Thin Film Electronics ASA - Result of Subsequent Offering
Oslo, 30 June 2020
Reference is made to the stock exchange notice published by Thin Film Electronics ASA (the "Company") on 12 June 2020 regarding the Subsequent Offering.
The subscription period under the Subsequent Offering expired on 29 June 2020 at 16:30 CET, and the Subsequent Offering was more than 6 times oversubscribed, including subscriptions from eligible shareholders, over-subscriptions and subscriptions without subscription rights.
Further to the resolution by the Extraordinary General Meeting on 20 May 2020, the Board of Directors has resolved to allocate and issue the maximum of 63,636,363 Offer Shares at a subscription price of NOK 0.11 per Offer Share, thereby raising NOK 7 million in the Subsequent Offering.
The subscribers who are allocated Offer Shares will receive a letter confirming the number of Offer Shares allocated and the corresponding amount to be paid by each subscriber. The letters are expected to be distributed on Wednesday 1 July 2020. Payment for the allocated Offer Shares falls due on 7 July 2020.
Following payments of the subscription amounts and the registration of the Subsequent Offering with the Norwegian Register of Business Enterprises, the share capital of the Company will be NOK 39,089,823.08 divided into 355,362,028 shares, each with a par value of NOK 0.11. The Offer Shares will be delivered to the subscribers as soon as reasonably practicable following such registration. The shares issued in the Subsequent Offering may not be transferred or traded until they are fully paid and registered on the VPS account of the subscriber.
For every share subscribed for and allocated in the Subsequent Offering, two (2) warrants will be attached and issued to such subscriber. As a consequence of the Subsequent Offering being fully subscribed, a total of 127,272,726 warrants will be issued as part of the Subsequent Offering. The warrants will be issued free of charge. Each warrant will entitle the holder to demand the issuance of one (1) share in the Company. The first tranche of warrants, totaling 63,636,363 warrants (“Warrant A”), will have a term expiring on 31 December 2020, and be exercisable at an exercise price per share of NOK 0.11. The second tranche of warrants, totaling 63,636,363 warrants (“Warrant B”), will have a term expiring on 20 August 2021, and be exercisable at an exercise price per share of NOK 0.25. The warrants are transferable, but will not be listed and tradable on a regulated market.
Contact: Kevin Barber - Chief Executive Officer, e-mail:
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
