Seven executives of Thule Group including Magnus Welander and Stefan Jacobsson, who are respectively chief executive and chairman of the Swedish company, have exercised warrants issued since 2014, paying 84.90 Swedish kronor (€9.05-$9.88) per share. The transaction raises the total number of shares by 1,036,455 to 101,036,455, resulting in net proceeds of about 88 million SEK (€9.4m-$10.2m) for the company. Thule also repurchased 208,333 warrants from Frederic Clark, president of Thule Outdoor & Bags for the Americas, who did not exercise his warrants as an American citizen for regulatory reasons, and they have been cancelled. Following the transaction, the chairman and the senior management of the group jointly hold around 1.5 percent of the shares with combined value of about 157 million SEK (€16.7m-$18.3m).
Related articles
-
ArticlePomoca opens new HQ
The ski touring skins specialist opened a cutting-edge facility in Switzerland, combining sustainability, technology and regional collaboration to boost production capacity.
-
News briefsSpinnova and Suzano’s factory project faces delay
Technical challenges push back the pre-engineering phase for the wood-based fiber facility.
-
News briefsVF faces S&P downgrade due to weak financial performance
Financial challenges lead to a credit downgrade, highlighting the problems of large brand portfolios and operational setbacks.