Press releases

Eevia Health's Board of Directors has resolved, subject to approval at an Extraordinary General Meeting, on a directed share issue of SEK 20 million

The Board of Directors of Eevia Health Plc (publ) ("Eevia" or the "Company") has resolved, subject to the approval by shareholders at an Extraordinary General Meeting (the "EGM"), on a directed new issue of 2,061,856 shares at a subscription price of SEK 9.70 per share (the "Directed Share Issue"), which is expected to raise proceeds to the Company of SEK 20 million before issue costs. The proceeds will primarily be used for investments in increased capacity to better be able to meet current and future demand.

Eevia has resolved, subject to the approval by shareholders at an EGM, on a Directed Share Issue to a limited number of new institutional and professional investors as well as several existing shareholders. The Directed Share Issue was based on a bookbuilding process conducted by Partner FK. A total of 23 investors has agreed to subscribe for shares in the Directed Share Issue including among others Quiq Holding, Polynom Investment, Modelio Equity, Klier Invest and Consensus Lighthouse Asset.

The Company intends to publish a notice convening an EGM shortly.

The subscription price in the Directed Share Issue corresponds to a discount of 15 percent from the volume weighted average price during 22 trading days between October 11, 2021 and November 9, 2021. The Board of Directors of Eevia Health considers the discount to be in line with market practice and fair given the volume weighted average price during the last month.

The Directed Share Issue increases the total number of shares from 13,951,500 to 16,013,356. For existing shareholders, the Directed Share Issue will result in a dilution of approximately 12.9 percent. The reason for deviation from the shareholders' pre-emptive rights for the Directed Share Issue is to increase and broaden the shareholder base with qualified and long-term investors and also in a cost-effective and timely manner raise capital to improve the Company's financial position and to enable the further development and growth of the Company's business. The Board is of the opinion that the Directed Share Issue will be of benefit to the Company and, therefore, to all its shareholders.

Stein Ulve, CEO of Eevia Health:

"We are happy to welcome new institutional and professional investors to be part of Eevia Health's journey going forward. With the funds we are raising from new investors and the continued support from our current investors, we will be able to increase capacity in our factory. Following the record 100 MSEK order received during the summer of 2021 we have identified additional investments that will allow us to better meet current and future demand. We see a strong market for our products, and we are seeing an increase in inquiries from both existing and new customers. The capital raised will also give us financial strength and flexibility in exploring new opportunities and deliver on existing contracts to meet our financial targets for 2024 - MEUR 25 in turnover with over 40% gross margin and EBITDA margin above 15%."

Advisors
Partner Fondkommission is financial advisor and issuing agent in Sweden. OP Bank is issuing agent in Finland. Smartius Oy is legal adviser.

Stein Ulve, CEO, Eevia Health Plc                       Kim Nurmi-Aro, CFO, Eevia Health Plc

Email: stein.ulve@eeviahealth.com                      kim@eeviahealth.com

Telephone: +358 400 22 5967                              +358 504 44 0717

INFORMATION ABOUT EEVIA HEALTH PLC

Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are mostly wild harvested and key raw materials are harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B to dietary supplements and food brands globally, who utilize the products as ingredients in their consumer product formulas.

Eevia Health is fast-growing Finnish manufacturer of 100% organically certified plant extracts. Most of its raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion. The safe and effective ingredients of high quality, such as high concentrate bilberry anthocyanin extracts (36% anthocyanins) and pine bark extracts (70% oligomeric proanthocyanidins), are organically certified. 

Eevia Health operates a modern green-chemistry production facility in Finland, located close to the raw material harvest areas. The short value-chain enables an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia is listed at Spotlight Stock Market with the short name EEVIA.

To learn more, please visit  www.eeviahealth.com or follow Eevia Health on LinkedIn @EeviaHealth. 

2022-05-11

Eevia Health Plc, ("Eevia" or "The Company"), is taking part in the trade show "Vitafoods" in Geneva this week (10-12 May 2022).

2022-05-11
Regulatory

Eevia Health Plc, ("Eevia" or "The Company"), has received a sales order from its Australian distributor Ingredients Plus. Ingredients Plus serves leading nutraceutical brands in Oceania and Asia with high-quality ingredients. The end customer is a major natural health company based out of Sydney, Australia selling its products across Asia and Oceania.

2022-04-14

Eevia Health Plc, ("Eevia" or "The Company") has appointed a Shareholders' Nomination Committee

2022-04-08

Eevia Health Plc, ("Eevia" or "The Company") has appointed Select Ingredients, San Diego, California, USA, as new distributor in the territory of the USA.

2022-03-15
Regulatory

Eevia Health Plc ("Eevia" or "The Company") is welcoming Gabriella Beni as our new Chief Financial Officer. Kim Nurmi-Aro will leave the Company on March 16th and the Company wishes him the very best in his new professional endeavors close to his home in the city of Vaasa. Gabriella Beni will take over the position on March 17th.

2022-03-09
Regulatory

Eevia Health Plc ("Eevia" or "The Company"), a leading health ingredient manufacturer from Finland, today announces that it has entered a multi-year sales agreement. The sales agreement is with a Finnish customer to supply a specialty protein and fiber plant extract with excellent nutritional values and versatile product applications for the global nutraceutical market.

2022-02-25

Significant events during the fourth quarter and full-year 2021:

  • Net sales for the year grew by over 130% compared to 2020, amounting to the total revenue of KEUR 6,671.
  • During Q4, 2021 Net sales amounted to KEUR 658 compared to KEUR 1,534 in 2020. The underlying Net Sales in Q4, 2021 was KEUR 801. The underlying revenue was higher than the reported revenue. Eevia credited one sold batch in Q4-21 that needed reprocessing. Eevia will resell the batch in Q1-22.
  • EBITDA for Q4, 2021 came in at KEUR -811 (KEUR -409).
  • Eevia added several new prospects to the pipeline during the period, and the Company has ongoing negotiations for long-term contracts.
  • The order reserve increased in Q4-21. As previously communicated, among new orders were:
  • an MSEK 3,4 / MEUR 0,34 sales order for highly concentrated bilberry extract (Feno-Myrtillus® 36 Organic).
  • New sales orders for organic pine bark extract (Fenoprolic® 70 Organic).
  • A human clinical study concluded on Feno-Chaga® Organic was completed with positive results, Scientific documentation of the efficacy of Eevia's plant extracts is a crucial factor in growing customer interest and sales of Eevia's products.
  • Eevia Health successfully completed an equity issue with proceeds of KEUR 1,903 in Q4-21.
  • Eevia made a significant drive in Q4-21 to become a leader in environmental sustainability and occupational safety. We launched several new actions to reduce emissions and strengthen our sustainability. The initiative included testing various technologies, such as reversed osmosis, nanofiltration, and ultrafiltration. The target is to minimize emissions of organic compounds to air and wastewater. Reducing emissions is the right thing for the environment and supports our brand as the most sustainable extracts producer.
2022-01-10

Eevia Health Plc, ("Eevia" or "The Company"), is welcoming Harri Salo as our new Chief Manufacturing Officer. Harri Salo has a 15-year strong career in operations and production management in international industrial business environments. He will start Monday, January 10th, and significantly strengthen Eevia Health's management capacity and competence for developing production organization, operation, and business processes.

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