HANZA refinances and broadens ownership

November 27, 2015

HANZA refinances credit agreements through convertible loans and the sale of company-owned shares.

HANZA Holding AB (publ) have a convertible loan of SEK 10 million and shareholder loan of about SEK 12 million with term on 31 December 2015, as have been described in the Company’s reports. The majority of these loans are now refinanced by that the Company will take up a new convertible loan of SEK 15 million with maturity on 31 December 2017 and sell 437,630 shares in HANZA that are owned by the subsidiary HANZA Tvärbyssan AB. The purchase price is SEK 8 per share, which corresponds to a total of about SEK 3.5 million.

Subscribers of the convertible loan and the buyer of the shares are Gerald Engström, both privately and through the company Färna Invest AB, controlled by Gerald Engström. Gerald Engstöm is founder and owner of Systemair AB, listed on Nasdaq OMX.

“It is pleasing that HANZA attracts professional investors with broad industrial expertise,” commented Erik Stenfors, CEO HANZA.

Sales of the Company’s shares does not affect the registered number of shares in the Company or the Company’s share capital. However, the company does not longer own shares previously deducted in earnings per share and equity per share. Since company owned shares are not valued in the balance sheet, the transaction results in an increase of equity of SEK 3.5 million.

“It is a good solution for the previous credit agreements,” says Lars Åkerblom, CFO of HANZA Group. “Through the refinancing, we simplify our credit structure and reduce interest expenses”.

The decision to issue the convertible loan was made by the Board of Directors with the authority granted by the Extraordinary General shareholder´s Meeting 30 July 2015. The holder is entitled to convert the loan into shares in the company in December 2017. Furthermore, in certain specific circumstances the holder have the right to request conversion earlier. The conversion rate is eighty-five per cent of the average of the market price of the Company share during the three months immediately preceding and notice of conversion, however not less than SEK 5.80. Upon full conversion of the convertible loan, the Company’s share capital may increase by a maximum of 258 620.70 kronor.

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 08.00 am (CET), November 27, 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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