Pressreleaser | 17 Feb 2023 | Smart Wires

Smart Wires: SMART WIRES APPLIES FOR DELISTING OF ITS SDRS FROM NASDAQ FIRST NORTH GROWTH MARKET SWEDEN

The Board of Directors of the Company has today resolved to proceed with its application for delisting of its SDRs from Nasdaq First North Growth Market.

The primary reason for applying to delist the SDRs is that the Company’s Board of Directors has determined that such action is in the best interests of the Company and its shareholders, taking into consideration the evolution of trading since the Company listed their SDRs on Nasdaq First North Growth Market in May of 2021, noting that the Board of Directors believes the trading volumes of and market prices for the SDRs may not be reflective of the Company’s value proposition. The Company has also considered the additional costs related to maintaining the listing of the SDRs on the Nasdaq First North Growth Market weighed against its benefits, as well as the administrative burden of complying with the listing rules.

If Nasdaq Stockholm AB approves the Company’s application for delisting of its SDRs, Nasdaq Stockholm AB will decide and announce the last day of trading in the Company’s SDRs. Thereafter, the Company’s SDR program will be discontinued and holders of SDRs will be entered as shareholders in the Company’s register of members.  Information regarding the SDR program will be provided by Pareto Securities, which is the depository bank for the SDR program.

The Board of Directors of the Company is not expecting to apply for listing of the Company’s shares on any other stock exchange or trading platform in the foreseeable future.

Further information regarding the delisting, including last day of trading, will be provided once Nasdaq Stockholm AB has decided on the Company’s application to delist.