Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) has announced that it received notifications regarding a transfer of shares by one of its principal shareholders, Mr. Svetlin Todorov. The transaction, executed as an in-kind contribution, involves the disposal of 1,184,995 shares (representing 6.53% of the Company's share capital and voting rights) by Mr. Todorov to Salisto Holdings LLC, a company solely controlled by him. The acquisition by Salisto Holdings LLC was also disclosed under Art. 19 MAR and Art. 145 of the Public Offering of Securities Act.
As a result of this in-kind contribution, the shares have been transferred from the direct holding of Mr. Todorov to the direct holding of Salisto Holdings LLC. Consequently, Mr. Todorov will now hold 21.26% of the Company's shares directly and 6.53% indirectly through Salisto Holdings LLC, within the meaning of Art. 146 POSA. Importantly, the aggregate position controlled by Mr. Todorov remains unchanged at 27.79%. This transaction does not alter the ultimate beneficial owner of the shares or the control exercised by Mr. Todorov over Shelly Group SE.
The move is a strategic restructuring of Mr. Todorov's shareholding, likely aimed at consolidating his holdings under a corporate entity. This could facilitate estate planning, tax optimization, or governance streamlining. For minority shareholders and the market, the key takeaway is that the controlling interest remains stable, ensuring continuity in the Company's strategic direction. Shelly Group SE continues to operate under the same leadership and control structure, with Mr. Todorov's influence unchanged.
Shelly Group SE is a leading provider of IoT and smart building solutions, offering advanced technology and energy management capabilities. The Company benefits from an asset-light production model and has a broad international presence, with sales organizations in key regions including DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. Its products are available in over 100 countries. The Company is listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange (Prime Standard) under the ticker SLYG, and is included in the SDAX index.
This announcement reinforces the stability of Shelly Group's ownership structure, which is crucial for investor confidence. The transaction does not trigger any change in control or voting rights, and the Company's operations and strategic initiatives are expected to continue as planned. For more information, please visit corporate.shelly.com.
