Simris Alg conducts directed share issue

The Board of Directors of Simris ALG AB (publ) (”Simris” or the ”Company”) has today, with the support of authorization from the Annual General Meeting of 25 May 2022, resolved on a directed issue of 3,932,246 shares of series B in connection with the previously communicated and completed acquisition of Cyano Biotech GmbH. Payment will be made through set-off as part payment of the shares in Cyano Biotech GmbH.

The reasons for the issue and the reason for the deviation from the shareholders’ preferential rights are that the Company, in accordance with the press release published on 25 August 2022, has acquired Cyano Biotech GmbH. The Company has agreed to issue shares in Simris to the sellers as part payment for the shares in Cyano Biotech GmbH.

The subscription price has been set in accordance with the sale and purchase agreement at SEK 0.31635 per share. The basis for the subscription price is the volume-weighted average price of Simris’ share on Nasdaq First North Growth Market during the period 19 August 2022 up to and including 25 August 2022.

The share issue is directed to the sellers Dan Enke and Heike Enke, whereby both receive half of the issued shares. Payment is made by means offsetting.

The share issue entails that the total number of shares and votes in the Company increases by 3,932,246 shares of series B and votes, from 176,370,274 shares and votes to 180,302,520 shares and votes. The share capital increases by circa SEK 341,615.17 from circa SEK 15,322,225.78 to circa SEK 15,663,840.94.

For more information contact:
Julian Read
CEO Simris Alg AB
Email: [email protected]
Phone: +46767888212

www.simrisalg.se

ABOUT SIMRIS ALG AB (PUBL):
Simris Alg is a biotechnology company identifying high value, natural, biologically active compounds found in microalgae and cyanobacteria to extract for applications in skincare, nutrition, and biopharmaceuticals. The company sustainably grows microalgae and cyanobacteria at industrial scale within its photobioreactor facility whereby conditions are optimized for production of these high-value compounds.

Simris Alg’s shares are traded on the Nasdaq First North Growth Market with the short name SIMRIS and ISIN code SE0008091664. Certified Adviser is Amudova AB, telephone: 08-546 017 58, email: [email protected]

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