17
May 2022
Zhoda Investments’ rights issue oversubscribed

Zhoda Investments (“Zhoda”) has successfully completed an issue of shares with preferential rights for shareholders. The issue was oversubscribed by 11 per cent and raised SEK 13.1 million before issue costs. 

“We are very pleased with the strong interest shown in Zhoda’s rights issue. The strengthened financial position enables us to develop the wine operations within Testament Winery. Our goal is to create Croatia’s best wine and to become the country’s leading exporter of premium wines. We will also be able to maintain and with time develop the oil operations in Ukraine. It is the opinion of the company that the operations will return to normal once the situation in the country has stabilized. All oil produced at Zhoda’s field is consumed in Ukraine and therefore reduces the country’s energy dependence on Russia and Belarus. On a final note, I want to express my gratitude to the shareholders for the continued support to Zhoda Investments”, says Robert Karlsson, CEO of Zhoda Investments.

A total of 212,195,735 shares, equivalent to 81 per cent, were subscribed for based on preferential rights. A further 77,076,186 shares were subscribed for without rights, which resulted in an oversubscription of 11 per cent. Shares subscribed without rights were allotted in accordance with the principles set out in the information memorandum published on 22 April 2022. A subscription note with payment instructions will be sent to those investors. 

As a result of the issue, the share capital will increase by SEK 7,000,000 kronor from SEK 10,500,000 to SEK 17,500,000. The number of A shares will increase by 10,666,600 from 15,999,900 to 26,666,500 and the number of B shares will increase by 250,590,858 from 375,886,287 to 626,477,145. Following the issue, the number of shares will amount to 653,143,645 and the number of votes to 893,142,145. 

For more information, please contact:

Robert Karlsson, CEO Zhoda Investments AB

+46 709 565 141, robert.karlsson@zhodainvestments.com

www.zhodainvestments.com

About Zhoda Investments

Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. In the coastal region of Dalmatia in Croatia, Zhoda owns and manages Testament Winery and Black Island Winery. Based on indigenous organic grapes and a two thousand year old wine tradition, it is Zhoda’s award-winning winemakers’ objective to create Croatia’s best wine and to become the country’s leading exporter of premium wines. The vision is to reach a production of one million bottles per year. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. For more information, visit www.zhodainvestments.com.

This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.