MTI Investment
The board of MTI Investment proposes conversion from a European company to a public limited liability company
The board of directors of MTI Investment SE ("the Company" or "MTI Investment") has today, on April 29, 2024, resolved to propose to the shareholders at the upcoming annual general meeting of the Company to adopt a resolution to convert the Company from its current legal form as a European company (SE) to a Swedish public limited liability company and to submit an application to the Swedish Swedish Registration Office for registration in accordance with the provisions of Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company (SE). The board's proposal for conversion will be announced in the Swedish Official Gazette (Sw. Post and Inrikes Tidningar).
The proposal for conversion has mainly been prepared and submitted with the aim of simplifying the accounting in the Company by changing the reporting currency from euro ("EUR"), which is the mandatory reporting currency for Swedish European companies, to Swedish krona ("SEK"). The majority of the Company's operations are conducted in Sweden using SEK, and the use of EUR as the reporting currency therefore results in more complicated accounting than if SEK were used, as well as the potential for currency exchange rate effects. The first step to implementing the change of reporting currency is to convert the Company from a European company to a Swedish public limited liability company. Thereafter, the Swedish Tax Agency must, as a general rule, approve the change of reporting currency. The change of reporting currency can only take place from the financial year following the year in which the shareholders' meeting's resolution to amend the articles of association and thereby the new legal form has been registered with the Swedish Companies Registration Office. The Company has calendar year as its financial year, which means that the Company can begin using SEK as the reporting currency from January 1, 2025, at the earliest, provided that the annual general meeting adopts the necessary resolutions related to the conversion, which will be presented in more detail in the notice convening the annual general meeting to be published through a separate press release.
The implementation of the conversion is thus conditional on the annual general meeting of the Company, planned to be held in June 2024, resolving to convert the Company from a European company to a Swedish public limited liability company.
The board assesses that the conversion will have limited or no impact on the Company's employees and is not expected to result in any significant tax effects. The board further assesses that the conversion will not adversely affect the Company's shareholders.
Advisor
Qap Legal Advisors AB is the legal advisor to MTI Investment in connection with the conversion.
For additional information
Pontus Engström, CEO, MTI Investment SE
pontus.engstrom@mti-investment.com
+46 70 716 55 38
About MTI Investment SE
MTI operates at the intersection of venture capital and impact investing. Our goal is to become a leading investment company active in one of the foremost growth markets in the world, East Africa. With a diversified team rooted in both the Nordic region and East Africa, we have forged a unique position with capital and expertise from the Nordics, and a strong network and trust capital from local entrepreneurs in Africa. Founded in the Nordic financial industry, backed by capital-rich and experienced investors, as well as foundations owned by industrial families, MTI Investment brings significant competitive advantages to portfolio companies, sustainable transformation in the region, and high returns to our investors.
The MTI Investment share (MTI) is traded on the Nasdaq First North Growth Market.
Certified Adviser to MTI Investment is Mangold Fondkommission AB.
Read more on: www.mti-investment.com
| Datum | 2024-04-29, kl 16:27 |
| Källa | beQuoted |
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