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HANZA calls for Extra General Meeting for the approval of a directed share issue

Publish date: 2015-05-20

HANZA calls for Extra General Meeting to approve a private placement to a group of investors who bring expertise in customer perspective, acquisitions and financing. Broadened ownership strengthens HANZA for the planned development, which includes improved profitability, further capitalization and acquisitions.

HANZA Holding AB (publ), listed on Nasdaq First North, call today for an extra general meeting to approve the Board of Director's decision of a directed share issue of MSEK 13.0, corresponding to an ownership of approximately 15.2%. Buyer of the shares is an investment group led by Francesco Franze, Håkan Halén and Per Holmberg.

Francesco has extensive experience from HANZAs customer markets and is a member of the Group Management of the company Husqvarna. Håkan has expertise in the acquisition and financing area and is recently retired from the post of Executive Vice President and CFO of Hexagon. Per has experience from product development and acquisitions and is the CEO of Hexagon Metrology EMEA, a company that develops metrology products with headquarters in UK. Francesco and Hakan has been proposed as Board Member and Alternate Board Member.

"Broadening the ownership contributes to creating value for all shareholders," says Per Tjernberg, Chairman HANZA. "It should be put in context  with the previously announced need for a capital injection and that the Board has developed a business plan that provides a significant development of HANZA. Through a lead investor with Board representation, we can ensure an implementation that is optimal for all shareholders."

In 2014 HANZA was negatively affected due to a volumes drop from some of the Group's major customers. No orders were lost, however, and the return of customer volumes, combined with a good new sales, has resulted in that the company now has an all-time-high order backlog. Furtermore, through increased sales and through an extensive efficiency program launched last year, profitability improved significantly this year. HANZA has also launched a new product, MIG, which streamlines customers' manufacturing chain and are expected to further increase sales.

"We are particularly pleased by the fact that our business model has attracted the attention of investors with a good knowledge of product development and outsourced manufacturing ," said Erik Stenfors, CEO HANZA. " It creates a shared platform, which is important for the further development of HANZA that we are planning.

After a 2014, characterized by volume declines, but also of the IPO and completion of MIGTM, HANZA intends to continue to develop the Group. In addition to the ongoing efficiency programs, significant additional cost synergies are to be expected from strategic acquisitions. Today HANZA has concrete M&A discussions ongoing, which are to be finalized and funded in dialogue with the new investor group.

"We have followed HANZA for some time and believe that the company's market position gives great opportunities for the future. Hence, we look forward to become the major owner of HANZA. We will analyze the opportunities and contribute to their implementation in the best way. ", Says Francesco Franze a proposed as new Board member representing the new investment group.

The issue is made at a rate of 9.5 SEK / share, corresponding to an average closing price of the Company's shares over the last 30 days and with a market discount. The directed issue brings HANZA 13 million SEK before transactions costs, which strengthens the Group's financial position. Existing owners representing about 30% have declared that they support the Board's decision to broaden the ownership. The company intends to present a business plan for further capitalization and acquisitions rather soon after the EGM is executed.

For more information please contact: 
Per Tjernberg, Chairman of the board HANZA, Phone: +46 70 344 73 70, email: per.tjernberg@kullsvik.com
Erik Stenfors, CEO, Phone: +46 8 624 62 00, email: erik.stenfors@hanza.com

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The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 16.00 pm (CET), May 20, 2015. Erik Penser Bankaktiebolag is the company's certified adviser. 

Important information
This press release may contain certain forward-looking statements that reflect HANZA’s current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.

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HANZA is a fast growing industrial business partner within manufacturing. The company offers a unique combination of advisory services and tailormade manufacturing solutions that increases growth and profitability for its customers. HANZA was founded in 2008 and has grown into a billion SEK company. The Company currently operates in Sweden, Finland, Estonia, Poland, Czech Republic and China. Among HANZA’s clients there are leading industrial companies such as Kone, Konecranes, Atlas Copco, ABB and Saab Defense.

PRESS CONTACT

Thomas Lindström

Senior Vice President
Head of Business Solutions
+46 702983939
thomas.lindstrom@hanza.com

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