ORTHEX CORPORATION: NOTIFICATION PURSUANT TO CHAPTER 9, SECTION 10 OF THE SECURITIES MARKETS ACT
Orthex Corporation, March 25, 2021 at 4.30 p.m. EET Stock exchange release (Flagging Notification)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, NEW ZEALAND, AUSTRALIA, JAPAN, HONG KONG, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Orthex Corporation: Notification pursuant to chapter 9, section 10 of the Securities Markets Act
Orthex Corporation (“Orthex“ or the “Company”) has today, on March 25, 2021, received a notification in accordance with Chapter 9, Section 10 of the Finnish Securities Market Act from Sponsor Partners Oy (“Sponsor“), according to which Sponsor’s indirect holding of the shares in and votes of the Company decreased to 11.59 percent and Sponsor’s indirect holding through financial instruments increased above the threshold of 5 percent on March 25, 2021.
The change was due to a share lending agreement entered into by Sponsor Fund IV Ky (“Sponsor Fund“), a partnership ultimately controlled by Sponsor, and Carnegie Investment Bank AB, Finland branch (“Carnegie“) in connection with the initial public offering of the Company, according to which Sponsor Fund has lent 1,584,158 shares in the Company to Carnegie on March 25, 2021. The share lending did not affect the aggregate total holdings of Sponsor, which amounts to 3,641,883 shares including the lent shares. Sponsor Fund has granted an over-allotment option described in the Company’s listing prospectus dated March 12, 2021 based on which Carnegie has a right to purchase a maximum of 1,584,158 shares from Sponsor Fund.
Total positions of Sponsor in the Company according to the notification:
| % of shares and voting rights | % of shares and voting rights through financial instruments | Total of both in % | Total number of shares and voting rights in issuer | |
| Resulting situation on the date which threshold was crossed or reached | 11.59 | 8.92 | 20.51 | 17,758,854 |
| Position of previous notification (if applicable) | – | – | – | – |
Notified details of the resulting situation on the date on which the threshold was crossed:
A: Shares and voting rights
| Number of shares and voting rights | % of shares and voting rights | |||
| Class/type of shares | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) |
| FI4000480504 | – | 2,057,725 | – | 11.59 |
| SUBTOTAL A | 2,057,725 | 11.59 | ||
B: Financial instruments according to the Finnish Securities Market Act 9:6 a
| Type of financial instrument | Expiration date | Exercise / Conversion Period | Physical or cash settlement | Number of shares and voting rights | % of shares and voting rights |
| Share lending in connection with the initial public offering | April 27, 2021 | – | Physical | 1,584,158 | 8.92 |
| SUBTOTAL B | 1,584,158 | 8.92 |
Further enquiries
Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 40 500 3826
alexander.rosenlew@orthexgroup.com
Saara Mäkelä, CFO, Orthex Corporation
Tel. +358 40 083 8782
saara.makela@orthexgroup.com
Orthex in brief
Orthex is a leading Nordic houseware company. Orthex designs, produces and sells household products with a mission to make consumers’ everyday life easier: Orthex strives to create functional, long lasting and sustainable high-quality household products. Orthex’s products cover multifunctional assortment of storage boxes, kitchen products and products for home and yard. Orthex markets and sells its products under three main consumer brands: SmartStore, GastroMax and Orthex. In addition, it sells externally produced kitchen products under the Kökskungen brand.
Orthex has more than 100 years of experience in the production, design and marketing of household products, and it has approximately 800 customers in more than 40 countries. Orthex’s core geographic markets include the Nordics (i.e., Finland, Sweden, Norway, Denmark and Iceland) and export markets, including Germany, France and the United Kingdom. Orthex is headquartered in Espoo, Finland, and it currently has seven local sales offices located in the Nordics, Germany, France and the United Kingdom. Orthex’s production facilities are located in Tingsryd and Gnosjö, Sweden, and in Lohja, Finland. In addition, Orthex has centralized warehousing in Sweden and Finland in connection with its Tingsryd and Lohja production facilities, as well as an outsourced warehouse in Überherrn, Germany.
Orthex aims to be the industry forerunner in sustainability by promoting safe and long-lasting products, reducing the carbon footprint of its operations and products, as well as by sourcing an ever-increasing amount of raw materials from bio-based and recycled materials. Orthex aims for its production process to be carbon neutral by 2030.