Approximately 88.38 per cent of the warrants in Savosolar Plc’s warrant plan 1-2019 used for subscription of shares

Savosolar Plc

Company Announcement, Insider information    12 December 2019 at 2.30 p.m. (CET)

Approximately 88.38 per cent of the warrants in Savosolar Plc’s warrant plan 1-2019 used for subscription of shares

Approximately 88.38 per cent of Savosolar Plc’s (“Savosolar” or the “Company”) warrants under warrant plan 1-2019 have been used for subscription of shares, raising EUR 2.27 million. The Company has additionally decided on a directed share issue of up to approximately EUR 1.25 million (the “Directed Issue”).

The subscription period based on Savosolar’s warrant plan 1-2019 ended on 9 December 2019. Based on the warrants, 311,558,850 new shares were subscribed for and the Company will receive approximately EUR 2.27 million in proceeds before transaction costs. Approximately 88.38 per cent of the warrants were used for subscription of shares.

As announced by the Company on 4 November 2019, the Company has secured approximately EUR 3.5 million in connection with the warrants through subscription commitments and underwriting agreements. Therefore, the Board of Directors has decided on the Directed Issue of up to 171,370,364 shares, which will raise additional proceeds of approximately EUR 1.25 million before transaction costs. The subscription price is SEK 0.077 per share, which is the same as the subscription price based on the warrants.

In accordance with the underwriting agreements for the Directed Issue, the investors are entitled to an underwriting fee equal to 8 per cent of the aggregate underwriting commitment if payable in cash by the Company or 10 per cent of the underwriting commitment if payable in shares of the Company. Each investor in the Directed Issue is entitled to choose between cash or share payment. Hence the Company will resolve on an additional directed share issue in case the investors are willing to receive their underwriting fee in shares of the Company.

The warrants which were not exercised under the warrant plan 1-2019 have lost their value and will be removed from the securities’ accounts of the warrant holders.

SAVOSOLAR PLC

For more information:

Savosolar Plc

Managing Director Jari Varjotie

Phone: 4

E-mail:

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 12 December 2019 at 2.30 p.m. (CET).



About Savosolar

Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH. .

The company’s Certified Adviser is Augment Partners AB, , phone:  172.