Ad hoc press release
Zurich, October 17, 2019
Extraordinary general meeting to be convened in light of a capital increase
As mentioned when the half-year result was announced, Edisun Power intends to realize three further photovoltaic systems with an output of 134 MW in Portugal, thus accelerating the Group's growth. The corresponding project rights and production licenses have already been secured. The systems are scheduled to be connected to the grid in the first half of 2021.
In order to finance these projects, the Board of Directors decided on October 17, 2019 to convene an extraordinary general meeting on November 12, 2019. It will be asked to approve an ordinary capital increase which is to be implemented in the form of subscription rights for existing shareholders and a free placement of the shares not subscribed.
In this context, a maximum of 475'000 new shares are to be issued, resulting in an increase in the current nominal share capital of CHF 18'624'630 to a maximum of CHF 32'874'630. The inflow of funds will mainly serve to finance the three Portuguese projects.
From today's perspective, the Board of Directors assumes that the issue price of the new shares will probably range from CHF 125 to 140. It bases its assumption on assurances provided by current major shareholders and concrete declarations of intent on a substantial scale which have been issued by third-party investors.
Due to the positive environment for investing in renewable energies, the transaction is to be executed shortly after the extraordinary general meeting. The further purchase and subscription conditions will probably be announced the morning before the extraordinary general meeting.
For further information
Rainer Isenrich, CEO, +41 44 266 61 21, firstname.lastname@example.org
Reto Simmen, CFO, +41 44 266 61 29, email@example.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.