Inside information: The Board of Directors of Wetteri Plc has decided on a directed share issue

Wetteri Plc Inside information, 21 December 2023 at 18.00 EET

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Directed share issue

The Board of Directors of Wetteri Plc (“Wetteri” or “Company”) has decided on a directed share issue against payment to certain institutional investors and a limited number of experienced investors based on the authorization given by the Company's Annual General Meeting on the 8th of May 2023. The share issue aims to raise a total funds of EUR 3.4 million.

Wetteri offers a total of 7,327,587 new shares of the Company in the directed share issue. The maximum number of shares corresponds to approximately 5.2 percent of all outstanding shares issued by Company immediately prior to the directed share issue. The new shares will be offered for subscription by 22nd of December 2023 at the latest, unless the Company’s Board of Directors decides to extend the subscription period.

The subscription price is EUR 0.464 per share, which is the closing price of the Company's share on 20th of December 2023 at the end of trading in the Helsinki Stock Exchange less approximately 10,1 percent discount. The subscription price of the new shares will be recorded in full in the Company's invested unrestricted equity fund.

There is a weighty financial reason for deviation from the pre-emptive subscription rights of the Company's shareholders as in the share issue the Company will receive additional equity funding to the Company with a fast schedule and reasonable transaction costs. With this capital, arrangements in line with the strategy can be implemented within the planned schedule.

If the directed share issue is fully subscribed, the number of Wetteri’s shares may increase to a maximum of 148,312,609 shares (the maximum of 100,000 new shares to be issued in a free share issue to personnel announced earlier today has been included in the amount). The new shares to be issued in the directed share issue and the free share issue to personnel would correspond to approximately 5.0 % of the total number of Wetteri’s shares after the new shares were issued (if the above-mentioned share issue to personnel had also been carried out in full).

The new shares are estimated to be registered with the Trade Register approximately on the 5th of January 2024, and they will confer shareholder rights when the new shares have been registered and recorded in the subscriber's book-entry account. The new shares are estimated to be admitted to trading approximately on the 12th of January 2024.

Aktia Alexander Corporate Finance Ltd acts as the Company’s financial adviser and Lexia Attorney’s Ltd as the Company’s legal advisor in the directed share issue.

Additional information

Aarne Simula, CEO, Wetteri Plc

Tel. 0400 689 613,

Wetteri Plc – An Entrepreneur-Driven Automotive Growth Company

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 40 locations in Finland. The company employs around 900 people, of whom nearly 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: