Today, 2019-04-16, Ayima Group AB (publ) (“Ayima” or “the Company”) held an Extraordinary General Meeting (“EGM”). The EGM resolved unanimously in accordance with the board’s proposal regarding a rights issue during spring 2019.
The EGM resolved, according to the board’s proposition, on the resolution on issue of shares of series B and warrants (“Units”) with pre-emption rights for existing shareholders.
“With the current growth, momentum and said restructuring process, we expect that Ayima will show a positive result in the second quarter of 2019 and expects continued good development thereafter. The planned rights issue of around 13.6 MSEK aims to strengthen our balance sheet, enable potential acquisitions and invest in our future growth to capitalize on the strong underlying market development”, Mike Jacobson, CEO at Ayima.
The Rights Issue
The Board of Directors in Ayima has, with the approval from the extra general meeting on the 16 April 2019, resolved to issue units, consisting of shares and warrants, in accordance with the following terms:
- All existing shareholders receive one (1) unit right for each share of series B held on the record date. Six (6) unit rights entitle to subscription of one (1) Unit.
- One (1) unit consists of one (1) newly issued share of series B and one (1) warrant of series TO1. The Rights Issue thus issues a maximum of 5,819,662 unit rights, corresponding to 969,943 new shares of series B and 969,943 warrants. The subscription price of 14 SEK per unit correspondes to a subscription price of 14 SEK per share; the warrant is issued free of charge.
- At full subscription of the Rights Issue Ayima receives issue proceeds of approximately 13.6 MSEK before issuing costs. As a result, the share capital may increase from 969,943.00 SEK, from 6,046,462 SEK to 7,016,405 SEK. At full subscription of the Rights Issue the number of shares will increase from 6,046,462 shares to 7,016,405 shares, representing an increase of 969,943 shares.
- For existing shareholders who choose not to participate in the Rights Issue, assuming that the Rights Issue is fully subscribed, will experience a dilution amounting to 13.8 percent. Assuming full exercise of the warrants, shareholders will experience an additional dilution of 6.5 percent. For existing shareholders who choose not to participate in the Rights Issue or the exercise of the warrants, shareholders will experience a dilution of 19.4 percent.
- The subscription period will be from 30 April 2019 until the 15 May 2019.
- Two (2) warrants entitle the holder to subscribe for one (1) new share of series B, during the subscription period from 2 December 2019 until 13 December 2019, at a subscription price of 18 SEK per share. At full subscription and full exercise of the warrants, Ayima can receive ca 8.7 MSEK before issuing costs. As a result, the share capital may increase with 484,971 SEK, from 7,016,405.00 SEK to 7,501,376.00 SEK.
For further Information:
CEO Michael Jacobson
+44-20 7148 5974
Originally founded in 2007, Ayima is a digital marketing agency with around 150 employees across its offices in London, New York, San Francisco,Stockholm and Vancouver. Ayima have created a number of market-leading software tools that are used in by clients and agencies around the world, including ‘Updatable’, ‘Redirect Path’, ‘Page Insights’, ‘Pulse’ and ‘Appotate’.
Find more information: https://ayima.com/investors
This information is required for Ayima Group AB (publ) to disclose under the EU market abuse regulation. The information was submitted by the abovementioned contact person for publication on April 16, 2019 at 17:30 CET.