Change in Controlling Shareholder and Secured New Share Issuance at Generic
November 6, 2009
Change in Ownership at
Hans Krantz and Fredrik Svedberg have today, through Krantz Svedberg Förvaltning AB, acquired 2,838,015 shares in Generic, representing 41.6 percent of the share capital and voting rights. Hans Krantz and Fredrik Svedberg did not previously own any shares in Generic. The sellers are the founders Peder Swenman, Hans Nilsson, Arne Lindberg, and Jan Lund-Jensen, who are selling portions of their holdings and thus remain shareholders in the company, as well as another of the company’s major shareholders who is selling their entire holding. For detailed information regarding the changes in ownership, see “Insider Trading” on Generic’s website, www.generic.se. Since Generic is listed on First North, no public offer will be made to Generic’s shareholders.
A Brief Profile of the New Owners
Hans Krantz holds a degree in business administration and has spent the past ten years working as an active owner and board member at various software companies. Hans is currently the chairman of the board at LogTrade BarLink AB and has served as an advisor to some of Sweden’s largest institutional investors regarding investments in the technology sector. Fredrik Svedberg is one of the founders of EdiCom International AB and served as its CEO from 1990 to 1998. Since 2001, Fredrik has worked as an active owner and board member in the software sector and is currently CEO of LogTrade BarLink AB.
Rights Offering 100 Percent Secured Through Subscription Commitments and Guarantees
On November 5, 2009, Generic announced that the Board of Directors had decided to propose a new share issue of SEK 10.1 million with preferential rights for existing shareholders. The proposal is conditional upon the offering being fully covered by subscription commitments and guarantees. This condition has now been met, as Generic has received subscription commitments from certain existing shareholders, corresponding to 48.6 percent of the total offering amount, and by Krantz Svedberg Förvaltning AB, which, in addition to the subscription commitments already entered into, has undertaken to guarantee the remainder of the issue proceeds, corresponding to 51.4 percent of the total issue amount. The issue amount is thus 100 percent secured through subscription commitments and issue guarantees. However, the transaction is subject to approval at an extraordinary general meeting on November 23, 2009.