Eniro’s major shareholders were paid to participate in the issue – Swedish newspaper Svenska Dagbladet

Eniro's major shareholders were paid to participate in the issue – Swedish newspaper Svenska Dagbladet

It appears from a letter to the Swedish Securities Council and it confirms Eniro’s Head of IR Cecilia Ketels for Direkt.

“The board felt that this was necessary to do it that way because it took from their (Staffan Persson and Danske Capital) side. And it was necessary that we had with them in the boat in order to implement this, “says Cecilia Ketels to Direkt.

The letter to the Swedish Securities Council is apparent that the players who have guaranteed Eniro’s issue, including Catella and Bure, has demanded that the major shareholders of the company should conclude its so-called pro-rata share of the issue would no warranties set out. That would issue fall before a proposal was launched and then also had the agreement with the banks were at risk – with the bankruptcy of a Eniro as one of the possible consequences.

Staffan Persson and Danske then demanded to receive the same compensation as the external guarantors, about 5 percent of the amount that the duo had undertaken to subscribe for.

Danske Capital owns about 10 percent of the shares in Eniro and therefore need to subscribe for approximately 45 million. Compensation ports thus in little more than 2 million. Staffan Persson owns 7.6 percent of the shares and will thus receive a compensation of 1.7 million.

Swedish Securities Council finds in its statement that “under normal circumstances”, not can be considered compatible with the general stock market to pay compensation to owners who undertake to subscribe in a share issue. But since Eniro is in financial crisis, with the risk of bank takeover and bankruptcy and with a limited number of action, finds Securities Council finally to the commitments are not contrary to good practice.