Shelly Group SE (Ticker SLYG / ISIN: BG1100003166), a provider of IoT and smart building solutions, announced that it has received notifications regarding a transfer of shares by its shareholder and Board member, Mr. Svetlin Todorov. The notifications, made under Art. 19 MAR and Art. 145 of the Public Offering of Securities Act, detail an in-kind contribution of 1,184,995 shares, representing 6.53% of the Company's share capital and voting rights, to Salisto Holdings LLC, a company solely controlled by Mr. Todorov.
The transaction results in the shares being moved from Mr. Todorov's direct holding to the direct holding of Salisto Holdings LLC. Importantly, the total number of shares and voting rights in the Company 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 aggregate position controlled by Mr. Todorov remains unchanged, and there is no change in the ultimate beneficial owner of the shares or in the control exercised by Mr. Todorov over the Company.
This move is a structural reorganization of Mr. Todorov's holdings, likely for estate planning or investment management purposes. For investors, the key takeaway is that the ownership structure remains stable, as the controlling shareholder's overall stake is unchanged. This provides continuity in the Company's leadership and strategic direction, which is crucial for maintaining investor confidence.
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 asset-light production 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. This announcement is part of the Company's ongoing disclosure obligations and provides transparency regarding significant shareholdings, which is a legal requirement in the European Union under the Market Abuse Regulation (MAR).
For further information, please visit corporate.shelly.com.
