ensures not only funds for increased long-term sales efforts, but it also provides AVTECH with flexibility and improved conditions to be able to achieve our full potential as soon as possible. We look forward to an exciting journey together with our old and new owners”, says Christer Staaf, CEO and member of Board of AVTECH.
The issue is implemented with the support of the authorization that the Board received at the Extra General Assembly on August 16 2013, and involves a dilution of shares of approximately 11,1 percent. The issue increases the number of B-shares in AVTECH with 5 625 000 from 35 830 609 B-shares to 41 455 609 B-shares. The total number of A-, B-, and preference shares are consequently increased from 44 862 720 shares to 50 487 720 shares and share capital is increased by approximately 560 738 SEK from approximately 4 472 219 SEK to approximately 5 032 957 SEK.
The purpose of the issue is primarily to strengthen company Sales as well as IT-resources to facilitate fast implementation of expected volume-customers.
Mangold Fondkommission AB has acted financial advisor, and Baker & McKenzie Advokatbyrå KB has acted legal advisor to AVTECH in connection to the directed share issue.
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. The head office is in Stockholm, Sweden with a subsidiary in Toulouse, France and an associated company in Dubai, U.A.E. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Mangold Fondkommission AB, phone +46 8 503 01 550, as Certified Adviser.
For more information, please contact
Christer Staaf, CEO, +46 (0) 8 544 104 80
Jonas Saric, CFO, +46 (0) 8 544 104 80