The Board of BIMobject AB ("BIMobject") has - with authorization from the Annual General Meeting - decided to conduct a directed share issue to Solar A/S, which is listed on Nasdaq Copenhagen. Solar Group is one of Northern Europe's leading sourcing and services company, operating primarily within the electrical, heating and plumbing, and ventilation technology sectors, and with a generated revenue of approximately 10.6 billion DKK in 2015. The directed share issue of approximately 166.7 MSEK (before transaction costs) is made without preferential rights for existing shareholders, on the basis that the Board considers it beneficial for the company and shareholders to increase the amount of shareholders, utilizing the opportunity to bring new capital for expansion purposes from a strategic and well-respected investor and with these attractive conditions. It is the Board's belief that the directed share issue contributes to creating value for all shareholders. In conjunction with the directed share issue, BIMobject's founder and CEO Stefan Larsson (through Procedural Labs AB) and the board members Phillippe Butty (through Abvent SA), Ben O'Donnell (through Green Arkitekter AB), and Johannes Reischböck, have agreed to sell a total of 2,400,000 shares in the company to the price of 21 SEK/share to Solar A/S, since they are of the opinion that the company will benefit if Solar A/S takes a significant position as a major shareholder in BIMobject.
Solar A/S is - given its leading position in the field of product sourcing, value-adding services and optimisation of their customers' businesses and with a wide range of products and services primarily within the electrical, heating and plumbing, and ventilation technology sectors - a suitable strategic and long-term partner to BIMobject. For BIMobject this also means a significant capitalization which opens to further strengthen the company's business as well as the technology portfolio of extensive intelligent cloud solutions and internet-based infrastructures for building and interior products. BIMobject is the market leader in the development, hosting, publishing and maintenance of digital products in the architectural, engineering and construction field, and has the ambition to strengthen this position by intensifying its technical solutions towards Supply Chain and e-commerce, as well as expanding and developing into new markets such as Asia, South America and North America.
The directed share issue comprises the amount of 7,938,566 new shares and increases the share capital by 174,648 SEK. The subscription price of 21 SEK per share has been established on the basis of the share price and is the result of a negotiation with the investor. This is approximately 10,64% lower than the closing share price on January 26th, 2017. After a completion of the directed share issue and the acquisition of shares as described above, Solar A/S will own approximately 19.99% of BIMobject. The directed share issue involves a share dilution rate of approximately 15.35% for the existing shareholders, based on the number of shares in the company before/after the issue.
"We are very proud that Solar A/S has chosen BIMobject as a partner. Solar A/S will be an important long-term and strategic shareholder, as the company brings its expertise in e-commerce, logistics and distribution, and will become an important partner when new digital pathways are to be created in the retail level of our new system BIMsupply®. Carrying out this directed share issue to such a large company as Solar A/S is a clear evidence of our continuously rapid development. For an internet platform company such as BIMobject, it is all about scaling up; about how fast and how much we can scale up our business and also integrate with all surrounding technical solutions and innovations, in order to change and challenge traditional solutions in the construction industry at a high speed. With this capital injection, we will now be able to speed up and invest in new markets with more salespeople. We will also develop new innovations where we link the value of the digital products and product information with e-commerce, logistics, additive manufacturing and new visualization techniques that support communication and know-how in the professional disciplines. All to achieve a more efficient process that saves money, minimizes risk and helps the construction industry to minimize carbon emissions and wastage", says Stefan Larsson, CEO and founder of BIMobject.
"Solar is a digital sourcing and services company, and an important aspect of our strategy is to drive, support and benefit from productivity improvement in the construction industry. BIM is the main driving force behind the digitalisation. However, a critical part of BIM is the ability to use digital building materials, which is exactly where BIMobject's technology supports all stakeholders in the value chain. We have been in dialogue with the BIMobject team for a long time about a closer relationship, and we are truly excited about becoming an active shareholder. We hope to be able to both support BIMobject in its continued success, while at the same time pursue joint opportunities in the business interface between BIMobject and Solar", says Anders Wilhjelm, CEO at Solar A/S.
As described above, BIMobject's founder and CEO Stefan Larsson (through Procedural Labs AB) and the board members Phillippe Butty (through Abvent SA), Ben O'Donnell (through Green Arkitekter AB), and Johannes Reischböck, have in conjunction with the directed share issue agreed to sell a total of 2,400,000 shares in the company to the price of 21 SEK per share to Solar A/S, corresponding to 50.4 Million SEK. Procedural Labs AB's total holding in BIMobject after the sale of 1,300,000 shares amounts to 6,945,900 shares (equivalent to around 13.43 % of the share capital and votes). Abvent SA's total holding in BIMobject after the sale of 500,000 shares amounts to 2,863,000 shares (equivalent to around 5.54 % of the share capital and votes), Green Arkitekter AB's shareholding following the sale of 100,000 shares amounts to 115,706 shares (equivalent to around 0.22% of the share capital and votes) and Johannes Reischböck's shareholding following the sale of 500,000 shares amounts to 1,628,500 shares (equivalent to around 3.15 % of the share capital and votes).
About Solar A/S
Solar Group is a leading European sourcing and services company. The company's core business centres on product sourcing, value-adding services and optimisation of their customers' businesses.
Solar Group is headquartered in Denmark, generated revenue of approximately DKK 10.6bn in 2015 and has some 3,000 employees. Solar has been listed on Nasdaq Copenhagen since 1953, and operates under the short designation SOLAR B.
For more information, please contact:
Natalie Nilsson - PR & Marketing Manager
Tel: +46 40- 685 29 00
This information is information that BIMobject AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on January 27th, 2017.
BIMobject® Corporation, acknowledged by investors with a Global Red Herring 100 award, and a public company on Nasdaq Stockholm First North: ticker BIM. BIMobject® is a game changer for the construction industry worldwide with its cloud based digital content management system for BIM objects.
BIMobject as a disruptive technology corporation is at the forefront of the digitalisation of building products and materials, enabling the information to be turned into know-how earlier in the BIM processes. The BIMobject Cloud is a digital platform, where BIM professionals can reach and download BIM files from brands, from both Europe and US. This will enable industrialisation of the construction industry and also have a huge impact on design, product selection, constructability, waste, energy, cost, quality and logistics.
Our unique solutions for Building Product Manufacturers provide development, hosting, maintenance, syndication and publication of the digital replicas of the manufacturers' products - BIM objects. The marketing and pre-sales services associated with the BIMobject Cloud are channeled and integrated, through Apps, into CAD/BIM applications to create a business-to-business communication across the globe.
Manufacturers use BIMobject® to promote and deliver their products directly into BIM processes enabling their products to be selected and generate a real improvement in sales.
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This is an English version of an original Swedish press release communicated by BIMobject AB. In case of interpretation issues or possible differences between the different versions, the Swedish version shall apply.