Ad hoc press release
Zurich, November 12, 2019
Details of planned capital increase
The Board of Directors of Edisun Power Europe Ltd. is asking today's extraordinary general meeting to increase the share capital from CHF 18'624'630 at present to up to CHF 31'074'630 by issuing up to 415'000 new registered shares with a nominal value of CHF 30 each. Edisun Power will also grant Bank Vontobel AG as lead manager a greenshoe option of up to 60'000 new registered shares from authorized capital.
The up to 415'000 new registered shares will be offered to existing shareholders under their subscription rights on the terms below. Any new shares not taken up in the subscription offer will be offered for subscription to existing and new investors along with the greenshoe shares in a placing.
Subscription offer and share placing
Existing shareholders will receive one subscription right for each registered share held when the stock market closes on November 13, 2019. Three subscription rights give the entitlement to subscribe to two new registered shares. Provided the ordinary capital increase proposed by the Board of Directors is approved by the extraordinary general meeting, the period for exercising subscription rights will start on November 14, 2019 and end at noon CEWT on November 22, 2019. There will be no trading in subscription rights. Any subscription rights not exercised within the subscription period will expire worthless and may no longer be claimed or taken into account. The bookbuilding period for the share placing will run from November 14 to noon CEWT on November 26, 2019.
The subscription/placing price is between CHF 120 and CHF 130 and will be set by Edisun Power taking into account the exercise of subscription rights and the results of the share placing.
Bank Vontobel AG has been appointed lead manager for the subscription offer and the share placing. Vontobel has also been authorized to undertake stabilization measures of up to 60'000 registered shares under Article 126 FMIO, starting on November 28, 2019 and running for a maximum of 30 calendar days.
Issue prospectus
The issue and listing prospectus for the subscription offer is expected to be published on the Edisun Power website on November 13, 2019.
Implementation of growth strategy
The funds raised in the capital increase are primarily intended to realize three further photovoltaic projects with an output of 134 MW in Portugal, accelerating the growth of the Group.
Commitment by Smartenergy Invest AG
Edisun Power's shareholder and partner Smartenergy Invest AG has given a commitment to the company to exercise its subscription rights and also to increase its stake to up to 30% if this is appropriate for the successful implementation of the transaction.
Indicative timetable
| November 14, 2019 |
Shares go ex-subscription rights
Subscription period starts
Placing period starts |
| November 22, 2019 |
Subscription period ends (noon CEWT) |
| November 26, 2019 |
Placing period ends (noon CEWT) |
| November 27, 2019 |
Announcement of result and subscription/placing price |
| November 28, 2019 |
Listing and first day of trading of new registered shares on
SIX Swiss Exchange |
| November 29, 2019 |
Delivery of and payment for new registered shares |
For further information
Rainer Isenrich, CEO, +41 44 266 61 21, info@edisunpower.com
Reto Simmen, CFO, +41 44 266 61 29, info@edisunpower.com
Edisun Power Group
A listed European solar energy producer, the Edisun Power Group finances and operates solar power installations in a number of European countries. Edisun Power began its involvement in this sector as far back as 1997. The company has been listed on the Swiss Stock Exchange since September 2008. Edisun Power has amassed extensive experience in the realization and acquisition of both national and international projects. Currently, the company owns a total of 37 solar energy installations in Switzerland, Germany, Spain, France and Italy.
EDISUN POWER EUROPE AG 
