Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Meyer Burger Technology AG    MBTN   CH0108503795

MEYER BURGER TECHNOLOGY AG

(MBTN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Successful rights issue of Meyer Burger Technology Ltd – 99% of subscription rights exercised

share with twitter share with LinkedIn share with facebook
07/22/2020 | 01:15pm EDT

Successful rights issue of Meyer Burger Technology Ltd - 99% of subscription rights exercised

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces today that 98.9% of the subscription rights have been exercised until the end of the subscription period on 22 July 2020, 12:00 CEST. In total, 1,272,465,688 new registered shares were offered to existing shareholders at a subscription price of CHF 0.09 per share. The 13,718,276 new registered shares to be issued, for which the subscription rights have not been exercised, will be sold in the market. The rights issue will thus generate gross proceeds of around CHF 115 million.

Prior to the capital increase, so-called PIPE investors (Private Investment in Public Equity) have committed themselves to subscribe for approximately 30% of the total number of new shares to be issued at a subscription price of CHF 0.09 per share, corresponding to gross proceeds of around CHF 50 million. With the completion of the capital increase, the company will thus receive gross proceeds totalling approx. CHF 165 million.

The first trading day of the new shares on SIX Swiss Exchange is scheduled for 29 July 2020. Delivery of the new shares against payment of the subscription price is also planned for 29 July 2020. The increased share capital of Meyer Burger will amount to CHF 125,757,560.30 divided into 2,515,151,206 registered shares with a nominal value of CHF 0.05 each.

Upon completion of the transaction, the conversion price of the outstanding convertible bond of Meyer Burger Technology Ltd (ISIN CH0253445131) will be adjusted in accordance with the bond terms. The conversion price will be reduced from CHF 0.98 per registered share to CHF 0.4863. Thus, the conversion ratio for bonds with denominations of CHF 5,000 each is increased from 5,102.04082 to 10,281.7191 registered shares of Meyer Burger Technology Ltd. All other terms remain unchanged.

The successful capital increase paves the way for Meyer Burger's transformation to a manufacturer of solar cells and solar modules. Production is to start in the first half of 2021 with 400 MW solar cells and 400 MW solar modules. An expansion of the production capacity up to 5 GW is planned by 2026. In this respect, letters of intent to purchase from potential customers in Europe and the USA have already been received in excess of 2 GW per year. Initially, solar modules are to be produced primarily for the attractive segment of roof top systems. The Board of Directors expects that the newly aligned Meyer Burger Group may be able to achieve an operating profit already with this production volume.

Contacts:

Nicole Borel

Head of Corporate Communications

Tel: +41 (0)33 221 28 34

nicole.borel@meyerburger.com

Dynamics Group AG

Andreas Durisch, Senior Partner
Tel +41 43 268 27 47 | Mob +41 79 358 87 32

adu@dynamicsgroup.ch




Provider
Channel
Contact
EQS Group Ltd., Switzerland
switzerland.eqs.com


newsbox.ch
www.newsbox.ch


Provider/Channel related enquiries
cs.switzerland@eqs.com
+41 41 763 00 50

share with twitter share with LinkedIn share with facebook
All news about MEYER BURGER TECHNOLOGY AG
10/23MEYER BURGER TECHNOLOGY : and CSEM extend collaboration for the joint developmen..
PU
10/23MEYER BURGER TECHNOLOGY : and CSEM extend collaboration for the joint developmen..
EQ
10/01MEYER BURGER TECHNOLOGY : Closing of the sale of the microwave and plasma techno..
PU
10/01Closing of the sale of the microwave and plasma technology company Muegge Gmb..
TE
09/28MEYER BURGER TECHNOLOGY : New CFO for Meyer Burger Technology Ltd
PU
09/28New CFO for Meyer Burger Technology Ltd
TE
09/24MEYER BURGER TECHNOLOGY LTD : Repayment of convertible bond completed
PU
09/24MEYER BURGER TECHNOLOGY LTD : Repayment of convertible bond completed
TE
09/21MEYER BURGER TECHNOLOGY : Corporate Presentation Sept 2020 EN
PU
08/13MEYER BURGER TECHNOLOGY LTD : Half Year Results 2020
TE
More news
Financials
Sales 2020 103 M 113 M 113 M
Net income 2020 -80,5 M -88,8 M -88,8 M
Net cash 2020 103 M 113 M 113 M
P/E ratio 2020 -9,17x
Yield 2020 -
Capitalization 632 M 697 M 697 M
EV / Sales 2020 5,16x
EV / Sales 2021 6,00x
Nbr of Employees 657
Free-Float 85,2%
Chart MEYER BURGER TECHNOLOGY AG
Duration : Period :
Meyer Burger Technology AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MEYER BURGER TECHNOLOGY AG
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Average target price 0,24 CHF
Last Close Price 0,25 CHF
Spread / Highest target 11,1%
Spread / Average Target -4,76%
Spread / Lowest Target -20,6%
EPS Revisions
Managers
NameTitle
Gunter Erfurt Chief Executive & Technology Officer
Franz Richter Chairman
Jürgen Schiffer Chief Financial Officer
Andreas R. Herzog Non-Executive Director
Mark Kerekes Director
Sector and Competitors