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Thursday night comes the announcement that the XXL businessman Øhus Tidemandsen has sold 13 million shares in XXL at a price of NOK 9 per share. This means that it has sold shares for NOK 117 million.
The sale comes after it was announced Thursday that Tidemandsen would sell about half of its equity stake in the company to participate in the company’s next private placement.
According to the register of shareholders, Tidemandsen through Dolphin Management had 33.8 million shares in XXL at the beginning of the week, a 19.63 percent participation.
Thursday’s share sales correspond to 7.5 percent of all shares in XXL.
In a subsequent announcement of the stock exchange also comes the news that the new head of XXL, Pål Wibe, bought 2.2 million shares of Tidemandsen sold at a price of NOK 9 per share.
This means that Wibe has bought shares for NOK 19.8 million in XXL, and now owns 2.2 million shares in the sports equipment chain through Nordkronen II as.
CEO Pål Wibe at XXL in the Alnabru store.
(Photo: Gunnar Lier)
It must reach 400 million.
The next issue was announced in early April and involves a refinancing of NOK 1.45 billion and a share issue of NOK 400 million.
- The balance will now be strengthened by XXL, having refinanced with its existing banks for NOK 1.45 billion.
- New capital will also be raised through a guaranteed subscription rights issue of NOK 400 million at a price of NOK 5.00 per share.
The fact that the acquisition of capital is made as a matter of subscription rights means that each shareholder has the opportunity to subscribe for new shares corresponding to their current participation.
The Altor acquisition fund, Ferd de Johan H. Andresen and the Odin funds have agreed to underwrite their ownership interests.
Current quarterly figures
Wednesday of this week came the facet of the extensive XXL shell sale after a snowy winter.
The sports equipment chain increased revenue to NOK 2.2 billion in the quarter, but at the expense of profitability. Gross margin fell to 28 percent, down from 41 percent in the same period last year.
This produced a record first quarter profit of minus NOK 268 million before tax.
“In isolation, one cannot be satisfied with the negative results, but there are some underlying factors in the quarter that are positive, such as reduced inventories,” said Pål Wibe, who has been in office for 28 days as the new XXL manager. .(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which links directly to our pages. Copying or any other use of all or part of the content may only be made with written permission or as permitted by law. For more terms see here.
