Duell plans a reverse split

The Board of Directors of Duell Corporation is planning to reduce the number of the company’s shares through a combination of shares (a so called reverse split) so that for each 200 shares of the company 199 shares would be redeemed without consideration. In connection with the planned reverse split, a directed share issue is considered to be carried out, where new shares in the company are issued without consideration in such manner that the number of shares in each shareholder’s book-entry account is made divisible by 200. The purpose of the planned reverse split is to increase the value of a single share to facilitate trading conditions of the company’s shares and improve price formation of the company’s shares. The reverse split requires a resolution of the general meeting of the company.

The company’s Board of Directors intends to include a proposal on the reverse split on the agenda of the annual general meeting of 2024. The company will publish in connection with the notice to the general meeting a more detailed proposal for the execution of the reverse split and related authorisations and resolutions. If the annual general meeting resolves on the reverse split, the Board of Directors will amend the company’s share-based incentive schemes to reflect the reverse split.

Duell Corporation, Board of Directors

Further information:

Pellervo Hämäläinen, Communications and IR Manager
Duell Corporation
+358 40 674 5257
pellervo.hamalainen@duell.eu

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Oaklins Merasco Oy
+358 9 612 9670

Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering approximately 8,500 dealers. The range of products includes around 150,000 items under more than 550 brands. The assortment covers spare parts and accessories for Motorcycling, Bicycling, ATVs/UTVs, Snowmobiling, Marine and Garden/Forest categories. Logistics centres are in Finland, Sweden, Netherlands, France, and the UK. Duell’s net sales in 2024 was EUR 125 million and it employs over 200 people. Duell’s shares are listed on the Nasdaq First North Growth Market Finland marketplace. www.duell.eu.