Press release - Merger between Electra Gruppen and Elon Group

Elon Group Holding's general meeting has approved the merger between Electra Gruppen and Elon Group, other conditions remain

As previously announced, Electra Gruppen AB (publ) (“Electra”) entered into an agreement with Elon Group Holding AB (publ) (“Elon Group Holding”) on 7 December 2021, under which Electra and Elon Group AB (“Elon”) merge through an exchange of shares, whereby Elon’s parent company, Elon Group Holding, exchanges all shares in Elon for shares in Electra through an issue in kind (the “Transaction ”). According to the agreement, the merger between Electra and Elon is conditional on, among other things, approval by Electra’s and Elon Group Holding’s respective general meetings. Elon Group Holding’s general meeting was held today and resolved to approve the board’s decision to merge with Electra on the terms set out in the proposed resolution.

The completion of the Transaction is, inter alia, subject to approval by the relevant authorities, implies a so-called substantial change of operations according to Nasdaq Stockholm’s rulebook and completion is expected during the first half of 2022.

About Elon
Elon is a leading voluntary specialist retail chain for home products with representation in Sweden, Norway, Denmark, Finland and Iceland. In Sweden, there are approximately 286 Elon stores. The Elon stores offer primarily major appliances, lighting, kitchens and indoor climate products with the ambition to make the customer's everyday life easier. Local, driven entrepreneurs with a strong brand and central functions such as logistics, IT and marketing make Elon a leading player. Elon's offering is targeted at both consumers and businesses, and for the twelve-month period ended 30 September 2021, approximately 81 per cent of net sales was attributable to consumers and approximately 19 per cent to businesses. As of 30 September 2021, Elon has 170 employees within the central organisation.

About Electra
Electra develops and operates concepts for retail chains with independent entrepreneurs, especially within consumer electronics, as well as supplies e-commerce players and independent specialist retailers. Electra is also a flexible logistics partner that offers advanced IT and logistics solutions. Electra was founded in 1949 by the Lissinger family as a trading company in the radio industry. The company has its headquarters and most of its operations in Kalmar. The company's share (ELEC) is listed on Nasdaq Stockholm. Electra's operations are divided into two segments and for the twelve-month period ended 30 September 2021, approximately 68 per cent of net sales was attributable to Electra Retail and approximately 32 per cent to Electra Logistics & IT. As of 30 September 2021, Electra has 135 employees within the central organisation.

For more information please contact

Stefan Lebrot, CEO Elon Group AB Telephone: +46 76-762 63 29

E-mail: stefan.lebrot@elongroup.se