SHELLY GROUP SE (Ticker SLYG / ISIN: BG1100003166) has announced that it received notifications regarding a transfer of shares from its Board member and shareholder, Mr. Svetlin Todorov, to Salisto Holdings LLC, a company solely controlled by him. The transfer was executed as an in-kind contribution, moving 1,184,995 shares, representing 6.53% of the Company's share capital and voting rights, from Mr. Todorov's direct holding to Salisto Holdings LLC's direct holding.
According to the notifications under Art. 19 MAR and Art. 145 of the Public Offering of Securities Act, Mr. Todorov disposed of the shares to Salisto Holdings LLC, which in turn acquired them via the in-kind contribution. As a result, Mr. Todorov now holds 21.26% of the Company directly and 6.53% indirectly through Salisto Holdings LLC, within the meaning of Art. 146 POSA. The total number of shares and voting rights controlled by Mr. Todorov remains unchanged at 27.79%.
The transfer does not alter the ultimate beneficial owner of the shares or the control exercised by Mr. Todorov over the Company. This restructuring of his shareholding is a strategic move that consolidates his indirect ownership through a holding entity, which may have implications for governance and future transactions. For investors, the key takeaway is that the change is purely administrative in nature, with no impact on the Company's operational or financial standing.
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. The Company's 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 device sales, the Shelly Group generates revenue from its cloud applications, and it benefits from an asset-light production model through contract manufacturers.
The Company has a strong presence in German-speaking countries and is represented 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 footprint. Shelly Group SE 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.
The announcement underscores the stability of the Company's ownership structure, which is likely to be viewed positively by the market. The transfer to a holding company controlled by Mr. Todorov may streamline future decision-making and estate planning, but it does not change the voting power or economic interest of the ultimate owner. For shareholders and potential investors, this news reinforces the continuity of leadership and control, which is a crucial factor in assessing the Company's long-term strategic direction.
For more information, please visit corporate.shelly.com.
