Notification
A number of large Swedish and international institutional investors have today acquired in total 7,0 million shares in Adcore, corresponding to approx. 5,1% of the outstanding shares and votes of the company.
“ The demand for more free floating shares in Adcore has been increasing. It is gratifying to see that a number of large international and Swedish investors have shown strong interest in Adcore and have such confidence in the company’s future. ” says Göran Wågström CEO of the Adcore Group.
The sellers are some executives in Adcore. After the sales, the group still have considerable holdings in the company. They all have long terms perspective on their remaining holdings.
The vendors have had their shares in lock-up for a considerable time and have the intention of entering into a new lock-up period in connection with a planned application for a secondary listing on the Neuer Markt.
For some of the vendors, the selling is related to warrants in Adcore. At an extraordinary shareholder meeting on the 6th of June 2000 it was decided to allow pre-exercise ahead of the original terms.
“The sale will increase the free float and thereby the liquidity of the Adcore share, which has been strongly demanded, the acuteness which is accentuated in connection with a possible secondary listing” says Göran Wågström.
The Chairman of the Board, Christer Jacobsson reduces his holding and voting rights in the transaction from 10,6% to 6,4%. Christer Jacobsson remaining holding in Adcore amounts to approx. 8,9 million shares.
Stockholm the 12th September 2000
Adcore AB (publ)