Offer to repurchase warrants for settlement of LTI2018

The Board of Dustin has resolved to offer the holders of warrants of series 2018/2021 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 2016/2017 resolved to adopt a long-term warrant plan for the executive management and certain key employees (LTI2018). In total, 866,713 warrants were issued in one series that can be exercised to subscribe for new shares during the period January 31 – June 30, 2021. As of today, the number of outstanding warrants in the program amounts to 858,152.

The Board has resolved that the company shall make an offer to repurchase all outstanding warrants of series 2018/2021, at market terms (corresponding to Dustin’s share price calculated as the volume-weighted average price five trading days prior to the date of notification of repurchase, with deduction of the warrant’s subscription price) starting on 21 April 2021. 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 LTI2018 to obtain the value of the warrants, given the current market pre-requisites, and at the same time achieve the intention with LTI2018, 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 100,37 (the volume weighted average price five trading days prior to the date of this press release, April 15, 2020), the consideration for the offer would amount to in total MSEK 12, if all holders of warrants in series 2018/2021 fully accept the offer.

For further information, please contact:

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

About Dustin

Dustin is a leading online IT partner with operations in the Nordics and the Netherlands. We help our customers to stay in the forefront by providing them with the right IT solution, at the right time and at the right price.

We offer approximately 255,000 products with related services to companies, the public sector and private individuals. The main focus is on SMEs. Sales for the financial year 2019/20 amounted to approximately SEK 13.2 billion and just over 90 per cent of the revenues came from the corporate market.

Dustin Group has more than 1,700 employees and has been listed on Nasdaq Stockholm since 2015 with headquarters in Nacka Strand just outside central Stockholm.