Results of Venetus proposed placing of shares in Theon International to strengthen the free float and liquidity of the stock

12 Mar 2025 07:04 CET

Results of Venetus proposed placing of shares in Theon International to strengthen the free float and liquidity of the stock

Theon International Plc (“Theon” or the “Company”) has been informed that its majority shareholder Venetus Limited (“Venetus”, a legal entity majority owned by Mr. Christianos Hadjiminas, Vice Chairperson of the Board of Directors and CEO of the Company) has successfully completed the sale of approximately 3.2 million shares in Theon equal to approximately 4.5% of the share capital of the Company (the “Placing”).

Following the settlement of the Placing, Venetus will hold approximately 65.8% of the share capital of the Company.

The Placing, carried out through an accelerated bookbuilding procedure, was priced at Euro 17.7 per share and will be settled by delivery of shares against payment of the consideration on 14 March 2025.                

Pursuant to the lock-up undertaking for the Placing, Venetus and CHRE Investments Ltd ("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.

Venetus aim is to increase the free float of the Company and subsequently improve liquidity of Theon shares, whilst maintaining the aggregate position of Venetus and CHRE (the latter, currently owning 9.5% of the Company share capital) at a level above 75% of the Company share capital. The Company will not receive any proceeds from the Placing. In connection with the transaction, Berenberg and UBS Europe SE acted as Joint Global Coordinators and Joint Bookrunners.

Christian Hadjiminas, CEO and Founder of Theon commented: “We have been exceptionally pleased with the response to the placement from many new and existing institutional investors. The final order book was multiple times oversubscribed, demonstrating investor confidence in our strong growth plans. Importantly, the larger free float, something consistently and repeatedly requested by investors, will support momentum and ease access to Theon shares. We are proud of what we have achieved as a team. Due to the recent tailwinds in the sector we operate in, we are today even more confident that we will continue performing better and delivering superior shareholder returns.”

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press-releaseabb-results-12032025vff.pdf