Soltech Energy Sweden AB (publ) (“Soltech Energy”) has offered its shareholders to acquire up to 7,272,043 shares in Advanced Soltech Sweden AB (publ) (“Advanced Soltech” or “Company”) (“Offer”). The application period for the Offer expired on October 27, 2021. The final result of the Offer shows that a total of 3,654,016 shares in Advanced Soltech were acquired through the exercise of call options, corresponding to approximately 50 percent of the Offer. Applications for the acquisition of a total of 948,295 Advanced Soltech shares without exercising call options, corresponding to approximately 13 percent of the Offer, were received. Approximately 63 percent of the Offer was thus subscribed during the application period, which means that 100 percent of the external guarantee commitments will be utilized, corresponding to approximately 25 percent of the Offer, and that approximately 15 percent of the guarantee commitments. from the existing principal owners Soltech Energy and Advanced Solar Power Hangzhou Inc. (“ASPEN”) will be utilized, corresponding to approximately 11 percent of the Offer. After the utilization of guarantee commitments, the payment to Advanced Soltech from the Offer will total approx. SEK 196 million, before deductions for costs related to the Offer.
As announced on September 28, 2021, Nasdaq Stockholm AB has approved Advanced Soltech’s listing application for the Nasdaq First North Growth Market, subject to customary terms. These conditions are now met. Trading in the Advanced Soltech share on the Nasdaq First North Growth Market is expected to begin October 29, 2021.
Max Metelius, CEO, comments:
“As CEO of Advanced Soltech, I am proud and happy about the great interest shown in the Company during the listing process, which will be a great asset for our future growth journey. Advanced Soltech has a well-developed competence and is today an established player in the world’s largest “solar energy market, which together with our listing creates a solid platform for continued growth. It is with great pleasure that I welcome the new shareholders on our continued journey.”
Frederic Telander, acting chairman of the board, comments:
Advanced Soltech’s employees and management have established a successful business model in the rapidly growing market for green energy in China. The company has not only succeeded in financing and establishing a portfolio of 134 electricity-generating solar panels with a total capacity of 192.5 MW, but has also contributed to reducing environmental emissions. Through the listing on the First North Growth Market, the Company will have access to additional capital for growth and a platform that enables reduced financing costs. As a result, Advanced Soltech is well equipped for the future. ”
About Advanced Soltech
Advanced Soltech is a power producer of renewable electricity that finances, owns and operates roof-mounted photovoltaic systems in China. The company enters into 20-year agreements with the owners of large properties, which undertake to purchase the electricity produced during the term of the contract. The electricity purchased from Advanced Soltech is priced at a discount of approximately 10–15 percent compared with the price that the customer would pay for electricity from the grid.
Advanced Soltech is headquartered in Stockholm, Sweden and the wholly owned local operating subsidiary Advanced Soltech Renewable Energy Hangzhou Co. Ltd. (“ASRE”) Is headquartered in Hangzhou, China.
ASRE was founded in 2015 as a joint venture between the Swedish solar energy company Soltech Energy and the Chinese solar panel manufacturer ASP with the vision to accelerate the migration to renewable energy through a solar-as a service offer, where electricity is produced by solar cell PV installations sold to customers instead of themselves the photovoltaic plant.
With its offering of solar energy as a range of services, Advanced Soltech can create interest from previously untapped customer segments in the rapidly growing market for renewable energy in China because the company’s solution offers a simple and attractive alternative to traditional solar energy solutions where the property owners themselves would need to install and maintain their own solar panels.
Advanced Soltech has, from June 30, 2021, a portfolio of 134 electricity-generating solar panels with a total capacity of 192.5 MW and has reached a stage in its development where the business model has become commercially viable. In addition to the operational solar panel installations, there is a pipeline of projects with a total capacity of 123 MW. In addition, there are signed contracts corresponding to 37 MW.
Carnegie Investment Bank AB (publ) (“Carnegie”) and DNB Markets, part of the DNB Bank ASA, Sweden branch (“DNB”) act as Joint Global Coordinators in connection with the Offer. Advokatfirma DLA Piper Sweden KB is the legal advisor to the Company and Gernandt & Danielsson Advokatbyrå KB is the legal advisor to the Joint Global Coordinators.
For further information contact:
Frederic Telander, Working Chairman of the Board
[email protected], +46 (0) 70 525 16 03
Max Metelius, VD
[email protected], +46 (0) 72 316 04 44
Lars Höst, CFO
[email protected], +46 (0) 72 229 00 36
This announcement does not constitute an offer of securities in Advanced Soltech Sweden AB (publ) (the “Business“) in any jurisdiction.
This notice does not constitute a prospectus in any jurisdiction, including for the purposes of Regulation (EU) 2017/1129 of European Parliament and by the Council of June 14, 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71 / EC (together with related implementing rules and delegated regulations, “The Prospectus Ordinance”), And has not been approved by any regulatory authority in any jurisdiction. A prospectus in connection with the Offer will be prepared and published by the Company on the Company’s website. Investors should not invest in any securities referred to in this notice except on the basis of the information in the above prospectus.
In any EEA Member State other than Sweden, this notice is addressed only to and to qualified investors in that Member State within the meaning of the Prospectus Regulation, ie only to investors who can accept the offer without an approved prospectus in such an EEA Member State.
The content of this announcement has been prepared by and is the sole responsibility of the company. The information in this notice is for background purposes only and is not intended to be exhaustive or complete. No person may rely for any purpose on the information in this notice or its accuracy, fairness or completeness.
This notice and the information herein are not for publication, distribution or publication, directly or indirectly, in or in Australia, Canada, Hong Kong, Japanese, New Zealand, Singapore, UK, South Africa, Switzerland, South Korea and United States of America or any other jurisdiction where publication, distribution or publication would be illegal. This announcement is not an offer to sell or an invitation to make an offer to buy any securities issued by the company in any jurisdiction where such an offer or such sale would be illegal.
This announcement does not constitute, or forms part of, an offer to sell, or an invitation to an offer to buy, the shares and / or other securities of the company referred to in this announcement in United States including its territories and property and any state United States. The shares and / or other securities referred to in this notice have not been and will not be registered under the Securities Act, or with any securities regulator in any state or other jurisdiction in United States, and may not be offered or sold within United States absent registration or an applicable exemption from, or in a transaction not covered by, the registration requirements of the Securities Act. The offer and sale of the securities referred to here have not been registered and will not be registered under the applicable securities laws in Australia, Canada, Hong Kong, Japanese, New Zealand, Singapore, UK, South Africa, Switzerland, South Korea and United States of America. With certain exceptions, the securities referred to herein may not be offered or sold Australia, Canada, Hong Kong, Japanese, New Zealand, Singapore, UK, South Africa, Switzerland, South Korea and United States of America or to, or on behalf of, or for the benefit of, any national, resident or national of Australia, Canada, Hong Kong, Japanese, New Zealand, Singapore, UK, South Africa, Switzerland, South Korea and United States of America. There has been and will not be a public offering of securities in Australia, Canada, Hong Kong, Japanese, New Zealand, Singapore, UK, South Africa, Switzerland, South Korea and United States of America.
In it UK this notice is distributed only to, and is directed to, qualified investors (i) who have professional experience in matters relating to investments covered by Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended ( the “Order“) Or (ii) covered by Article 49 (2) (A) to (D) of the Order; and (iii) to whom it may otherwise be lawfully communicated (all such persons are collectively designated as “Relevant people”). This announcement and any investment or investment activity to which it relates will only be devoted to UK, by persons who are Relevant persons. This notice should not be acted upon or trusted by anyone other than Relevant Persons in UK.
Statements included in this announcement that are not historical facts (including statements about investment objectives, other plans and objectives for the management of future operations or financial results, or assumptions or forecasts related thereto) are, or may be considered, “forward-looking statements These forward-looking statements can be identified using forward-looking terminology, including the terms “believe”, “appreciate”, “plans”, “project”, “anticipate”, “expect”, “intend”, “aim”, “,” goals “,” can “,” will “or” should “or, in any case, their negative or other variations or comparable terminology, or through discussions about strategy, plans, goals, objectives, future events or intentions. Forward-looking statements can, and often do, differ significantly from actual results. All forward-looking statements reflect the company’s current view of future events and are subject to risks related to future events and other risks, uncertainties and assumptions.