As Lumito AB now has received payment corresponding to 90 percent of the subscribed shares in the oversubscribed share issue, registration and transfer of shares to the shareholders will commence. Once the remaining payments have been received, a supplementary registration will take place.
The rumours and speculations that have circulated on social media and the publicity that followed in connection with the share issue has affected the prospects to complete the listing process according to the company’s timetable. As a result of this, the cooperation with the company's Certified Adviser has been terminated.
Lumito's Board of Directors and executive management, together with our financial advisor, will continue the effort to complete the listing process; the intention is for listing to occur during the second half of 2018. Except for this, nothing has changed, and the company’s product development work is progressing in accordance with the communicated plans.
– We in the company regret that speculation and rumours beyond our control have caused such effects, but we are devoting all our efforts to developing Lumito and to continue the listing process, says Stefan Nilsson, CEO of Lumito.