Shelly Group SE (Ticker SLYG / ISIN: BG1100003166), a leading IoT and smart building solutions provider, announced on August 18, 2026, that it has received notifications regarding an in-kind contribution of shares by one of its board members. Mr. Svetlin Todorov, who serves on the Board of Directors and is a significant shareholder, 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 transaction, conducted as an in-kind contribution, moves the shares from Todorov’s direct holding to Salisto Holdings LLC. As a result, Todorov’s direct stake decreases to 21.26%, while his indirect stake through Salisto Holdings LLC becomes 6.53%. Importantly, his aggregate position remains unchanged at 27.79%, and the ultimate beneficial owner of the shares remains the same. The company emphasized that there is no change in the control exercised by Todorov over Shelly Group.
This restructuring is likely part of Todorov’s personal asset management or estate planning, rather than a shift in his commitment to the company. By holding shares through a personal holding company, Todorov may achieve benefits such as streamlined governance, liability protection, or simplified succession planning. For minority shareholders, the key takeaway is that the change is purely administrative; Todorov’s economic interest and voting power remain identical.
The announcement comes as Shelly Group continues to expand its footprint in the smart home and IoT sector. The company develops and distributes innovative products for DIY and professional users, offering remote control, automation, and energy management solutions. With a strong presence in German-speaking countries and representation in over 100 markets, Shelly Group benefits from an asset-light production model and generates revenue from both device sales and cloud applications. The company is listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange’s Prime Standard, and is included in the SDAX index.
Investors and market watchers will note that the transfer does not alter the company’s governance structure or strategic direction. Todorov’s continued significant stake underscores his alignment with the company’s long-term growth. The move also highlights the importance of transparent disclosure under EU market abuse regulations, as the notifications were made in accordance with Article 19 MAR and the Bulgarian Public Offering of Securities Act.
For more details, interested parties can visit corporate.shelly.com. Shelly Group remains committed to delivering advanced IoT solutions, and this ownership adjustment is not expected to affect its operations or market position.
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