Exercise of over-allotment option and end of the stabilisation period
ABG Sundal Collier AB (“Sole Global Coordinator”) exercises the overallotment option regarding 213 shares in Jetpak Top Holing AB (publ) (“Jetpak” or the “Company”). The stabilisation period has now ended and no further stabilisation measures will be effected.
As announced in connection with the offering to acquire ordinary shares in the Company and the listing of the Company’s shares on Nasdaq First North Premier (the ”Offering”), ABG Sundal Collier, acting as Sole Global Coordinator, may carry out transactions aimed at supporting the market price of the shares at levels above those which might otherwise prevail in the market.
Such stabilisation transactions have been possible to undertake on Nasdaq First North Premier and the OTC-market or otherwise, at any time during the period starting on the first day of trading in the shares on Nasdaq First North Premier, i.e. 5 December 2018, and ended 30 calendar days thereafter (the “Stabilisation Period”), accordingly, the last day on which stabilization transactions could be undertaken was January 4 2019. The stabilization period has ended. The Sole Global Coordinator has not been obligated to undertake any stabilization and there has been no assurance that stabilization would be undertaken. Undertaken stabilisation has been possible to discontinue at any time without prior notice. No transactions have been carried out at a price that is higher than what was established in the Offering.
In order to cover any potential over-allotment in connection with the Offering, the Main Shareholders[1] have committed, upon request of the Sole Global Coordinator, to offer up to an additional 1,078,000 existing shares corresponding to up to approximately 15 per cent of the total number of shares in the Offering (the “Over-allotment Option”) at a price corresponding to the price in the Offering, i.e. SEK 45. It has been possible to exercise the Over-allotment Option in full or in part during the Stabilisation Period. The Sole Global Coordinator now notifies that the Over-allotment Option with respect to 213 existing shares has been exercised. Accordingly, 1,077,787 shares that the Sole Global Coordinator has borrowed from the Main Shareholders for the purposes of covering over-allotment in connection with the Offering will be returned.
ABG Sundal Collier has, in its capacity as stabilization manager, notified that stabilization measures has been undertaken, in accordance with article 5(4) in the Market Abuse Regulation 596/2014, on Nasdaq First North Premier as specified below. Undertaken stabilization measures were also announced on 14 and 21 December 2018. The contact person at ABG Sundal Collier is Erik Skog (tel: +46 (0) 8 56 62 94 71).
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|Stabilization information: |
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|Issuer: |Jetpak Top Holding AB (publ)|
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|Securities: |Shares (SE0012012508) |
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|Offering size: |7,222,000 shares |
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|Over-allotment option |1,078,000 shares |
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|Offer price: |SEK 45 |
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|Ticker: |JETPAK |
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|Stabilization manager:|ABG Sundal Collier AB |
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|Stabilization |
|transactions: |
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|Date |Quantity|Price |Price |Price (volume|Currency|Trading venue |
| | |(highest)|(lowest)|weighted | | |
| | | | |average) | | |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-05 |507,000 |44.90 |41.60 |43.73 |SEK |Nasdaq First |
| | | | | | |North Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-06 |79,000 |42.70 |42.00 |42.38 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-07 |25,996 |43.71 |42.20 |43.23 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-10 |21,000 |42.90 |42.70 |42.83 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-11 |26,275 |43.59 |42.85 |43.28 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-12 |5,095 |43.52 |43.50 |43.50 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-13 |25,733 |43.50 |43.20 |43.47 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-14 |8,000 |43.00 |42.80 |42.90 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-18 |61,993 |43.50 |42.80 |43.33 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-19 |17,908 |43.50 |43.40 |43.48 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-20 |1,856 |43.00 |43.00 |43.00 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-21 |34,204 |43.00 |43.50 |43.29 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-27 |16,968 |43.40 |43.00 |43.08 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2018-12-28 |71,125 |44.50 |43.00 |43.76 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2019-01-02 |40,847 |44.00 |44.00 |44.00 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2019-01-03 |40,000 |44.70 |43.80 |44.34 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
+———–+——–+———+——–+————-+——–+————–+
|2019-01-04 |94,787 |45.00 |44.60 |44.92 |SEK |Nasdaq First |
| | | | | | |North |
| | | | | | |Premier |
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For more information, please contact:
Kenneth Marx, CEO Jetpak.
+46 (0) 73 368 54 00, kenneth.marx@jetpak.com
Peter Hallman, CFO Jetpak.
+46 (0) 73 368 52 10, peter.hallman@jetpak.se
This is information that Jetpak Top Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above, at [18:00] CET on 4 January 2019.
About Jetpak
Jetpak is a leading player within time critical express deliveries within the Nordics, with a history that dates back to 1979. Jetpak offers fast, easy, and precise solutions for both ad-hoc transport needs and tailor made logistics. Jetpak specialises in air-based long distance deliveries from door to door and is primarily active within the B2B segment. The Company offers courier and express services through its proprietary IT platform JENA, which connects multiple flight and car routes in order to find the fastest possible transportation route. Jetpak is of the opinion that its leading position within courier and express services enables continued expansion within both current as well as new geographies.
Jetpak is headquartered in Stockholm, and has sales offices in Oslo, Copenhagen, and Helsinki. For the third quarter 2018, Jetpak’s total adjusted revenues amounted to SEK 819.4 million on a rolling twelve month period (LTM), corresponding to a revenue growth of 8.6 per cent compared to the corresponding period in 2017, and an adjusted EBITA of SEK 81.0 million, which corresponds to an adjusted EBITA margin of 9.9 per cent.
Jetpak’s revenues are distributed between two segments, Express Ad-hoc and Express Systemized. Express Ad-Hoc includes spontaneous orders of flexible and time critical express deliveries, while Express Systemized includes systematic regular express deliveries. For the third quarter 2018, net sales LTM amounted to SEK 386.0 million for the Express Ad-hoc segment and SEK 415.9 million for the Express Systemized segment.
FNCA Sweden AB has been appointed Certified Adviser.
Important information
This announcement is not and does not form a part of any offer for sale of or a solicitation to buy any securities issued by the Company in any jurisdiction where such offer would be unlawful.
In any EEA Member State other than Sweden that has implemented the Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
Any offering of securities referred to in this announcement will only be made by means of a prospectus. This announcement is not a prospectus for the purposes of the Prospectus Directive. Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
This announcement and the information contained in this announcement are not being made and may not be distributed or sent into the United States. This announcement is not an offer for purchase of securities in the U.S. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
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[1] ”Main Shareholders” refers to i) Polaris Private Equity III K/S and Kommanditselskabet af 1. marts 2009 (CIV), represented by its general partner Polaris III Invest Fonden, Polaris Private Equity II K/S, and ii) Kommanditselskabet (CIV) af 8 februar 2005, represented by its general partners Polaris Invest II ApS and Polaris II Invest Fonden.
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