Communiqué from Boliden's Extraordinary General Meeting

Rhea-AI Summary

At Boliden's Extraordinary General Meeting held on January 23, 2025, in Stockholm, shareholders approved a significant resolution authorizing the Board of Directors to issue new shares. The authorization allows for multiple share issues until the Annual General Meeting 2025, with or without preferential rights for existing shareholders.

If executed without preferential rights, the new share issuance is capped at 15 percent of the total shares outstanding as of the Extraordinary General Meeting date. The primary purpose of this share issuance is to optimize capital structure and refinance approximately half of the bridge loan used to acquire Neves-Corvo and Zinkgruvan operations.

Positive

• Flexibility in capital raising through multiple potential share issuances
• Clear cap of 15% on share issuance without preferential rights
• Strategic refinancing of acquisition-related bridge loan

Negative

• Potential shareholder dilution up to 15% if issued without preferential rights
• Additional debt burden from bridge loan requiring refinancing

Boliden's Extraordinary General Meeting was held on January 23, 2025 live in Stockholm and through postal voting.

STOCKHOLM, Jan. 23, 2025 /PRNewswire/ --

Resolution on authorization for the Board of Directors to resolve on new share issues

The Meeting resolved, in accordance with the Board of Directors' proposal, to authorize the Board of Directors to, on one or more occasions during the period up to the Annual General Meeting 2025, resolve on a new issue of shares with or without preferential rights for the company's shareholders. If a share issue is carried out without preferential rights for the company's shareholders, the total number of shares that may be issued may not exceed the number of shares which corresponds to 15 percent of the number of shares as of the date of the Extraordinary General Meeting. The purpose of a share issue shall be to raise proceeds to achieve an efficient capital structure and refinance approximately half of the bridge loan secured to finance the acquisition of Neves-Corvo and Zinkgruvan.

Minutes

The minutes with complete resolutions from the Meeting will be available on the company's website at https://www.boliden.com under "Operations/Corporate Governance/Annual General Meetings". A copy of the minutes, except for the voting list, will also be sent to shareholders who request it from the company and who provide their postal address.

For further information, please contact:

Klas Nilsson
Director Group Communications
+46 70 453 6588
klas.nilsson@boliden.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/boliden/r/communique-from-boliden-s-extraordinary-general-meeting,c4094974

The following files are available for download:

https://mb.cision.com/Main/997/4094974/3221144.pdf

Press release

View original content:https://www.prnewswire.com/news-releases/communique-from-bolidens-extraordinary-general-meeting-302358686.html

SOURCE Boliden

FAQ

What was the main resolution passed at Boliden's January 2025 Extraordinary General Meeting?

The meeting approved authorization for the Board of Directors to issue new shares, with or without preferential rights, until the Annual General Meeting 2025.

What is the maximum dilution possible from Boliden's new share issuance authorization?

If issued without preferential rights, the maximum dilution is capped at 15% of the total shares outstanding as of the January 23, 2025 Extraordinary General Meeting.

What is the purpose of Boliden's planned share issuance?

The share issuance aims to optimize capital structure and refinance approximately half of the bridge loan used to acquire Neves-Corvo and Zinkgruvan operations.

How long is Boliden's Board authorized to issue new shares?

The Board is authorized to issue new shares on one or more occasions from January 23, 2025, until the Annual General Meeting 2025.