Offer to repurchase warrants for settlement of LTI2017

The Board of Dustin has resolved to offer the holders of warrants of series 2017/2020 to repurchase their warrants. The offer only concerns the settlement of the warrants and does not entail any changes to the terms of the warrants or the plan.

The Annual General Meeting 2015/2016 resolved to adopt a long-term warrant plan for the executive management and certain key employees (LTI2017). In total, 1,067,725 warrants were issued in one series that can be exercised to subscribe for new shares during the period January 31 – June 30, 2020. As of today, the number of outstanding warrants in the program amounts to 802,713.

The Board has resolved that the company shall make an offer to repurchase all outstanding warrants of series 2017/2020, at market terms (corresponding to Dustin’s share price, with deduction of the warrant’s subscription price). The resolution only concerns the settlement of the warrants and does not entail any changes to the terms of the warrants or the plan. The offer is made conditional upon that the participants invest the consideration, net after taxes, in Dustin shares.

The objective for making the offer is to facilitate for the option holders in LTI2017 to obtain the value of the warrants, given the current market pre-requisites, and at the same time achieve the intention with LTI2017, that key persons in the group shall be shareholders in Dustin. The offer makes it easier for the warrant holders compared to if the warrants had been exercised and the participants had financed the exercise themselves.

The offer does not entail any additional tax costs nor any transaction fees for the company and it also simplifies the administration for the company. In addition, the repurchase of the warrants decreases the warrants’ dilutive effect on votes compared to if the warrants had been exercised.

Based on an assumed share price of SEK 76.9 (the volume weighted average price ten trading days prior to the date of this press release, January 27, 2020), the consideration for the offer would amount to in total MSEK 3.7, if all holders of warrants in series 2017/2020 fully accept the offer.

For further information, please contact:

Eva Ernfors, Head of Information: eva.ernfors@dustin.se, +46 70 258 62 94

About Dustin

Dustin is a leading online based IT-partner with operations in the Nordics and the Netherlands. The Company offers IT products with associated services and solutions to companies, the public sector and private individuals with a main focus on small and medium-sized companies. Dustin functions as a bridge between the manufacturers' wide-ranging offerings and customer requirements. The Company offers some 255,000 products with associated services where Dustin's employees support customers in finding the appropriate solution.

Dustin has more than 1.800 employees. Sales for the 2018/19 financial year amounted to SEK 12.5 billion. More than 90 per cent of Dustin's income derives from the corporate market. Dustin Group has been listed on Nasdaq Stockholm since 2015 and has its head office in Nacka, Stockholm.