Shelly Group SE (Ticker SLYG / ISIN: BG1100003166), a leading provider of IoT and smart building solutions, announced today that it has received notifications regarding a significant share transfer involving one of its major shareholders. Svetlin Todorov, a member of the Board of Directors and a substantial shareholder, has disposed of 1,184,995 shares in the company, representing 6.53% of the share capital and voting rights, through an in-kind contribution to Salisto Holdings LLC, a company solely controlled by Mr. Todorov.
The transaction was conducted in accordance with Art. 19 MAR and Art. 145 of the Public Offering of Securities Act. As a result, the shares have been moved from Mr. Todorov's direct holding to a direct holding of Salisto Holdings LLC. Importantly, the total number of shares and voting rights 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.
This strategic move does not alter the ultimate beneficial ownership or the control exercised by Mr. Todorov over the company. The aggregate position remains the same, ensuring stability for the company and its shareholders. The in-kind contribution is a common practice for reorganizing shareholdings, often for estate planning or investment structuring purposes.
Shelly Group SE is known for its innovative IoT and smart building solutions, which allow users to remotely control, automate, and manage energy consumption of electrical appliances via smartphones, PCs, or third-party home automation systems. The company operates with an asset-light production model, utilizing contract manufacturers, and has a strong presence in German-speaking countries, with products available in over 100 countries. Its sales organizations span across DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China.
The company is listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange (Prime Standard, XETRA: SLYG), and is included in the SDAX index. This ownership restructuring is expected to have no impact on the company's operations or its strategic direction, as the controlling shareholder's influence remains consistent.
For investors and market observers, this development underscores the ongoing commitment of the major shareholder to the company's long-term growth. It also highlights the importance of transparent disclosure in maintaining investor confidence. The transfer of shares to a holding company controlled by Mr. Todorov is a structural adjustment that does not change the company's governance or its market position.
Shelly Group continues to focus on expanding its smart home and energy management solutions, capitalizing on the growing demand for IoT devices. The company's cloud-based applications and diverse product portfolio position it well in the competitive smart building market. This shareholding reorganization is likely to be viewed as a neutral event by the market, as it does not affect the company's fundamentals or its future prospects.
With the global push towards energy efficiency and smart living, Shelly Group is well-positioned to benefit from these trends. The company's international footprint and innovative product offerings make it a key player in the IoT space. This ownership change is a procedural step that maintains the status quo in terms of control, ensuring continuity for the company's strategic initiatives.
For more information about Shelly Group and its solutions, interested parties can visit the company's corporate website at corporate.shelly.com.
