Digitalist Group Plc - Inside information

Tremoko Oy Ab converted Convertible Bond into shares of Digitalist Group Plc and partially waives interest receivables

Digitalist Group Plc          Stock Exchange Release          05 December 2017 at 19:00

 

On 4 April 2016, Digitalist Group Plc’s (“Digitalist Group” or “Company”) largest shareholder Tremoko Oy Ab (“Tremoko”) subscribed for the convertible bond (“Convertible Bond”) directed to Tremoko in accordance with the decision of Digitalist Group’s Annual General Meeting of 7 April 2016 in full, worth altogether EUR 9,200,000.95. According to the terms and conditions of the Convertible Loan (“Terms”), bonds 1-20 pertaining thereto (“Bonds”) can be converted into altogether 131,428,585 new shares of Digitalist Group (“Share”). The conversion rate set out in the Terms of the Convertible Bond is EUR 0.07 per Share and the conversion rate is fixed. Under the Terms, the Convertible Bond’s period of conversion begun on 8 April 2016 and will end on 8 April 2020.

On 5 December 2017, the Company received a request from Tremoko to convert the Convertible Bond in accordance with the Terms, in which Tremoko states that it will exercise its conversion option set out in the Terms and that it will convert the Bonds of the Convertible Bond, subscribed for by Tremoko Oy Ab and issued by Digitalist Group Plc against the subscription, the principal amount being altogether EUR 9,200,000.95, in full into altogether 131,428,585 new Shares of Digitalist Group Plc in accordance with the Terms.

On 5 December 2017, Digitalist Group’s Board of Directors accepted Tremoko’s request to convert the Bonds and decided to submit a notification of the Shares converted by Tremoko Oy Ab with the Bonds, altogether 131,428,585 pieces, for entry into the Trade Register and then for admission to trading in Nasdaq Helsinki Ltd.

The Shares represent approximately 23.73 per cent of Digitalist Group’s shares and votes after the Shares have been entered in the Trade Register. Tremoko’s portion of all of the shares and votes in the Company will be approximately 80.48 per cent after the Shares have been entered in the Trade Register. The Shares will entitle their holder to full dividends possibly distributed by Digitalist Group and to other distribution of assets as well as carry other shareholder rights in the Company starting from when the Shares have been entered in the Trade Register and the shareholders’ register of the Company.

On 5 December 2017, Tremoko also informed the Company that it has decided to, for no consideration, waive all of its interest receivables arising from the Convertible Bond outstanding on 5 December 2017 from Digitalist Group Plc, altogether EUR 201,643.86. The waiver will enter into force on 5 December 2017.

 

DIGITALIST GROUP PLC

Board of Directors

For more information, please contact:

Digitalist Group Plc

CEO Ville Tolvanen, tel. +358 50 3100 642, ville.tolvanen@digitalistgroup.com

CFO Hans Parvikoski, tel. +358 40 586 6154, hans.parvikoski@digitalistgroup.com

 

 

Attachments:

Stockrelease_FI_20171205_EN.pdf