Correction: Approximately 90.82 per cent of the warrants in Savosolar Plc’s warrant plan 1-2020 used for subscription of shares

This is a correction to Savosolar Plc’s company announcement on 25 November 2020 at 11.30 a.m. CET. The amounts of shares subscribed for on the basis of the warrants and in the directed issue were incorrect.Savosolar Plc
Company Announcement, Insider information                    25 November 2020 at 11.30 a.m. (CET)Approximately 91.20 per cent of the warrants in Savosolar Plc’s warrant plan 1-2020 used for subscription of sharesApproximately 91.20 per cent of Savosolar Plc’s (“Savosolar” or the “Company”) warrants under warrant plan 1-2020 have been used for subscription of shares, raising approximately EUR 1.5 million. The Company has additionally decided on a directed share issue of approximately EUR 0.15 million (the “Directed Issue”).The subscription period based on Savosolar’s warrant plan 1-2020 ended on 20 November 2020. Based on the warrants, 13,222,734 new shares were subscribed for and the Company will receive approximately EUR 1.5 million in proceeds before transaction costs. Approximately 91.20 per cent of the warrants were used for subscription of shares.As announced by the Company on 9 November 2020, the Company entered into an agreement on a top guarantee in the  maximum amount of approximately EUR 0.5 million that can be used if the warrants in the Warrant plan 1-2020 are not fully used for subscription of shares. Therefore, the Board of Directors has decided on the Directed Issue of up to 1,275,897 shares, which will raise additional proceeds of approximately EUR 0.15 million before transaction costs. The subscription price is SEK 1.183 per share, which is the same as the subscription price based on the warrants.In accordance with the underwriting agreement for the Directed Issue, the investor is entitled to an underwriting fee equal to 10 per cent to the extent that the top guarantee is used by the Company, payable in cash by the Company.The warrants which were not exercised under the warrant plan 1-2020 have lost their value and will be removed from the securities’ accounts of the warrant holders.SAVOSOLAR PLCFor more information:Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com
Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 25 November 2020 at 11.30 a.m. (CET).The company’s Certified Adviser is Augment Partners AB, info@augment.se, phone: +46 8-505 65 172.