Scandinavian Enviro Systems has been informed that Michelin once again owns a total of 20 percent of the shares in Enviro following the dilution of its holding in May as a result of the completed new issue. The increase in its holding resulted from Michelin, via its subsidiary, acquiring two million of the shares that were issued in May to Unwrap Finance AB. Enviro has no information about the purchase consideration or the acquisition price.
Michelin, the French tyre manufacturer, acquired 20% of Enviro's shares through a directed issue in April of last year, through its wholly-owned subsidiary Michelin Ventures SAS. Michelin is now the majority shareholder in Enviro as a result of the transaction.
Enviro finalized a directed offer of a total of 10,000,000 new shares to Unwrap Finance AB in mid-May, raising SEK 20,950,261 before issue charges. The subscription price per share was SEK 2.095, and the total number of shares in the firm after the offer was 590,826,115, bringing the total share capital to SEK 23,633,045. Michelin's shareholding was slightly diluted as a result of the share issue, which resulted in a 2% dilution.
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According to Enviro, Michelin, through its subsidiary Michelin Ventures SAS, now controls 20% of Enviro's shares after purchasing a total of two million of the recently issued shares from Unwrap Finance AB. Enviro has received no information on the purchase price or the buying consideration.
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About the Michelin Group
The Michelin Group is a global company headquartered in Clermont-Ferrand, France. Founded in 1889, the Michelin Group provides tyres to over 170 countries. The Michelin Group makes tyres locally for your specific needs and road conditions in one of our 69 production facilities around the world. Michelin's 114,000 employees are committed to making the safest and most relevant tyres for you. Michelin are leaders in innovation and sustainable development for the mobility of people and goods. For more information on the Michelin Group and Michelin operations worldwide visit: www.michelin.com.
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