Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) announced that it has received notifications regarding a disposal and acquisition of shares by its founder and board member, Mr. Svetlin Todorov, and his solely controlled company, Salisto Holdings LLC. The transactions, conducted as an in-kind contribution, involve the transfer of 1,184,995 shares, representing 6.53% of the Company's share capital and voting rights, from Mr. Todorov's direct holding to Salisto Holdings LLC.
This strategic move, disclosed under Art. 19 MAR and Art. 145 of the Public Offering of Securities Act, results in Mr. Todorov holding 21.26% directly and 6.53% indirectly through Salisto Holdings LLC, within the meaning of Art. 146 POSA. Crucially, the aggregate position controlled by Mr. Todorov remains unchanged at 27.79%, and there is no change in the ultimate beneficial owner of the shares or in the control exercised by Mr. Todorov over the Company.
The in-kind contribution is a restructuring of Mr. Todorov's holdings, likely aimed at consolidating his stake for estate planning, governance, or investment purposes. By transferring shares to a holding company he solely controls, Mr. Todorov maintains his influence over Shelly Group while potentially simplifying future decision-making or facilitating succession planning. This move underscores the stability of the Company's ownership structure, which is often a key consideration for investors.
Shelly Group SE develops, designs, and distributes IoT and smart building solutions for DIY and professional users, offering advanced technology, seamless interoperability, and a high degree of technological flexibility. Shelly products enable remote control and automation as well as energy management of electrical appliances and smart building solutions via smartphones, PCs, or third-party home automation systems. In addition to the sale of devices, the Shelly Group generates revenue from its cloud applications.
The Company benefits from an asset-light production model through the use of contract manufacturers. It has a strong presence in German-speaking countries and is represented with its products in more than 100 countries. With sales organizations in DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States and China, the Shelly Group has a broad international presence.
Shelly Group SE (ISIN: BG1100003166) is listed on the Bulgarian Stock Exchange and on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (XETRA: SLYG), and is included in the SDAX. For further information, please visit corporate.shelly.com.
