Scandi Standard resolves on rights issue of approximately SEK 408 million

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PRESS RELEASE, 30 July 2026

 

The board of directors of Scandi Standard AB (publ) (“Scandi Standard” or the “Company”) has resolved on a new issue of ordinary shares of approximately SEK 408 million with preferential rights for existing shareholders (the “Rights Issue”). The purpose of the Rights Issue is to finance the Company’s acquisition of Glenhaven Foods, that was announced today. The Rights Issue is subject to approval by an extraordinary general meeting that will be held on 26 August 2026 (the “EGM”). The subscription period will start on 1 September 2026 and end on 15 September 2026. Larger shareholders, who in aggregate control approximately 63 per cent of all shares and votes in Scandi Standard, have undertaken to vote in favour of the Rights Issue at the EGM and to subscribe for their respective pro rata shares of the Rights Issue. In addition, such larger shareholders have, subject to the EGM’s approval of an underwriting commitment fee, undertaken to subscribe for the remaining ordinary shares in the Rights Issue that are not covered by pro rata subscription commitments and are not subscribed and paid for by other investors.

 

Summary of the Rights Issue

• The subscription price is SEK 125 per ordinary share.
• The Rights Issue comprises 3,268,143 new ordinary shares, meaning the gross proceeds will be approximately SEK 408 million before deduction of transaction costs.
• Shareholders of the Company will receive one (1) subscription right for each existing ordinary share held on the record date 28 August 2026. Twenty (20) subscription rights will entitle to subscription for one (1) new ordinary share in the Company.
• Completion of the Rights Issue is subject to approval by an EGM that will be held on 26August 2026.
• Larger shareholders, who in aggregate control approximately 63 per cent of all shares and votes in Scandi Standard, have undertaken to vote in favour of the Rights Issue at the EGM and to subscribe for their respective pro rata shares of the Rights Issue.[1] In addition, such larger shareholders have, subject to the EGM’s approval of an underwriting commitment fee, undertaken to subscribe for the remaining ordinary shares in the Rights Issue that are not covered by pro rata subscription commitments and are not subscribed and paid for by other investors (see “Subscription and conditional underwriting commitments” below).
• An information document regarding the Scandi Standard and the Rights Issue will be published on or around 25August2026.
• The subscription period in the Rights Issue will start on 1 September 2026 and end on 15September 2026.

 

Background and reason

Today on 30 July, Scandi Standard announced the acquisition of Glenhaven Foods. Founded in 1986 and based in Arklow, Co. Wicklow, Glenhaven Foods is one of Ireland’s market-leading producers of frozen value-added poultry products. The company is a supplier to major retail, foodservice and quick-service restaurant customers across Ireland and the UK and has built a strong reputation for product innovation, product quality and long-standing customer relationships. The acquisition strengthens Scandi Standard’s position in the attractive Ready-to-Eat and value-added poultry category, and significantly expands the Group’s presence in the UK and Ireland. The acquisition also supports the Company’s ambition to become Europe’s leading chicken company. The purpose of the Rights Issue is to allow all shareholders of Scandi Standard to participate in the financing of the acquisition of Glenhaven Foods.

The terms for the Rights Issue

The Rights Issue comprises 3,268,143 new ordinary shares in the Company.

The subscription price in the Rights Issue is SEK 125 per ordinary share. The subscription price corresponds to a discount of 2.8 per cent to the theoretical share price post separation of the subscription rights (so-called TERP – theoretical ex-rights price) based on the closing price of SEK 128.80 for the Company’s ordinary share on Nasdaq Stockholm on 29July2026.

Those who are registered as shareholders in the share register maintained by Euroclear Sweden AB on the record date of 28 August 2026 have preferential rightsto subscribe for ordinary shares in the Rights Issue. Shareholders shall receive one (1)subscription right for each existing ordinary share held on 28 August 2026. Twenty (20)subscription rights shall entitle to subscription for one (1) new ordinary share in the Company. Only entire new ordinary shares can be subscribed for (no fractions).

The subscription period will start on 1 September 2026 and end on 15 September 2026. Subscription for new ordinary shares with subscription rights shall be made by payment in cash. Application for subscription for new ordinary shares can also be made without subscription rights on a relevant application form.

Should all new ordinary shares not be subscribed for with subscription rights, the board ofdirectors shall resolve on the allotment of the remaining ordinary shares to those who have applied for subscription for ordinary shares without subscription rights in accordance with the following principles:

• Firstly, the new ordinary shares shall be allotted to those who also subscribed for new ordinary shares with subscription rights, regardless if they were shareholders on the record date on 28 August 2026 or not, in proportion to the number of subscription rights each such person exercised for subscription for ordinary shares, and where this is not possible, by drawing of lots.
• Secondly, the new ordinary shares shall be allotted to others who applied for subscription for new ordinary shares without subscription rights and, in case of oversubscription, in proportion to the number of ordinary shares that each such person has applied to subscribe for, and where this is not possible, by drawing of lots.
• Thirdly, such ordinary shares shall be allotted to those who have subscribed for ordinary shares pursuant to guarantee undertakings towards the Company, in accordance with the terms of the undertakings.

Payment for ordinary shares subscribed for without subscription rights shall be made through payment in cash no later than the third business day following notification of allotment of ordinary shares.

The Company holds 698,012 own ordinary shares in treasury, which will not entitle to subscription of new ordinary shares in the Rights Issue.

The newordinary shares shall entitle to dividends for the first time on the first record date for dividends that occurs after 18 September 2026. Accordingly, the new ordinary shares will not entitle to the second instalment of the dividend that was resolved upon at the annual general meeting on 28 April 2026.

 

Subscription and conditional underwriting commitments

Grupo Lusiaves, Investment AB Öresund, Lantmännen, Eva Qviberg, Mats Qviberg and Anna Engebretsen, who in aggregate control approximately 63 per cent of all shares and votes in Scandi Standard, have undertaken to subscribe for their respective pro rata shares of the Rights Issue.

In addition, Grupo Lusiaves, Investment AB Öresund, Lantmännen, Eva Qviberg, Mats Qviberg and Anna Engebretsen have undertaken to guarantee the subscription for the remaining approximately 37 per cent of the Rights Issue that arenot already covered by pro rata subscription commitments, allocated among them in proportion to their current shareholdings in Scandi Standard. As consideration for the underwriting commitments, these shareholders have requested an underwriting commitment fee of in aggregate approximately SEK6million, corresponding to four (4) per cent of the subscription amount guaranteed by each of them. The shareholders’ obligation to fulfil the underwriting commitments are conditional upon the Company’s payment of such underwriting commitment fees. Since several of the shareholders are represented on the board of directors of Scandi Standard, the board of directors considers it appropriate to seek the approval of the EGM for theCompany’s payment of the underwriting commitment fee. Consequently, the underwriting commitments are conditional upon the EGM’s approval of the Company’s payment of the underwriting commitment fee. Such approval will only be valid if supported by shareholders representing more than half of the votes cast at the resolution at the EGM, whereby votes cast by Grupo Lusiaves, Investment AB Öresund, Lantmännen, Eva Qviberg, Mats Qviberg and Anna Engebretsen shall not be taken into account.

In accordance with good practice in the Swedish stock market (Sw. god sed på aktiemarknaden), no commitment fee or compensation is payable in respect of Grupo Lusiaves’, Investment AB Öresund’s, Lantmännen’s, Eva Qviberg’s, Mats Qviberg’s and Anna Engebretsen’s commitments to subscribe for their respective pro rata shares of the Rights Issue based on their respective shareholdings in Scandi Standard. Further, these commitments are not conditional upon the payment of the underwriting commitment fee.

EGM

Completion of the Rights Issue is subject to the approval by an EGM that will be held on 26August 2026.

Scandi Standard will publish the notice convening the EGM through a separate press release today.

Shareholders who in aggregate control approximately 63 per cent of all shares and votes in the Company have undertaken to vote in favour of the Rights Issue at the EGM.

 

Dilution

The total number of shares and votes in the Company will increase from 66,060,890 to 69,329,033 ordinary shares and votes and the share capital will increase from SEK 659,663.30 to SEK 692,297.95 if the Rights Issue is fully subscribed. Consequently, shareholders that do not participate in the Rights Issue will be subject to dilution of 4.76 per cent of their shares and votes in the Company (calculated excluding the 698,012 own ordinary shares which the Company holds in treasury).

Shareholders in eligible jurisdictions will have the opportunity to financially compensate themselves for the dilution effect of the Rights Issue by selling their subscription rights. Trading in subscription rights on Nasdaq Stockholm will take place during the period 1 September–10September 2026. Upon a sale of a subscription right, the preferential right transfers to the new holder of the subscription right.

The securities legislation in certain jurisdictions may affect the possibility for certain foreign shareholders and other investors to receive subscription rights and subscribe forordinary shares in the Rights Issue. Subscription rights that otherwise would have been delivered to shareholders in certain so-called ineligible jurisdictions may therefore be sold and the proceeds will, following deduction of costs, in such case be paid to such shareholders in accordance with the instructions and procedures of the respective nominee. Such shareholders should consult with their nominees to ensure they do not forfeit the economic value of the subscription rights.

 

Additional information on the Rights Issue

The complete terms and instructions for participation in the Rights Issue, together with certain information about the Company and risks associated with an investment in the Company, will be presented in an information document prepared pursuant to Article 1.4 (da) and Annex IX of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the “Prospectus Regulation”). The information document is expected to be published on or around 25 August 2026.

 

Preliminary timetable

25 August 2026	Publication of the information document
26 August 2026	EGM for approval of the board of directors’ resolution on the Rights Issue
26 August 2026	Last day of trading in the ordinary share including right to receive subscription rights in the Rights Issue
27 August 2026	First day of trading in the ordinary share excluding right to receive subscription rights in the Rights Issue
28 August 2026	Record date for participation in the Rights Issue. Those who are registered as shareholders in Scandi Standard on this date will receive subscription rights in proportion to their shareholding as of this date
1 September–15September 2026	Subscription period
1 September–10September 2026	Trading in subscription rights on Nasdaq Stockholm
1 September–24September 2026	Trading in paid subscribed shares (Sw. betald tecknad aktie, BTA) on Nasdaq Stockholm
16 September 2026	Publication of preliminary subscription level in the Rights Issue
17 September 2026	Publication of confirmed subscription level in the Rights Issue
18 September 2026	Record date for the second instalment of the dividend that was resolved upon at the annual general meeting on 28 April 2026 The new ordinary shares issued through the Rights Issue will not be entitled to this dividend

 

For further information, please contact:
Jonas Tunestål, CEO: +46 10456 13 00

Henrik Heiberg, Head of M&A, Financing & IR: +47 917 47724

Scandi Standard is the market leader in chicken-based food products in the Nordic region and Ireland. The company processes, markets, and sells ready-to-eat, chilled, and frozen products under the well known brands Kronfågel, Danpo, Den Stolte Hane, Manor Farm, and Naapurin Maalaiskana. Scandi Standard also has leading positions in frozen, breaded poultry products in the Nordic region and operates two of Europe’s most efficient production lines in the Netherlands. The Group owns an integrated, cost efficient chicken operation in Lithuania and employs more than 3,600 people with annual sales exceeding SEK 14 billion. For more information, please visitwww.scandistandard.com.

This information is information which Scandi Standard is required to disclose pursuant to the EU market abuse regulation. It was released for publication, through the agency of the contact persons set out above, at 11:00 AM CEST on 30 July 2026.

Important information

This press release and the information in this press release is not for publication, distribution or release, in whole or in part, directly or indirectly, in or into the United States, Canada, Australia, South Africa, Japan or any other state or jurisdiction in which the publication, distribution or release of this press release would be unlawful or require registration or any other measures in accordance with applicable law.

The press release is for informational purposes only and does not constitute an offer to purchase or subscribe or the solicitation of an offer to purchase or subscribe for any securities or any other financial instruments in the Company.

Any offer in respect of the securities referred to in this press release (the “Securities”) within the European Economic Area (EEA) will only be made under an exemption from the obligation to prepare and publish a prospectus pursuant to the Prospectus Regulation and/or any relevant national implementation of the Prospectus Regulation.

None of the Securities have been or will be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction in the United States, and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company does not intend to register any of the Securities in the United States or to conduct a public offering of the Securities in the United States.

In the United Kingdom, this announcement does not constitute an offer of the Securities to the public for the purposes of the Public Offers and Admissions to Trading Regulations 2024. In addition, the communication of this press release and any other related documents or materials have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, the communication of such documents and/or materials as a financial promotion is only being made to, and may only be acted upon by, the following persons in the United Kingdom: (i) “investment professionals”, being persons who have professional experience in matters relating to investments, as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the“Order”), (ii) high net worth companies and other persons falling within Article 49(2) of the Order, (iii) existing members or creditors of the Company or other persons falling within Article 43 of the Order or (iv) any other persons to whom it may otherwise be lawfully made under the Order (all such persons referred to above together being referred to as “Relevant Persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, persons in the United Kingdom who are Relevant Persons. Any person who is not a Relevant Person should not act or rely on this press release or any of its contents.

The Company will not make any offer of the Securities to, and application forms will not be approved from, subscribers (including shareholders), or persons acting on behalf of subscribers, in any jurisdiction where applications for such subscription would contravene applicable laws or regulations, or would require additional prospectuses, filings, or other measures in addition to those required under Swedish law. Measures in violation of the restrictions may constitute a breach of relevant securities laws.

This press release contains forward-looking statements that reflect the Company’s current view of future events. Words such as “intend”, “assess”, “expect”, “may”, “plan”, “estimate” and other expressions involving indications or predictions regarding future development or trends, not based on historical facts, identify forward-looking statements and reflect the Company’s beliefs and expectations and involve a number of risks, uncertainties and assumptions which could cause actual events and performance to differ materially from any expected future events or performance expressed or implied by the forward-looking statement. The information contained in this press release is subject to change without notice and the Company does not assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained in it and nor does it intend to do so except as required by applicable law. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.