SFD intends to conduct a share issue and transfer its listing to the GPW Main Market
The Management Board of SFD S.A. announces that it will convene an Extraordinary General Meeting of Shareholders (NWZA) and recommends adopting a resolution on the issuance of shares on NewConnect in the second half of 2021. The assumed proceeds from the issuance are to amount to a maximum of EUR 2.5 million, and the funds raised will be used to finance the development of the Company. The Company is capitalizing on the dynamically growing market conditions in the dietary supplements and sports nutrition sector. At the upcoming Extraordinary General Meeting, the Management Board will also recommend to the shareholders the transfer of the share listing from NewConnect to the main market of the Warsaw Stock Exchange (GPW) in the first half of 2022.
We have concluded a record-breaking year 2020. Our revenues increased by approximately 39%, and EBITDA by approximately 205%. We closed the year 2020 with a record net profit of nearly PLN 12 million. During the challenging times of the pandemic, our customers do not wish to give up physical activity and maintaining proper supplementation of the body.
This trend continues this year. Sales growth is supported by the development of e-commerce and logistics services, and we are capable of shipping up to 10,000 packages a day to our clients. In the first two months of this year, we recorded a 40% increase in sales compared to January and February last year. Such results are all the more pleasing given that the majority of our sales are our own brands, which are strengthening their positions on the Polish and foreign markets and exhibit high profitability. Therefore, we are investing in development.
– commented Mateusz Pazdan, President of the Management Board of SFD S.A.
On April 6, 2021, the Management Board of SFD S.A. adopted two resolutions of key importance to the Company's development. The Company will convene an Extraordinary General Meeting of Shareholders (EGM) in order for the shareholders to consent to the issuance of new shares within a public offering conducted by way of an open subscription, with the exclusion of pre-emptive rights, carried out pursuant to Article 37b of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies.
Proceeds from the issuance are expected to be no less than EUR 1 million up to a maximum of EUR 2.5 million, and the funds raised will be used to finance the Company's development needs in connection with increasing product sales. The share issuance will also increase the Company's free float and enable the expansion of the shareholder base to include institutional investors. The timing of the issuance is planned for the second half of 2021. Concurrently, the Company intends to build greater recognition among institutional and individual investors. Therefore, the Management Board will recommend to the upcoming EGM the adoption of a resolution on transferring the Company's listing from the NewConnect market to the Main Market of the Warsaw Stock Exchange (WSE) in the first half of 2022.