Results of Venetus' proposed placing of shares in Theon International to strengthen the free float and liquidity of the stock
Bloomberg (THEON:NA) / Reuters (THEON.AS)4 June 2025 - Theon International Plc ('Theon' or the 'Company') has been informed that its shareholder Venetus Limited ('Venetus') (whose shares are primarily held by key executives of Theon Group and Theon CEO, Christianos Hadjiminas), has successfully completed the sale of approximately 3.73 million shares in Theon equal to approximately 5.3% of the share capital of the Company (the 'Placing'). The final deal was upsized from initial indications.
The Company will not receive any proceeds from the Placing. Venetus' aim is to increase the free float of the Company and subsequently improve liquidity of Theon shares. In connection with the transaction, Berenberg and UBS Europe SE acted as Joint Global Coordinators and Joint Bookrunners, while WOOD & Company Financial Services A.S. is acting as Co-Bookrunner, and Marex SA and Pantelakis Securities SA are acting as Co- Lead Managers.
Following the settlement of the Placing, Venetus and CHRE Investment Limited ('CHRE') (a legal entity controlled by Mr. Christianos Hadjiminas) will hold approximately 70.0% of the share capital of the Company and the free float will increase to 30.0%.
The Placing, carried out through an accelerated bookbuilding process, was priced at Euro 31.1 per share and will be settled by delivery of shares against payment of the consideration on 6 June 2025.
Pursuant to the lock-up undertaking for the Placing, Venetus and CHRE will be subject to a 90-day lock-up period with respect to sales of additional shares of the Company, subject to customary exceptions.
Berenberg and UBS Europe SE waived the lock-up undertaking of the Venetus related to the placing executed earlier this year, commencing on 14 March 2025 and ending 90 days thereafter.
Christian Hadjiminas, CEO and Founder of Theon commented: 'We are very satisfied with the successful outcome of our recent placement and the strong interest demonstrated by both existing and new investors. The multiple times oversubscription, with almost double the demand compared to the previous placement, underscores the continued confidence the global investment community places in Theon. We believe the increased free float will enhance trading liquidity and support our positive market momentum. We remain committed to executing our long-term growth strategy and increasing shareholder value'.For inquiries, please contact:
Investor RelationsNikos MalesiotisE-Mail: ir@theon.comTel: +30 210 6772290
Media ContactElli MichouE-Mail: press@theon.com Tel: +30 210 6728610About THEON GROUP
THEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 200,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024.
www.theon.com
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Venetus Placement Results Press Release
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What is a deed of trust?
Key takeaways A deed of trust is a legal agreement used in real estate transactions in which a third party — the trustee — holds the title to the property until the borrower repays the mortgage. A mortgage is a similar agreement, but it doesn't involve a third party. The borrower or lender — depending on state law — holds the title. Both agreements obligate the borrower to repay the home loan, with the home serving as collateral if they default. What is a deed of trust? A deed is a legal document that shows who has title to — or ownership of — a piece of property. And a deed of trust, or a 'trust deed,' is a deed that gets put into a trust. Like a mortgage, a deed of trust agreement obligates the borrower to repay a home loan, with the home serving as collateral if they default. Deeds of trust are used instead of mortgages in some states. How does a deed of trust work? There are three parties in a deed of trust: the lender, the homebuyer or borrower, and the trustee. The trustee is a third party who plays the role of intermediary for the real estate transaction, usually a title company or escrow company. It can also be another party, such as an attorney or bank. Here's how the process works: Shop Top Mortgage Rates A quicker path to financial freedom Your Path to Homeownership Personalized rates in minutes The lender gives the borrower the funds to make the home purchase. In exchange, the borrower provides the lender with a promissory note. This outlines the terms of the loan and the borrower's promise to pay. The borrower transfers the real property interest — or the right to the particular piece of real estate — to the trustee. The trustee holds the deed until the borrower repays the lender, at which point the borrower receives the deed. Is a deed of reconveyance the same as a deed of trust? A deed of trust is not the same as a deed of reconveyance. A deed of trust is used when you first take out a loan, and a deed of reconveyance is a legal document confirming that your home loan has been fully paid off. It proves that your lender has removed the lien on your property and transferred ownership of the property to you. Deed of trust vs. mortgage Both a deed of trust and a mortgage are agreements between a lender and a borrower to fund and repay a home loan. Both also state that the home serves as collateral for the loan, meaning if the borrower stops repayment, the lender has recourse. A deed of trust, however, adds a third party to the agreement: a trustee, an unbiased third party that holds the property's title while the loan is being repaid. A mortgage, on the other hand, involves only the lender and the borrower. Deeds of trust and default The differences between a mortgage and a deed of trust become important in cases of default. If a borrower fails to repay a mortgage, it's 'usually foreclosed judicially, through the court system,' according to Amy Loftsgordon, legal editor at Nolo. Judicial foreclosure is a lengthy process that involves expensive legal fees. If the borrower defaults on a loan secured by a deed of trust, the trustee has the right to take control of the property. 'Deeds of trust are usually foreclosed through an out-of-court, nonjudicial process,' Loftsgordon says. Nonjudicial foreclosure typically happens more quickly than judicial foreclosure. Learn more: Calculate your monthly mortgage payment State laws and deeds of trusts 'A deed of trust is not recognized by all states,' says Kevin Frankel, a partner at Fiffik Law Group. According to Rocket Lawyer, deeds of trust are used exclusively in 25 states and the District of Columbia, while nine states permit both the use of deeds of trust and mortgages. In the states that allow both mortgages and deeds of trust, such as Arizona and Michigan, the lender can choose which to use. Lenders typically opt for the deed of trust, as it speeds foreclosure proceedings if the borrower defaults. FAQ How does a deed of trust impact foreclosure? Under a deed of trust, if the borrower is in default, the property can be sold by the trustee without going through a costly, lengthy legal procedure. The process is known as a nonjudicial foreclosure. Nearly all deeds of trust include a power-of-sale clause, which allows the trustee to sell the home without needing to foreclose on it first. Alternatively, borrowers may pursue a deed in lieu of foreclosure. Can a deed of trust be transferred? Deed of trust transfers operate similarly to mortgage transfers, though neither one is especially common. Whether buying a house with a deed of trust or a mortgage, the transferee will most likely need to enter into a new arrangement as part of the sale. However, in certain circumstances, like a property owner's death, divorce or living will proceeding, both mortgage and deeds of trust can be transferred. The appropriate authorities — usually a municipal government — will have to record the transfer, just like they would for a purchase agreement. And, Frankel says, 'Based on the terms of the deed of trust, it may be assigned if all three parties agree in writing.' What is the difference between a deed of trust and promissory note? To compare a deed of trust to a promissory note, think of the deed of trust as the whole agreement while the promissory note is just one part. The promissory note focuses on the borrower's commitment to repay the lender. The deed of trust is an overarching document that specifies what happens if the borrower defaults on the loan. 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