Results of Venetus' proposed placing of shares in Theon International to strengthen the free float and liquidity of the stock
By GlobeNewswire Published on June 4, 2025, 17:18 IST
PRESS RELEASE
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:
About 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
Attachment Venetus Placement Results Press Release
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 hours ago
- Yahoo
GreenPower Closes Third Tranche of Term Loan Offering
VANCOUVER, BC, June 8, 2025 /CNW/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, announces the closing of the third tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $300,000 (collectively the "Loans"). Please refer to the Company's news release dated May 13, 2025 for more details regarding the term loan offering. In connection with the Loans, the Company entered into respective loan agreements with companies controlled by the CEO and a Director of the Company (the "Lenders"). Management anticipates that the Company will allocate the net proceeds from the Loans towards production costs, supplier payments, payroll and working capital. The Loans are secured with a general security agreement on the assets of the Company subordinated to all senior debt with financial and other institutions and will bear interest of 12% per annum commencing on the date of closing (the "Closing Date") to and including the date all of the Company's indebtedness pursuant to the Loans is paid in full. The term of the Loans will be two years from the Closing Date. As an inducement for the Loan, the Company issued 340,909 non-transferable share purchase warrants (each, a "Loan Bonus Warrant") to one of the Lenders. Each Loan Bonus Warrant entitles the holder to purchase one common share of the Company (each, a "Share") at an exercise price of U.S. $0.44 per Share for a period of twenty-four (24) months from the closing date of the Loan. In addition, one Lender will be issued an aggregate of 68,181 Shares (each a "Loan Bonus Share"). The Lenders are each considered to be a "related party" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and each of the Loans and issuance of Loan Bonus Warrants and Loan Bonus Shares, as applicable, is considered to be a "related party transaction" within the meaning of MI 61-101 but each is exempt from the formal valuation requirement and minority approval requirements of MI 61-101 by virtue of the exemptions contained in section 5.5(a) and 5.7(a) as the fair market value, in each case, of the Loans, the Loan Bonus Warrants, and the Loan Bonus Shares, as applicable, is not more than 25% of the Company's market capitalization. All securities issued in connection with the Loans will be subject to a statutory hold period of four months plus a day from the closing of the Initial Loan in accordance with applicable securities legislation. For further information contact: Fraser Atkinson, CEO (604) 220-8048 Brendan Riley, President(510) 910-3377 Michael Sieffert, CFO(604) 563-4144 About GreenPower Motor Company designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to Forward-Looking Statements This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the use of proceeds of the Loan. Although the Company believes that and the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that the proceeds of the Loan may not be used as stated in this news release, and those additional risks set out in the Company's public documents filed on SEDAR+ at and with the United States Securities and Exchange Commission filed on EDGAR at Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ©2025 GreenPower Motor Company Inc. All rights reserved. View original content to download multimedia: SOURCE GreenPower Motor Company View original content to download multimedia:
Business Insider
17 hours ago
- Business Insider
American tourists can't quite quit Europe
The American dream may be struggling, but for many, the Euro summer dream is alive and well. Jimin Shim, a millennial copywriter who lives in Denver, has plenty of concerns about the economy, from stock market volatility that she feels has been brought on by the current administration to a tough job market. Still, she's vacationing in Portugal later this month, and treating her mom to the trip too. "Traveling is very important to me. I try to do at least one international trip a year and then maybe a couple of domestic trips," she told Business Insider. "And because I know that that is a priority for me, it's something that I budget for and am saving up for all year round." While there's been some softening in leisure travel demand this year, data and surveys suggest Shim is one of many Americans who are weighing their international travel plans against their worries about the economy and saying, "book it." The extent to which Americans are pulling back on international trips this summer is not fully clear. An analysis from Cirium, an aviation analytics company, found summer bookings from the US to Europe were down nearly 10% from January to May compared to last year. Meanwhile, a summer travel survey from Deloitte, released in May, found more Americans were traveling internationally this summer compared to 2024, with most headed to Europe. And a recent data analysis by Allianz Partners, a travel insurance and assistance company, found summer travel from the US to Europe would increase by 10% in 2025. The economy isn't the only reason Americans might rethink travel to Europe this summer. The weakening US dollar doesn't go as far as it used to, and some Americans are worried about their safety or not feeling welcomed abroad due to the current administration's approach to foreign policy. Americans are also waiting longer to book their trips, which could complicate the picture. Still, it's clear that many Americans are traveling abroad despite the downturn in consumer sentiment. "I think you're seeing a hesitancy," Amir Eylon, president and CEO of Longwoods International, a market research consultancy that specializes in the travel tourism industry, told BI. "I still believe a majority of American travelers who were planning to go abroad are still going to go abroad." The enduring appeal of Euro summer Eylon said that while there are indications of a slowdown, it does not look like a "game-changing" shift. His firm's monthly consumer sentiment survey of 1,000 travelers found the number of American travelers who said they were very likely to take an international trip in the next 12 months declined from 25% in January to 19% in May. He noted travelers seemed to be in a "wait and see" mode this spring, echoing what other industry experts have said and previously told BI — that travelers are booking closer to travel dates, in part as they search for good deals. Eylon said it is possible there will be an overall decline in Americans visiting Europe this year, but it's too soon to tell the full picture. He thinks those canceling or ditching trip plans will be in the minority. "American travelers view it as a need more than a want," he said of travel, adding that many see it as a "right." Meredith Pierce, a travel content creator based in Atlanta, said that's exactly how she and many other millennials and Gen Zers view travel, including to Europe. Pierce posts a lot of popular "Euro summer" content and sees it as a persistent and lasting travel trend, even when folks have financial concerns. "Everyone loves the idea of sipping an Aperol spritz and looking at the Mediterranean," Pierce said, "especially if maybe you are stressed in your day-to-day life because of politics or the economy or budgets, or anything like that. A bit of escapism I think comes into play there as well." The hesitancy fueled by economic uncertainty could also make it a bit more affordable to travel to Europe this summer. Eylon noted the slowdown in leisure travel led to some declines in airfare prices, which may have pushed some hesitant Americans to take the plunge. When economic concerns, largely fueled by Trump's tariff policy, intensified in March and April, some airlines suspended their forecasts for the year, and flight prices declined. Rather than get spooked by the economic uncertainty, Pierce believes plenty of people pounced. Her "Euro summer" content from last year started going viral, and she was getting flooded with DMs and questions from people who found a cheap flight to Europe and were suddenly planning their trips. Pierce said some budget-conscious travelers are opting for more affordable and under-the-radar destinations in Europe, such as Albania or Poland, which feature similarly picturesque scenes but at a lower cost than Italy or Paris. More frugal spending once they get to their destination Deloitte's summer travel survey noted that many American travelers already had their big summer trips partially or even fully booked by April, when concerns around tariffs and the economy intensified. The survey also found that while consumers' sense of financial well-being was down year-over-year in April, slightly more Americans planned to take leisure vacations this summer compared to 2024. Deloitte found travelers looking to save were cutting back on in-destination spending as well as opting for more affordable lodging and flight classes. The survey also found that while some are being more frugal, many Americans are prioritizing bucket list trips and international travel, or trips that are otherwise special in some way. Deloitte found 42% of air travelers were flying internationally on their longest summer trip, compared to 38% in 2024. Those traveling internationally were also more likely to increase their travel budget compared to last year. Shim, the copywriter from Denver, also has a special reason for making her Portugal trip work this year, despite her financial concerns. Her family has been going through a tough time after her grandfather's death last year. This vacation is a way to spend quality time with and treat her mom, who has never been to Europe, and take the first trip that's just the two of them. "I also think that sometimes in these times of uncertainty and tumultuousness and a lot of tension and division, traveling and spending quality time with family who loves you is a great way to just take care of your mental and emotional health too," she said, "which I think is also very important to do."
Business Wire
a day ago
- Business Wire
ABL Investors Have Opportunity to Join Abacus Global Management, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Abacus Global Management, Inc. ('Abacus' or 'the Company') (NASDAQ: ABL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Abacus is the subject of a report issued by Morpheus Research on June 4, 2025, titled: 'Abacus Global Management: This $794 Million SPAC Is Yet Another Life Settlements Accounting Scheme Manufacturing Fake Revenue by Systematically Underestimating When People Will Die.' According to the report, the Company changed its portfolio valuation methodology to make it appear more profitable than it actually is. The report also alleges that the Company uses unusual methodologies to calculate life expectancy estimates and its co-founders have 'red flags' in their past. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
