Shelly Group SE Announces Transfer of 6.53% Stake to Svetlin Todorov's Holding Company

Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) announced today that it has received notifications regarding a change in the direct shareholding structure of a key shareholder and board member. Mr. Svetlin Todorov, who serves on the Board of Directors, has transferred 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 him. The transfer was executed as an in-kind contribution, meaning the shares were contributed as a non-cash asset to Salisto Holdings LLC.

This move does not alter the total stake controlled by Mr. Todorov, which remains at 27.79% of the company's shares and voting rights. However, it changes the nature of his holdings: he now holds 21.26% directly and 6.53% indirectly through Salisto Holdings LLC, in accordance with Art. 146 of the Bulgarian Public Offering of Securities Act (POSA). The company emphasized that the ultimate beneficial owner remains the same, and there is no change in control over Shelly Group SE.

This restructuring could be part of a broader strategy for Mr. Todorov, potentially separating his personal holdings from those of his corporate entity for estate planning, liability reasons, or to streamline governance. It also simplifies future transactions involving his shares, as they can be managed by Salisto Holdings LLC. For minority shareholders, this change has no immediate impact on their voting power or economic interest, but it could affect future decision-making if Mr. Todorov's indirect holding is used in different ways.

Shelly Group SE is a key player in the IoT and smart building solutions market, offering products for remote control, automation, and energy management. The company benefits from an asset-light model, using contract manufacturers, and has a broad international presence with sales organizations across Europe, the United States, and China. Its shares are listed on both the Bulgarian Stock Exchange and the Frankfurt Stock Exchange's Prime Standard (XETRA: SLYG), and it is included in the SDAX index.

Investors and stakeholders may monitor whether this change precedes further corporate actions, such as share buybacks or strategic partnerships. The announcement was made in compliance with regulatory disclosure requirements under Art. 19 MAR and Art. 145 POSA, ensuring transparency.

For more information, interested parties can visit the company's corporate website at corporate.shelly.com.