Simris CEO and Founder Transfers Unit Rights to Beauty Industry Veteran in Ongoing Rights Issue

 - IMPORTANT INFORMATION: NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO THE USA OR ANY OTHER JURISDICTION WHERE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE ILLEGAL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO OBTAIN OR SUBSCRIBE TO SECURITIES IN SIMRIS IN ANY JURISDICTION, NEITHER FROM SIMRIS OR ANY OTHER PARTY.

STOCKHOLM, July 7, 2020 /PRNewswire/ --  Simris (FNSE: SIMRIS), a Swedish agribusiness growing algae to replace unstainable marine ingredients, is currently raising capital through a 29.1 MSEK rights issue. Founder and CEO Fredrika Gullfot has transferred unit rights to an investment entity associated with beauty industry veteran Steven Schapera, who participates in the rights issue with a subscription of 480 000 units corresponding to circa 1.3 MSEK.

Steven Schapera has more than 30 years' experience founding and building businesses across agricultural, wine, and cosmetics industries. He is regarded as an expert in the global cosmetics industry, having co-founded BECCA Cosmetics in 2001 and exited to Estée Lauder in 2016. He continues to serve as Chairman of BECCA Holdings, the original investment entity. He also serves as Chairman of ASX and FRA-listed Crowd Media Holdings Ltd, and serves on a number of other Boards in the health/beauty/wellness space.

Founder and CEO Fredrika Gullfot is the second largest shareholder in Simris with 4.7 percent of the stock and 5.8 percent of the voting rights. To facilitate the investment by Steven Shapera's investment entity, Fredrika Gullfot has transferred unit rights corresponding to 480 000 units (1 440 000 shares, circa 1.3 MSEK). The transfer of the unit rights has been filed with Sweden's financial supervisory authority, in accordance with regulations for insiders' transactions. The unit rights have been transferred free of charge and Gullfot obtains no financial benefits from the transaction.

"It has been important for us to open our network to international investors," says Fredrika Gullfot. "Both our shareholder structure and market launch benefit greatly from new investors with solid background in our industry. Steven has a unique mix of skills, network and experience relevant to Simris and our plans, and I am excited to welcome Steven among our shareholders."

Simris currently seeks to raise SEK 29.1 million through a rights issue of units at 0.90 SEK per share. The company may receive an additional SEK 1.9 - 38.8 million through exercise of attached warrants. The rights issue is secured to 50 percent through subscriptions and underwriting commitments. Last day of the subscription period is 8 July 2020.

FOR MORE INFORMATION, PLEASE CONTACT:

Fredrika Gullfot,
CEO Simris
Tel: +46-761-345-474,
email: gullfot@simris.com

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