Xer Tech Holding AB announces the completion of the sale of shares from Rex Technology Investments Pte. Ltd. to members of the Company’s management and Board of Directors.
Xer Tech Holding AB (publ) (“Xer Tech Holding” or the "Company”) hereby announces that the Company has received information that Rex Technology Investments Pte. Ltd. (“Rex”) has completed the previously announced sale of a minor part of its shareholding in Xer Tech Holding to members of the Company’s management and Board of Directors.
Prior to the transactions with members of the Company’s management and Board of Directors, Rex’s holding in Xer Tech Holding represented 50.42 per cent of the shares and votes. Following the transactions, Rex’s holding in Xer Tech Holding represents 49.76 per cent of the shares and votes, thereby falling below the 50 per cent threshold for major shareholding notifications.
The 390,622 shares were acquired at a price of SEK 2.65 per share by members of the company’s management and board, corresponding to a premium of 22.5 per cent compared with the closing price on Spotlight Stock Market on September 30.
For further information, please contact:
Erik Herlyn, CEO Xer Tech Holding AB
+41 76 566 05 60
About Xer Tech Holding AB (publ)
Xer Tech is a Swiss-based manufacturer of heavy-duty, long-range hybrid-electric unmanned aerial systems designed for industrial and governmental applications. Xer Tech's platforms support mission-critical dual-use operations including powerline inspections, mapping, surveillance, gas leak detection, emergency response and defense applications such as Intelligence, Surveillance, Reconnaissance and mine detection. Learn more at www.xer-tech.com.