Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) has announced a significant change in the structure of its shareholdings, as Mr. Svetlin Todorov, a member of the Board of Directors and a major shareholder, has transferred a substantial portion of his direct shareholding to a company he solely controls. The transaction, executed as an in-kind contribution, involves the disposal of 1,184,995 shares, representing 6.53% of the company's share capital and voting rights, to Salisto Holdings LLC.
According to the notifications received by the company under Art. 19 MAR and Art. 145 of the Public Offering of Securities Act, the transfer results in a shift from Mr. Todorov's direct holding to an indirect holding through Salisto Holdings LLC. Importantly, the aggregate position controlled by Mr. Todorov remains unchanged at 27.79%. Following the contribution, Mr. Todorov will hold 21.26% directly and 6.53% indirectly through Salisto Holdings LLC, within the meaning of Art. 146 POSA. The transaction does not alter the ultimate beneficial owner of the shares nor the control exercised by Mr. Todorov over the company.
This move is part of a broader trend among major shareholders to reorganize their holdings for estate planning, tax optimization, or to streamline governance structures. For Shelly Group, the change is primarily administrative, as the voting rights and economic interests remain with the same beneficial owner. However, it underscores the importance of transparency in shareholding structures, particularly for companies listed on regulated markets like the Frankfurt Stock Exchange (Prime Standard) and the Bulgarian Stock Exchange.
The implications of this transfer are multifaceted. For investors, the unchanged total stake means that Mr. Todorov's influence over the company remains constant, which may provide stability. For corporate governance, the move could facilitate clearer lines of control and decision-making, as the indirect holding through Salisto Holdings LLC might simplify certain processes. Moreover, the transaction highlights the company's commitment to regulatory compliance, as it has publicly disclosed the notifications in accordance with MAR and POSA requirements.
Shelly Group SE specializes in IoT and smart building solutions, offering products that enable remote control, automation, and energy management. The company has a strong international presence, with sales organizations across Europe, the United States, and China, and its products are available in over 100 countries. The group benefits from an asset-light production model through contract manufacturers and generates additional revenue from cloud applications. Shelly Group is listed on both the Bulgarian Stock Exchange and the Frankfurt Stock Exchange (XETRA: SLYG) and is included in the SDAX index.
For further details, interested parties can visit the company's corporate website at corporate.shelly.com or contact the investor relations team via CROSS ALLIANCE communication GmbH. The original release is available on NewMediaWire.
