Scandinavian Enviro Systems AB (publ) board and management subscribe for another 730,905 units in ongoing Rights Issue

Scandinavian Enviro Systems AB (publ) (”Enviro” or ”the Company”) announces today that the Board of Directors and Management will subscribe for an additional 730,905 units in the current rights issue with units of shares and warrants ("Rights Issue"), published on October 26, 2018. This press release refers to subscriptions in addition to the subscriptions of 2,185,415 units already entered into by the Board and Management.

The terms of the Rights Issue include two (2) newly issued shares and two (2) warrants for each subscription and allotment unit. One (1) warrant entitles the holder to subscribe for a (1) newly issued share during the period from September 2 to September 13, 2019. The Rights Issue is covered by 4.9 percent of subscriptions and 75.1 percent of external guarantee commitments. Thus, 80 percent of the amount in the Rights Issue is comprised of subscriptions and guarantee commitments.

In addition to the subscriptions already signed, the Board and Management will subscribe for an additional 730,905 units. This is divided into:

Board member, Jan Bruzelius

Board member, Lennart Persson

These additional commitments from Enviro's Board and Management leads to a total subscription of 2,916,320 units in the Rights Issue.

Schedule for the Rights Issue:

December 18, 2018: Deadline for subscription in the Rights Issue

December 20, 2018: Publication of results

For more information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43,
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11,
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733 149 700,

Scandinavian Enviro Systems AB 
Regnbågsgatan 8C 
SE-417 55 Gothenburg, Sweden

Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the Nasdaq First North securities exchange with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, as its Certified Advisor.