EIT InnoEnergy warrant program completed

The previously issued warrant program in Minesto AB aimed at the European investor EIT InnoEnergy has been completed. A total of 8,513,595 shares were subscribed for in Minesto through the warrant program.

Through investments totalling EUR 5.5 million during the years 2015–2018, EIT InnoEnergy has received a total of 8,513,595 warrants in Minesto AB divided into three series.

Following the expiry of the final subscription periods on 15 August 2020, EIT InnoEnergy has exercised all the acquired warrants and has thus subscribed for a total of 8,513,595 shares in Minesto by exercising the warrants.

The warrants gave EIT InnoEnergy the right to subscribe for new shares in Minesto at a price of SEK 0.05 per share.

The new number of shares and votes in Minesto AB amounts to 128,037,335, each with a quota value of SEK 0.05. The share capital in Minesto AB thus amounts to SEK 6,401,866.75.

About Minesto

Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.

Minesto’s award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

With more than €40 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date.

Minesto was founded in 2007 and has operations in Sweden, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission, email: ca@gwkapital.se, telephone: +46 8 503 000 50.

Read more about Minesto at www.minesto.com

Press images and other media material is available for download via bit.ly/Minesto_media.

Financial information including reports, prospectuses and company descriptions is available in Swedish at www.minesto.com/investor.