Nordstjernan has requested conversion of Class A shares to Class B shares as part of the preparations for a separate listing of Momentum Group
As part of the preparations for a separate listing of Momentum Group AB, which comprises the business area Components & Services in Alligo AB (publ) (“Alligo” or the “Company”), Nordstjernan AB (“Nordstjernan”) has today requested conversion of 498,363 Class A shares in Alligo into corresponding number of Class B shares. The conversion is carried out in accordance with the conversion clause in Alligo’s articles of association.
The separate listing of Momentum Group AB intends to be conducted through a distribution of all Alligo’s shares in Momentum Group AB. The distribution of shares in Momentum Group AB intends to be made in accordance with the so-called Lex Asea rules, whereby one of the conditions for the Lex Asea rules to be applicable is that Alligo is not part of the same group as Nordstjernan at the time of the distribution of the shares in Momentum Group AB. Consequently, Nordstjernan may not hold more than 50 per cent of the voting rights in Alligo since Alligo would then be a subsidiary of Nordstjernan and thus in the same group.
The conversion will be submitted for registration with the Swedish Companies Registration Office (Sw. Bolagsverket) and is completed when the new number of Class A shares and Class B shares, respectively, have been recorded in the Company’s share register held by Euroclear Sweden AB after the registration has been completed. After the conversion, Nordstjernan will hold 213 Class A shares and 27,776,641 Class B shares, corresponding to 55.02 per cent of the shares and 49.99 per cent of the votes in Alligo.[1]
For further information, please contact:
Clein Ullenvik, CEO & President
Tel +46 8 712 00 00
clein.ullenvik@alligo.com
Alligo AB is a leading reseller of industrial consumables and components, services and maintenance to professional end users in the industrial, construction and public sectors in the Nordic region. The Group has annual revenue of approximately SEK 9.5 billion and some 2,700 employees. Alligo AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.alligo.com.
[1] Calculated on the number of shares and votes in Alligo excluding 425,300 B-shares repurchased by Alligo.