Shelly Group SE (Ticker SLYG / ISIN: BG1100003166), a provider of IoT and smart building solutions, announced today that it has received notifications regarding a transfer of shares from a member of its Board of Directors to a company he solely controls. The transaction, executed as an in-kind contribution, involves 1,184,995 shares, representing 6.53% of the Company's share capital and voting rights.
Mr. Svetlin Todorov, who serves on the Board of Directors, has disposed of the shares to Salisto Holdings LLC, an entity he exclusively controls. The notifications were made under Article 19 of the Market Abuse Regulation (MAR) and Article 145 of the Public Offering of Securities Act (POSA). Following the transfer, the shares now reside in the direct holding of Salisto Holdings LLC, while Mr. Todorov's direct holding has correspondingly decreased.
Despite the change in the direct holder, the total number of shares and voting rights in Shelly Group SE controlled by Mr. Todorov remains unchanged at 27.79%. Post-contribution, Mr. Todorov holds 21.26% of the shares directly and 6.53% indirectly through Salisto Holdings LLC, as defined under Article 146 of POSA. The aggregate position controlled by Mr. Todorov remains at 27.79%, and there is no alteration in the ultimate beneficial owner of the shares or in the control he exercises over the Company.
This transaction is a restructuring of share ownership within Mr. Todorov's personal holdings, likely for asset management or estate planning purposes. For investors, the key takeaway is that the change does not affect the Company's ownership structure or its governance, as Mr. Todorov's influence remains identical. The move may signal a formalization of his holdings through a separate legal entity, which could have implications for future transactions or compliance with regulatory requirements.
Shelly Group SE specializes in IoT and smart building solutions for both DIY enthusiasts and professional users. The company designs and distributes products that enable remote control, automation, and energy management of electrical appliances, as well as smart building solutions, all accessible via smartphones, PCs, or third-party home automation systems. In addition to device sales, Shelly Group generates revenue from its cloud applications, leveraging an asset-light production model through contract manufacturers.
With a strong presence in German-speaking countries and a global footprint, Shelly Group's products are sold in more than 100 countries. The company maintains sales organizations in key regions including DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. Shelly Group SE is listed on the Bulgarian Stock Exchange and the regulated market (Prime Standard) of the Frankfurt Stock Exchange (XETRA: SLYG), and is included in the SDAX index.
For more information about Shelly Group and its corporate governance, visit corporate.shelly.com.
