Meyer Burger Technology AG: Start of Subscription Period and Rights Trading
October 31, 2022 at 01:47 am EDT
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Meyer Burger Technology AG
/ Key word(s): Capital Increase
Meyer Burger Technology AG: Start of Subscription Period and Rights Trading
31.10.2022 / 06:45 CET/CEST
Existing shareholders who are holding Meyer Burger shares at the close of trading on October 31, 2022 should be allotted 1 subscription right per existing share held. Holders of 20 subscription rights are entitled to purchase 7 new shares at a price of CHF 0.267 per new share.
Trading of subscription rights at the SIX Swiss Exchange starts on November 1, 2022 and ends on November 7, 2022. The subscription period starts on November 1, 2022 and ends at 12:00 p.m. (noon) CET on November 9, 2022. First trading day of the new registered shares and settlement will be on November 11, 2022.
At the Extraordinary General Meeting held in Thun on 28 October 2022, the shareholders of Meyer Burger Technology Ltd ("Meyer Burger" or the "Company") approved the proposal of the Board of Directors regarding the agenda item with 98.58 percent of the votes to carry out an ordinary capital increase by issuing up to 934,671,850 new registered shares with a par value of CHF 0.05 per registered share. The funds from the planned capital increase are expected to enable Meyer Burger to expand annual manufacturing capacity for solar cells and solar modules to approximately 3 GW. At the Extraordinary General Meeting, a total of 1,111,844,450 shares (41.63 percent of the shares issued) were represented by 302 shareholders on site.
Meyer Burger shareholders are expected to receive one subscription right for each registered share they hold as of October 31, 2022 (after close of trading). The subscription rights will be transferable and tradable via the envisaged rights trading on SIX Swiss Exchange. 20 subscription rights grant their holders the right to subscribe to 7 new shares, subject to certain restrictions applicable to the offer of subscription rights, including legal restrictions in foreign jurisdictions.
Shareholders should receive in due course information from their custodian bank on the implementation of the ordinary capital increase and are requested to proceed in accordance with the instructions of the custodian bank if they wish to subscribe for shares and exercise their subscription rights.
Timing of the capital increase and rights issue
Date
October 31, 2022
- Publication of prospectus
November 1, 2022
- Start of subscription rights trading on SIX Swiss Exchange
- Start of subscription period
November 7, 2022
- End of subscription rights trading on SIX Swiss Exchange (close of trading)
November 9, 2022
- End of subscription period at 12:00 p.m. (noon) CET
- Potential Rump Placement
November 10, 2022
- Registration of the capital increase with the commercial register
November 11, 2022
- First trading day of the new shares
- Delivery of the New Shares against payment of the subscription price
In connection with the ordinary capital increase, the initial conversion price of the outstanding convertible bond (ISIN: CH1118223390) will be adjusted. The adjusted conversion price will be published on the Company's website on November 1, 2022.
Meyer Burger Technology AG is a Switzerland-based company operating as a holding entity of the Meyer Burger Group, engaged in systems and processes based on semiconductor technologies. The Company mainly focuses in photovoltaics (solar industry) but also covers important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials. The range of systems, production facilities and services along the value chain in photovoltaics encompasses wafers, solar cells, solar modules and solar systems. The Company operates across three continents, as well as provides service network with replacement parts and expendables, consumables, re-grooving services, process know-how, maintenance and customer service, training and other services. The Company established itself as an international brand by offering precision products and technologies. It operates Muegge GmbH as a wholly owned subsidiary.
MEYER BURGER TECHNOLOGY AG 
