Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) announced that it has received notifications regarding a transfer of shares by Mr. Svetlin Todorov, a member of its Board of Directors and a major shareholder. The transactions, reported under Art. 19 MAR and Art. 145 of the Public Offering of Securities Act, involve the disposal of 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, 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.
Following the contribution, Mr. Todorov's direct holding in Shelly Group will decrease from 27.79% to 21.26%, while an additional 6.53% will be held indirectly through Salisto Holdings LLC. Crucially, the aggregate position controlled by Mr. Todorov remains unchanged at 27.79%. This restructuring does not alter the ultimate beneficial owner of the shares, nor does it change the control exercised by Mr. Todorov over the company, as Salisto Holdings LLC is solely controlled by him.
The transaction is a strategic move to consolidate Mr. Todorov's shareholding under a separate legal entity, which may facilitate estate planning, corporate governance, or investment management. Importantly, the announcement underscores that there is no change in the beneficial ownership or control structure of Shelly Group, thereby ensuring continuity for investors and stakeholders.
Shelly Group SE specializes in IoT and smart building solutions, offering products that enable remote control, automation, and energy management for both DIY enthusiasts and professional users. The company's portfolio includes a wide range of devices, from smart relays and switches to advanced sensors, all designed to integrate seamlessly with various home automation systems. In addition to hardware sales, Shelly Group generates recurring revenue from its cloud applications, which provide users with remote access and data analytics.
The company benefits from an asset-light production model, relying on contract manufacturers, which allows for scalability and cost efficiency. With a strong presence in German-speaking countries and distribution in over 100 countries, Shelly Group has established a broad international footprint. Its sales organizations span key markets 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 under the ticker SLYG, and is included in the SDAX index. For more information, visit corporate.shelly.com.
