Mekonomen publishes prospectus and preliminary information regarding the third quarter 2018
28 September 2018 15:30
The prospectus relating to Mekonomen Aktiebolag’s (publ) (“Mekonomen” or the “Company”) rights issue of approximately 1,621 MSEK has been approved and registered by the Swedish Financial Supervisory Authority. In order to provide the best possibilities for Mekonomen’s shareholders to make a fair assessment of the Company ahead of the rights issue, the prospectus contains certain preliminary information regarding the third quarter 2018 in accordance with the below.
Prospectus
The prospectus and application forms for subscription without preferential right can be obtained from Mekonomen and Nordea and are available at Mekomomen’s website, www.mekonomen.com, at Nordea’s website, www.nordea.se and at SEB’s website, www.sebgroup.com/prospectuses. Pre-printed issue statements and payment instructions will also be sent by mail to Mekonomen’s directly registered shareholders.
Preliminary information regarding the third quarter 2018
The prospectus that is made public today includes the following information regarding the current trading position that has not been made public before.
Excluding the recently acquired companies FTZ[1] and Inter-Team[2], sales are expected to be higher than the third quarter 2017 and EBIT, excluding items affecting comparability and acquisitions costs, is broadly in line with 2017 for the third quarter. FTZ and IT will be included from September in the Q3 2018 report.
Based on internal monthly reports for July and August 2018, Mekonomen management concludes that Mekonomen Group’s operational performance for the third quarter 2018 will be negatively affected by an unusually warm summer (resulting in more workshops being closed and also closed for a longer period than in 2017), currency effects and an increased number of own workshops.
The third quarter 2017 was positively affected by items affecting comparability and hence the third quarter 2018 will be negatively affected by comparison.
Financial and legal advisors
Mekonomen has in connection with the rights issue appointed Nordea Bank AB (publ) and Skandinaviska Enskilda Banken AB (publ) as financial advisors and Hannes Snellman Attorney Ltd has been engaged as legal advisor.
For further information, please contact:
Pehr Oscarson, President & CEO Mekonomen AB,
Tel +46 (0)8-464 00 00 E-mail: pehr.oscarson@mekonomengroup.com
Åsa Källenius, CFO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: asa.kallenius@mekonomengroup.com
Helena Effert, IRO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: helena.effert@mekonomengroup.com
| This information is such information that Mekonomen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.The information was submitted for publication through Pehr Oscarson, at 15.30 on 28 September 2018. This press release will be published in Swedish and English. The Swedish version represents the original version and has been translated into English. |
Mekonomen Group consists of the leading automotive spare-parts chains in the northern Europe; FTZ, Inter-team, MECA, Mekonomen och Sørensen og Balchen, with proprietary wholesale operations, over 450 stores and 3,300 workshops operating under the Group brands. We offer a wide and easily accessible range of inexpensive and innovative solutions and products for consumers and companies.
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Mekonomen. Any invitation to the persons concerned to subscribe for shares in Mekonomen will only be made through the prospectus which Mekonomen hereby announces publication of.
This press release may not be released, published or distributed, directly or indirectly, in or into Australia, Japan, Canada, the United States or any other jurisdiction where participation would require additional prospectuses, registration or measures besides those required by Swedish law. Nor may this press release be distributed in or into such countries or any other country or jurisdiction in which distribution requires such measures or otherwise would be in conflict with applicable regulations. Any failure to comply with the restrictions described may result in a violation of applicable securities regulations.
The subscription rights, paid subscribed shares and shares in Mekonomen have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or the securities legislation of any state or other jurisdiction in the United States and no subscription rights, paid subscribed shares or shares may be offered, subscribed for, exercised, pledged, sold, resold, granted, delivered or otherwise transferred, directly or indirectly, in or into the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States. There will be no public offering of such securities in the United States.
The securities referred to herein have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the rights issue or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.
This press release contains certain forward-looking information that reflects Mekonomen’s present view of future events as well as financial and operational development. Words such as “intend”, “assess”, “expect”, “may”, “plan”, “believe”, “estimate” and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.
Nordea Bank AB (publ) and Skandinaviska Enskilda Banken AB (publ) are financial advisors to Mekonomen AB (publ) and not to anyone else, in relation to the rights issue. Nordea and SEB are not responsible to anyone else but Mekonomen for advising in relation to the rights issue. Information in respect of the issue prospectus is rendered by Mekonomen.
[1] FTZ Autodele & Værktøj A/S (”FTZ”).
[2] INTER-TEAM Sp.z.o.o. (”Inter-Team”).