Share Dilution

Series TO1 warrants exercised approximately 75.3% and Veg of Lund receives approximately SEK 6.53 million

Today, Veg from Lund AB (pub) (“Vegetable of lund” or the “Company”) announces the result of the exercise of the series TO1 warrants (the “Warrants”), which were issued during the third quarter of 2021. In total, 590,865 subscription were exercised, corresponding to approximately 75.3% of the total number of Warrants in circulation, for the subscription of 590,865 shares at a subscription price of SEK11.06 per new share. Lund Vegetablesthus receives approximately 6.53 million Swedish crowns before issuing fees by exercising the Warrants.

“It’s gratifying that so many people have chosen to participate in the financing of Lund Vegetables and our continued launch of DUG®. The main shareholders and members of the Board of Directors have exercised their warrants and thus show their continued support in the important phase that the company is going through. We can now focus on increasing market share, mainly in the UK and Sweden while the board continues to actively evaluate various financing options to ensure the company’s long-term funding and optimal capital structure based on the ongoing launch,” said Emma Källqvist, interim CEO. and Chief Financial Officer of Lund Vegetables.

Context:

The exercise period of the Warrants took place from February 25, 2022 up to and including March 10, 2022. The subscription price per share subscribed by exercise of the BSAs was set at SEK11.06 as communicated by press release on February 24, 2022.

A total of 590,865 warrants were exercised to subscribe for 590,865 shares, which means that approximately 75.3% of all outstanding warrants were exercised to subscribe for shares.

The warrants exercised have been replaced by interim shares (IA), pending registration with the Swedish Companies Registration Office. The provisional shares should be converted into shares within approximately three (3) weeks.

Number of shares, share capital and dilution:

Through the exercise of the Warrants, the number of shares in Lund Vegetables increases by 590,865 shares, from 12,224,336 shares to 12,815,201 shares. The share capital increases with SEK37,815.360 from SEK 782,357.504 for SEK 820,172,864.

For existing shareholders who have not exercised any Warrants, the dilution amounts to approximately 4.6% based on the number of shares after the exercise of the Warrants.

Advisors

Mangold Fondkommission AB is the financial advisor and issuing agent and Fredersen Advokatbyrå is the legal advisor to Lund Vegetables within the framework of the exercise of the Warrants.

For more information regarding the Warrants, please contact:

Mangold Fondkommission AB
Telephone: +46 8 5050 1595
E-mail: [email protected]

For more information please contact:

Veg from Lund AB
Emma Källqvist (acting CEO and CFO)
Telephone: +46 721 869 018
E-mail: [email protected]

This information is such as Lund Vegetables is required to make public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the above contact person, the March 12, 2022 at 09:10 CET.

On Veg from Lund AB (pub)
Lund Vegetables develops unique plant foods that meet consumer demands for taste and sustainability. The company has roots in research at Lund University and has patented methods for developing new food categories in the growing plant-based food market. Lund Vegetables climate-smart and tasty products are sold in Europe and Asia under the DUG® Mark. The company’s stock is listed on the Nasdaq First North Growth Market under the symbol VOLAB. Learn more at ir.vegoflund.se. Mangold Fondkommission AB is the company’s certified advisor and can be contacted by telephone: +46 8 5030 15 50 or by e-mail: [email protected]

https://news.cision.com/veg-of-lund/r/warrants-of-series-to1-were-exercised-to-approximately-75-3-percent-and-veg-of-lund-receives- c3523755

https://mb.cision.com/Main/18795/3523755/1547521.pdf

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