Embellence Group completes the acquisition of Artscape Inc and resolves on new share issue
Embellence Group AB (publ) (“Embellence Group”) today announces that the acquisition of Artscape Inc, as announced by press release on 21 February 2022, has been completed.
As part of the purchase price for the shares in Artscape Inc, the board of directors of Embellence Group today resolved on a new share issue of 1,183,877 shares, to a value of SEK 40,725,368.80, corresponding to a subscription price of SEK 34,40 per share (corresponding to the volume-weighted average price for the Embellence Group’s share over the most recent ten trading days on Nasdaq First North Premier Growth Market immediately prior to publication the press release on February 21, 2022), to the sellers. The board of directors resolved on a new share issue against contribution in kind pursuant to the authorisation granted by Embellence Group’s general meeting on February 25, 2021. The newly issued shares are subject to lock-up, which is gradually wound up over a two-year period.
The information was submitted for publication, through the agency of the contact persons set out below, at 21:00 CET on March 10, 2022.
For more information, please contact:
Olle Svensk, CEO
Telephone: +46 768 566 093
About Embellence Group
Embellence Group, founded in 1905 in Borås, is a leading European company in the premium wallpaper segment and has a prominent position internationally with sales in over 90 countries. Our brands include Cole & Son, Wall&decò, Perswall, Pappelina and Boråstapeter. Embellence Group shall develop its position as a leading House of Brands in premium interior decoration with a focus on wallpaper, textile, rugs and other interior decoration and drive development in a changing wallpaper and interior decoration market. Embellence Group is listed on Nasdaq First North Premier Growth Market. FNCA Sweden AB is appointed Certified Adviser, firstname.lastname@example.org, +46 (0) 8-528 00 399.