The board of directors of GWS Production AB ("GWS") has today resolved to propose that an extraordinary general meeting to be held on 17 October 2018 resolves to issue up to 6,637,168 new shares in GWS to Adma Förvaltnings AB, a company controlled by Greg Dingizian, at a subscription price of SEK 2.26 per share.
GWS has today entered into an investment agreement with Adma Förvaltnings AB, a company controlled by Greg Dingizian, pursuant to which Adma Förvaltnings AB has undertaken to subscribe for 6,637,168 new shares in GWS, subject to the resolution to issue new shares by an extraordinary general meeting to be held on 17 October 2018.
The subscription price for each new share has been set to SEK 2.26 share. The subscription price has been established following negotiations with investor subscriber. The subscription price corresponds to a discount of 10 per cent compared to the volume weighted average share price for the company's shares during the 10 trading days prior to date of the proposal and according to the board of directors' assessment the subscription price is on market term under current industry and marked conditions.
GWS will use the proceeds from the new share issue to expand sales, marketing and development of the company's outstanding technical solutions for employee safety.
Greg Dingizian is a successful entrepreneur within real estate. Greg's latest real estate company was the Malmö-based property company Victoria Park which was subject to a public take-over bid earlier this year.
"GWS is a very interesting company with a great potential, meeting the growing demand for security for entire organizations and companies", comments Greg Dingizian.
"Having a successful entrepreneur as Greg to invest in our company is a great privilege and shows the strength and value of GWS.", comments Andreas Rodman, CEO, GWS.
"The board and I are convinced that it is positive for GWS and its shareholders to get Greg Dingizian as shareholder. Greg will extend our contact network and create new opportunities for GWS. This will create added value for the company and for all shareholders. I am looking forward to working again with Greg", comments Semmy Rülf, chairman of the board, GWS.
The reason for deviating from the shareholders' preferential rights is to broaden the shareholder base through adding a new major owner of strategic importance and that a directed share issue means lower costs and a faster process which altogether and with sufficient strength indicate that it is in the company's and the shareholders' interest that the issue is made with deviation from the shareholders' preferential rights.
The number of shares and votes in GWS will be increased with 6,637,168 from 16,556,569 to 23,193,737. The shares issued in the placement correspond to approximately 28.6 per cent of the share capital and votes in GWS following the new issue. Payment of the shares issued shall occur no later than the fifth business day following the extraordinary general meeting and be made in cash. The board of directors of GWS retains the right to extend the payment period at its discretion. A notice to the extraordinary general meeting will be issued via a separate press release.
For further information, please contact GWS CEO Andreas Rodman: + 46 (0)708- 10 13 16 andreas.rodman@globalwarningsystem.com
About GWS Production AB and Safeture
GWS, Global Warning System, was founded in 2009, triggered by the experience with a global SARS epidemic, the 2004 Indian Ocean tsunami and the Mumbai terror attacks. The company offers a travel security platform: Safeture. A travel risk management for corporate security teams and business travelers in order to protect the traveler by real-time tracking and providing valuable real-time information about disasters and other threats that could impact on the traveler. Safeture is the new way to take control of employee safety with a state-of-the-art technology. The GWS share is listed on NASDAQ First North Stockholm. Erik Penser Bank AB is the Certified Advisor.
This information is information that GWS Production AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, 15.50 on 28 September 2018.
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