Meltron AB is provided approximately MSEK 22 in cash proceeds through an oversubscribed rights issue and a resolved additional directed issueThis press release may not be announced, published or distributed, either directly or indirectly, in or to the United States, Canada, Australia, Hong Kong, Japan, New Zealand, The Republic of Korea, Switzerland, Singapore, South Africa or any other country in which such action is wholly or partly subject to legal restrictions.
Meltron AB (publ) ("Meltron" or "the Company") announces today that the Company's MSEK 25 rights issue has been oversubscribed by approximately 20 percent. The commitments from the guarantee consortium do therefore not have to be utilized. In addition, considering the considerable interest and the Company's possibilities for expansion, the Board of Directors has today resolved to carry out an additional directed issue of MSEK 4 to strategic investors.
On August 25, Meltron announced a rights issue of approximately MSEK 25, resolved upon by the Board of Directors as mandated by the Annual General Meeting on August 20, 2019. The subscription period was between September 28 and October 13, 2020, and concerned no more than 100,069,720 shares at a subscription price of SEK 0.25 per share. In total, 120,483,423 shares were subscribed, 72,261,945 of which with preferential rights and 48,221,478 of which without preferential rights. The full amount of the rights issue, 100,069,720 shares, has thus been allotted. Out of the shares subscribed with support of preferential rights, it was decided that 27,361,445 shares, corresponding to approximately MSEK 6.8, would be paid by means of set-off.
The Board of Directors has further decided to utilize its mandate to conduct an additional directed issue on the same terms, as previously laid out in a press release and in the memorandum for the rights issue. This entails that the Company conducts an overallotment issue of 16,000,000 additional shares (MSEK 4.0) at a price of SEK 0.25 per share. In addition, the Board of Directors has decided to reimburse the financial advisor for the issue by setting off part of the fee against MSEK 0.5, corresponding to 2,000,000 shares, and that those issue guarantors who opt for contractual set-off against shares shall be reimbursed by set-off with 10,038,058 shares (approximately MSEK 2.5). In total, the Rights Issue, the additional directed issue and the offsets result in a dilution of approximately 44 percent of the number of shares and the share capital of the Company.
In total, Meltron will after offsets be provided approximately MSEK 22 in cash proceeds from the issue, before issuance costs.
When all the above-mentioned newly issued shares are registered, the total number of shares in the Company will be 288,219,331. The share capital will increase with SEK 32,026,944.50, to SEK 72,054,832.75. Minor adjustments of the numbers and amounts set out above may occur in connection with the registration with the Swedish Companies Registration Office.
Shares shall be paid according to instructions provided on the contract note, which will be sent out shortly to those who have received allotment. Those who have subscribed through a nominee will receive information on allotment from said nominee.
Advisor
G&W Fondkommission acts as financial advisor to Meltron in connection with the rights issue.
Aktieinvest FK AB is the issuing agent. Advokatfirman Delphi is legal advisor to the Company. For more information, please contact:
Göran Lundgren, Chairman of Meltron AB, telephone: +46 70 467 4040; [email protected]
Meltron AB, Embassy House, Linnégatan 89C, 115 23 Stockholm
Read more at www.meltron.com
This information is information that Meltron AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, by the contact person set out above, at 15:30 on 2020-10-16.
This translation is provided as a service.
The following documents can be retrieved from beQuoted
Meltron-Pressrelease-2020-10-16-ENG.pdf About Meltron - "More than Just Light"
Meltron AB designs, manufactures and sells LED lighting solutions which are based on interdisciplinary application of electronics, optics, thermodynamics and nano-structures. "More Than Just Light" translates into energy savings, superior light quality, product life-time savings, increased productivity, safety and wellbeing. Meltron provides high quality solutions for the most demanding environments in infrastructure, industry, logistics and agriculture.
LED lighting is one of the fastest growing major industries of the world. The annual growth of the industrial sector currently amounts to 47 percent, and the entire market is projected to generate turnover of USD 100 billion in 2020, according to Edison Research.
Meltron's share is traded on NGM Nordic MTF under the ticker MLTR.
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