Serneke's rights issue oversubscribed

The result shows that 3,060,929 series B shares, corresponding to approximately 95.5 per cent of the offered shares in the rights issue, have been subscribed for by the exercise of subscription rights. The remaining 143,851 series B shares that were not subscribed for with subscription rights have been allocated to those who have subscribed for shares without subscription rights in accordance with the principles described in the prospectus. Interest in the rights issue has been high and consequently the rights issue was oversubscribed by 87 per cent. The rights issue is fully subscribed and none of the underwriting commitments have been utilised.

Notification regarding allotment of shares which have been subscribed for without subscription rights will be distributed on or about 19 January 2021 by a settlement note to subscribes or nominees. Subscribed and allotted new shares shall be paid in cash on the settlement date in accordance with the instructions on the settlement note, on or about 22 January 2021. Nominee registered shareholders will receive notification regarding allotment of shares in accordance with the respective nominee's procedures.

Through the rights issue Serneke will receive proceeds of approximately SEK 170 million before transaction costs. As a result of the rights issue, Serneke's share capital will increase by SEK 320,478 to SEK 2,875,323.20. The total number of shares will increase by 3,204,780 shares to 28,753,232 shares.

The final day for trading in paid subscribed shares (BTA) are expected to take place during week 4, 2021. The new shares are expected to start trading on Nasdaq Stockholm during week 4, 2021.

Advisers
In connection with the Rights Issue, Serneke has appointed Setterwalls Advokatbyrå as legal adviser.

Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction where such offer would be considered illegal. This press release does not constitute an offer to sell or an offer to buy or subscribe for shares issued by the Company in any jurisdiction where such offer or invitation would be illegal. In a member state within the European Economic Area ("EEA"), securities referred to in the press release may only be offered in accordance with applicable exemptions under Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the "Prospectus Regulation").

This press release is not an offer or invitation to acquire or subscribe for shares or other securities in the United States. The securities that have been mentioned in this release are not allowed to be sold in the United States without registration, or without application of an exception from registration, according to the applicable U.S. Securities Act from 1933 ("Securities Act"), or as a part of a transaction that is not covered by the registration requirements according to the Securities Act. There is no intention to register any shares or securities mentioned herein in the United States or to announce a public offering of such securities in the United States. The information in this press release shall not be published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States of America or any other jurisdiction in which the release, publication or distribution of this information would be unlawful or where such action is subject to legal restrictions or would demand additional registration or other actions according to Swedish law. Acts in contrary to this instruction can constitute a crime according to applicable securities laws.

The prospectus that has been prepared in connection with the rights issue described in this press release was published by the Company on 28 December 2020. The prospectus has been approved and registered by the Swedish Financial Supervisory Authority (Sw: Finansinspektionen) and is available on Serneke's website, https://www.serneke.se/. The approval of the prospectus by the Swedish Financial Supervisory Authority shall not be regarded as an approval of the shares. This release is however not a prospectus in accordance to the definition in the Prospectus Regulation. Serneke has not authorized any offer to the public of shares or rights in any other member state of the EEA than Sweden. This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in shares. An investment decision to acquire or subscribe for shares in the Rights Issue shall only be made based on publicly available information.

To the extent this press release contains forward-looking statements, such statements does not constitute facts and are characterized by words such as "shall", "expect", "believe" "assess", "intend", "estimate" and similar expressions. Such statements reflects Serneke's intentions, views or present expectations or assumptions. Such forward-looking statements are based on Serneke's current plans, estimates and projections, which have been made to the best of Serneke's ability. However, Serneke does not assert that these statements will be correct in the future. Forward-looking statements are associated with risks and uncertainties which are difficult to predict and which generally cannot be affected by Serneke. It should be contemplated that actual events or outcomes may differ materially from what is included or expressed in such forward-looking statements.