Sustainable Energy Solutions

The Board of Directors of SENS has today decided to propose that an Extraordinary General Meeting resolves on the Rights Issue, in order to settle the Company's debts and finance the Company's operations during 2026. In 2024, the company issued convertible bonds that fell due and took out loans to finance the business in a shorter perspective. In order to improve the financial position for 2026, the Board of Directors, together with the Convertible Debenture Holders and the Lenders, has agreed and made the assessment that a rights issue is an appropriate approach to achieve this purpose.

The Convertible Holders, the Lenders and the Company have agreed that the Convertible Holders and the Lenders shall subscribe for shares, in accordance with the subscription or guarantee undertakings to be entered into, in the Rights Issue corresponding to their debt plus accrued interest, whereby payment of the shares shall be made by set-off of the claim. This means that the issue is intended to be secured to approximately 98 percent. The dilution for the existing shareholders who do not choose to participate in the planned Rights Issue is estimated to be approximately 98 percent.

To the extent that the Convertible Holders and the Lenders are not allotted shares corresponding to the full loan amount plus interest as a result of subscription with preferential rights, the Company will use the proceeds from the issue to repay the corresponding part of the loans in cash. The combined receivables of the convertible debentures and the Lenders amount to approximately SEK 69 million.

The Board of Directors is currently investigating the conditions for the implementation of the Rights Issue and will return with more detailed information about the structure and terms of the Rights Issue when the conditions have been clarified and a formal decision has been made. Notice of the Extraordinary General Meeting and further information about the Rights Issue will be announced through separate press releases.