In the successfully completed rights issues in Bong AB, members of the group management team have increased their investment in the company. In total, the management team members have acquired 965,977 new shares. Together with the shares already held, the management team now owns 1,467,377 shares, which is circa 1% of the total number of shares in the company. Several other employees have also increased their investment in Bong. Bong’s group controller has, for example, bought 100,000 shares during August 2013. Among Bong’s Directors of the Board, Christian W Jansson, Mikael Ekdahl and Ulrika Eriksson have all kept the same number of shares as they had before the new rights issue, in total 825,246 shares. Bong’s largest shareholder Holdham, represented in the Board of directors by Bong’s Chairman Stéphane Hamelin and Eric Joan, has through a setoff issue and participation in the new rights issue increased its holding by 48,518,662 shares to 52,850,282 shares. This represents circa 33.7% of the total number of shares in the company. Melker Schörling AB has acquired 15,301,356 new shares in the new rights issue and has thereby increased its holding to 19,126,695 shares. However, due to the increased number of shares through the setoff issues this means that the ownership goes down to circa 12.2%. The new rights issue and the setoff issues have in total increased Bong’s equity by SEK 275 million before transaction costs. Bong has also entered into a new long-term credit agreement with its two leading banks. The agreed credit facility amounts in total to SEK 590 million with a duration of between three and five years. In addition to its normal bank financing, Bong has issued a new five-year convertible loan of SEK 75 million. The total effect of all these actions is a substantial strengthening of Bong’s financial position and a solid platform for developing the business in a positive direction. For additional information, please contact Anders Davidsson, President and CEO of Bong AB. Telephone (switchboard) +46 (0)44 20 70 00, (direct) +46 (0)44 20 70 80, (mobile) +46 (0)70 545 70 80. Bong is a leading provider of specialised packaging and envelope products in Europe, offering solutions for distribution and packaging of information, advertising materials and lightweight goods. Important growth areas in the Group are the Propac packaging concept and Russia. The Group has annual sales of approximately SEK 3 billion and about 2.100 employees in 15 countries. Bong has strong market positions in the majority of key markets in Europe, and the Group sees interesting possibilities for continued expansion and development. Bong is a public limited company and its shares are listed on NASDAQ OMX Stockholm Small Cap.
Bong’s management investing more in the company
| Source: Bong AB