Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) announced on August 18, 2026, that it has received notifications regarding a transfer of shares by its founder and board member, Mr. Svetlin Todorov. The transaction involves an in-kind contribution 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.
This strategic move results in Mr. Todorov holding 21.26% of the company's shares directly and 6.53% indirectly through Salisto Holdings LLC, within the meaning of Art. 146 of the Bulgarian Public Offering of Securities Act. Importantly, the aggregate position controlled by Mr. Todorov remains unchanged at 27.79%, and there is no change in the ultimate beneficial owner of the shares or in the control exercised by Mr. Todorov over the company.
The transfer is part of a broader restructuring of Mr. Todorov's shareholdings, aimed at consolidating his ownership through a holding entity. This move may offer several benefits, including enhanced estate planning, simplified management of his investments, and potentially more efficient tax handling. For Shelly Group, the change is neutral from a control perspective, as Mr. Todorov's overall influence and voting power remain the same. However, it could signal a more formalized structure for the founder's involvement, which might be viewed positively by investors seeking clarity in governance.
Shelly Group SE is a leading player in the Internet of Things (IoT) and smart building solutions market, offering advanced technology for remote control, automation, and energy management. The company's products are sold in over 100 countries, with a strong presence in German-speaking regions and sales organizations across Europe, the United States, and China. The company benefits from an asset-light production model and generates additional revenue from its cloud applications.
This development comes as Shelly Group continues to expand its global footprint and innovate in the smart home sector. The restructuring of the founder's holdings does not alter the company's strategic direction or operational focus, but it does underscore the founder's long-term commitment to the company. By consolidating his shares under a holding company, Mr. Todorov may be positioning his investment for future flexibility, which could be a signal of confidence in the company's growth prospects.
Investors and market observers will likely note the stability of the founder's control as a positive sign. The transaction is reported in accordance with regulatory requirements, including Art. 19 MAR and Art. 145 of the Public Offering of Securities Act, ensuring transparency. For more information, interested parties can visit the company's corporate website at corporate.shelly.com.
