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Spin off & listing

Tobii Dynavox spin off & listing

Tobii Dynavox is currently going through the listing process on Nasdaq Stockholm. The following is a brief summary of the rationale, timeline, terms and conditions for the distribution and listing process.

Why is Tobii Dynavox listing on Nasdaq Stockholm?

Since its inception 20 years ago, Tobii has built three strong divisions: Tobii Dynavox, Tobii Pro and Tobii Tech. The divisions have grown and matured side-by-side and today all three are successful businesses. Over time, the synergies between Tobii Dynavox and the two other divisions have gradually diminished to a point where they are now very limited.

Tobii’s Board of Directors believes that a split of Tobii Group into two parts – one consisting of Tobii Dynavox and the other of a merger of Tobii Pro and Tobii Tech – has the potential to accelerate the long-term business growth and success of both entities, creating substantial shareholder value.

What does this mean for Tobii AB (Publ)’s shareholders?

Following the proposed spin-off, the former Tobii Group will be divided into two independent companies, Tobii Dynavox and Tobii. For each share in Tobii, one share is received in Tobii Dynavox. Tobii will be a leader in eye tracking for volume markets (computers, computer accessories, VR, AR, and third-party integrations) as well as in eye tracking solutions for behavioral studies, and will include Tobii’s current business areas Tobii Tech and Tobii Pro. Tobii Dynavox will be a global market leader in the development and sale of communication aid for people with disabilities.

Tentative timeline

Learn more about each entry on our timeline by hovering on the date of interest and clicking the grey dot.

Tobii’s Board of Directors has recommended that an Extraordinary General Meeting (EGM) of Tobii votes to distribute all shares in Tobii Dynavox to the shareholders in Tobii.

Publication of prospectus.

Capital market day for investors, analysts and media. You can register for CMD2021 here.

Last day of trading in the ordinary shares of Tobii AB including the right to receive ordinary shares in Tobii Dynavox.

Tobii’s ordinary shares are traded without the right to receive shares in Tobii Dynavox.

Record date for distribution of ordinary shares in Tobii Dynavox.

Estimated first day of trading in Tobii Dynavox’s ordinary shares

Press releases

Material

Information brochure:

Prospectus:

FAQs

What is the reason for the distribution of ordinary shares in Tobii Dynavox?

Tobii’s Board of Directors believes that a split of Tobii Group into two parts – one consisting of the division Tobii Dynavox and the other of a merger of the two divisions Tobii Pro and Tobii Tech - has the potential to further accelerate the long-term business growth and success of both entities, and thereby create substantial shareholder value.

What are the terms of the distribution?

Any person who is registered as an ordinary shareholder of Tobii on the record date for the distribution is entitled to receive one ordinary share in Tobii Dynavox without consideration for each ordinary share held in Tobii.

Do I have to take any action to receive the distributed ordinary shares?

No, anyone registered (directly or through a nominee) as a shareholder of Tobii on the record date for the distribution will automatically receive ordinary shares in Tobii Dynavox.

When is the record date for the distribution?

The Board of Directors of Tobii has proposed that the Extraordinary General Meeting should authorize the Board of Directors to decide on the record date for the distribution of Tobii Dynavox. The record date is therefore not fixed as of the date of the Information Brochure but will be communicated subsequently. The record date is expected to be close to the listing of ordinary shares of Tobii Dynavox on Nasdaq Stockholm. If the Board’s proposal is approved, it is intended that the listing of Tobii Dynavox’s ordinary shares will take place on Nasdaq Stockholm around year end 2021.

When will the prospectus be published and where can I find it?

A prospectus containing information about Tobii Dynavox and the risks associated with an investment in Tobii Dynavox ordinary shares will be published before Tobii Dynavox ordinary shares are admitted to trading on Nasdaq Stockholm. The prospectus will be made available for download on Tobii’s and Tobii Dynavox’s websites and can also be obtained in paper format at Tobii’s and Tobii Dynavox’s offices.

Will the distribution have any tax consequences for shareholders?

For private individuals and limited liability companies resident in Sweden for tax purposes, the distribution of shares in Tobii Dynavox will not give rise to any immediate taxation due to the application of the Lex Asea rules. By applying the Lex Asea rules, no Swedish withholding tax will be withheld in connection with the distribution of shares in Tobii Dynavox to persons who are subject to limited tax liability in Sweden.