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SpectrumOne AB — Delisting Announcement 2020
Apr 22, 2020
8586_rns_2020-04-22_3b2cf0ad-d732-4969-86d7-69ae0355e071.html
Delisting Announcement
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SpectrumOne AB (publ) initiates delisting process from Merkur Market with purpose to concentrate all trading to Nasdaq First North Growth Market
SpectrumOne AB (publ) initiates delisting process from Merkur Market with purpose to concentrate all trading to Nasdaq First North Growth Market
Today, on April 22, 2020, due to an increase of liquidity and trade on Nasdaq
First North Growth Market ("First North"), the Board of SpectrumOne AB (publ)
("SpectrumOne" or "the Company") has decided to initiate a delisting process
from Merkur Market, a process that aims to concentrate all trading on First
North. The Company will inform the market when new information about the process
is obtained.
A decision to terminate the parallel listing
SpectrumOne has since 2018 been listed in parallel on both First North in Sweden
and Merkur Market in Norway. During recent times SpectrumOne has experienced an
increase of liquidity and trading on First North while at the same time
experiencing a steady decline in trading liquidity and number of shareholders
trading through Merkur Market. The Company experiences that shareholders, whose
holdings of shares are linked to Merkur Market, have been joining the Swedish
market to conduct trading on First North instead. In light of this trend and in
order to reduce the costs that the parallel listing provides, the Board has
today decided to apply for delisting from Merkur Market pursuant to clause 12.1
(2), second sentence of the Continuing obligations of companies admitted to
trading on Merkur Market. The Company will file a delisting application to the
Oslo Stock Exchange as soon as practicable possible. The delisting is subject to
approval from the Oslo Stock Exchange.
The Company is of the opinion that a delisting from Merkur Market - if approved
by the Oslo Stock Exchange - will not cause any material disadvantage for its
shareholders or have any negative effect on the market's duties or pricing
mechanism. The Company will remain listed on First North and will, therefore,
continue to be subject to its applicable listing rules, as well as provide
shareholders with a liquid market to trade their shares. If the application is
approved by the Oslo Stock Exchange, the Company will furthermore host VPS
investors transferring their securities to common shares registered with
Euroclear Sweden (which can be traded on First North) by providing appropriate
information on how to proceed and work with their VPS registrar (DNB) to ensure
a simple transition for the shareholders.
The Company understands that, in connection with the approval of the delisted
application, the Oslo Stock Exchange may require the Company to maintain its
listing on Merkur Market for a transitional period so that VPS investors have
reasonable time to take measures to transfer their holdings to Euroclear Sweden
in order to continue trading its shares (either at Euroclear Sweden or Merkur
Market).
Hosni Teque-Omeirat, CEO at SpectrumOne, comments "We believe that the benefits
of concentrating all trading to First North, such as reducing costs in relation
to the parallel listing and follow the shareholder trend to focus on First
North, are great for our shareholders and the Company as a whole. Of course, we
want to provide as easy a transition as possible for our shareholders in this
process."
For further information contact:
Hosni Teque-Omeirat
CEO
+46 70 225 18 77
Certified Adviser:
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
www.mangold.se
About SpectrumOne AB
SpectrumOne is a leading technology company delivering an advanced Data
Management, Analytics & Communications platform suite. Offered in a SaaS online
service shipping with rich market data from various professional providers,
SpectrumOne provides a unique solution to many leading actors across industry
segments in various countries. Enabling clients with fast and easy access to
data insight and visualisation coupled with powerful search, segmentation and
mapping features. SpectrumOne allows data to be quickly enabled and
operationalised, driving activities from customer communication to data science
supporting business analysis, strategy and growth. All of which can be enabled
literally the same day with immediate results. SpectrumOne´s
headquarter is based in Stockholm, Sweden, responsible for Nordic sales and
strategy, with additional sales and business development located in Oslo,
Norway. SpectrumOne is listed on Nasdaq First North Growth Market in Stockholm
and Merkur Market in Oslo.
www.spectrumone.com