22.11.2024 20:24:41 EET | Duell Oyj | Company Announcement

Duell Corporation (“Duell” or “Company”) has today, November 22, 2024, on the previously announced combination date executed a reverse split, i.e., the reduction of the number of shares in the Company, and a related directed share issue without consideration, redemption of shares and cancellation of shares. After these measures, the new number of shares in the Company is 5,194,374. The new number of shares has been registered with the Trade Register maintained by the Finnish Patent and Registration Office today, November 22, 2024, and trading with the new total number of shares in the Company commences on Monday November 25, 2024 with a new ISIN code FI4000582143. Duell’s trading code DUELL will remain the same.

Duell’s Annual General Meeting resolved on November 20, 2024 on the reverse split and on a related redemption of shares so that after carrying out the reverse split, every 200 shares in the Company corresponds to one (1) share in the Company. Concurrently with the execution of the reverse split, the Board of Directors of the Company has today resolved on implementing the directed share issue without consideration resolved by the Annual General Meeting in which the Company has issued without consideration a total of 328,684 new shares in such manner that the number of shares in each book-entry account holding Duell’s shares has been made divisible by 200. The aggregate market value of the shares issued without consideration is EUR 12,818.68, based on the closing price of November 22, 2024.

After the directed share issue, the Company has redeemed without consideration 199 shares for each 200 shares in the Company, in accordance with the resolution of the Annual General Meeting. The Company’s shares redeemed in connection with the reverse split have been cancelled immediately. After the reverse split, Duell holds 33,800 treasury shares.

The purpose of the reverse split is to increase the value of a single share to facilitate trading conditions of the company’s shares and improve price formation of the company’s shares. The procedure has been explained in more detail in Duell’s company release on the resolutions of the Company’s Annual General Meeting, issued on November 20, 2024.

Duell Corporation

Further information:

Pellervo Hämäläinen, Communications and IR Manager
Duell Corporation
+358 40 674 5257
pellervo.hamalainen@duell.eu

Certified Adviser

Oaklins Finland Ltd
+358 9 312 9670 

Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering approximately 8,500 dealers. The range of products includes around 150,000 items under more than 500 brands. The assortment covers spare parts and accessories for Motorcycling, Bicycling, ATVs/UTVs, Snowmobiling, Marine and Garden/Forest categories. Logistics centres are in Finland, Sweden, Netherlands, France, and the UK. Duell’s net sales in financial year 2024 was EUR 125 million and it employs over 200 people. Duell’s shares (DUELL) are listed on the Nasdaq First North Growth Market Finland marketplace. www.duell.eu.