Soltech Energy Sweden AB (publ) carries out rights issue of approximately SEK 228 million to finance continued expansion
The rights issue intends to finance continued expansion through the acquisition of companies in
The subscription period is 12-
Background and motif
The solar cell industry is undoubtedly one of the fastest growing industries in the world. The public sector, business and private individuals are queuing up to invest in solar energy and charging and storage solutions. The
We choose to approach our shareholders and will allot them all shares in both the rights issue and the possible over-allotment issue. The rights issue is 100% guaranteed by a guarantee consortium consisting of
Conditions and use of issue proceeds
The terms of the Rights Issue mean that five (5) existing shares give the right to subscribe for one (1) new share at a subscription price of
Of the income from the rights issue, which in case of full subscription amounts to approx
50% Business acquisition
40% Investments in subsidiaries
10% Investments in marketing and recruitment
When the Overallotment issue is fully subscribed, the opportunities for new company acquisitions and investments in existing companies are expanded according to the percentage distribution above.
The board’s decision on the Rights issue and, where applicable, the Overallotment issue is made with the support of the issue authorization given at the annual general meeting d.
Rights issue and possible Over-allotment issue in summary
The right to subscribe for new shares shall accrue to the company’s shareholders with preferential rights. Each share held on the record date
The last day for trading in the Company’s shares, including the right to obtain subscription rights in the Rights Issue, is 6/9 2022. Subscription for shares with the support of subscription rights must take place by cash payment during the period 12-26/ 9 2022. Subscription for shares without the support of subscription rights must be made on a special registration form during the period 12-26/9 2022. Payment for shares subscribed without the support of subscription rights must be made no later than three banking days after the issuance of the settlement note showing notice of allocation. The board has the right to extend the subscription period and last payment date.
In the event of a large interest in the rights issue, the board has the mandate to decide on an additional new issue (“Over-allotment issue”) of a maximum of 23,000,000 shares with a deviation from the shareholders’ pre-emptive rights. The price to acquire shares in the Over-allotment Issue is
The rights issue amounts to a maximum of 20,757,008 shares. This means that the share capital increases by a maximum
The over-allotment issue corresponds to a maximum of approximately 16 percent of the Company’s total share capital. If both the Rights issue and the Over-allotment issue are used, the share capital will increase by
Soltech has received guarantee commitments from a consortium consisting of external investors of approx
Shareholders who choose not to participate in the Rights Issue have the opportunity to compensate for the financial dilution effect by selling their subscription rights. Trading in subscription rights takes place during the period 12-21/9 2022.
Prospectus
The rights issue requires an approved prospectus from
Timetable for the Rights issue and possible Over-allotment issue
Last day for trading incl. right to participate 9/6 2022
Reconciliation date 8/9 2022
Subscription period 12-26/9 2022
Trading in subscription rights 12-21/9 2022
Board decision on allocation and possible Over-allocation issue 28/9 2022
Press release on issue results 28/9 2022
Notice of allocation and dispatch of settlement notes 28/9 2022
Settlement date for settlement notes 3/10 2022
Issuing institution
For further questions regarding subscription, contact your personal bank advisor, your manager or Soltech’s issuing institute
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