PARC, a Xerox company, is taking a minority stake in Thin Film Electronics ASA ("Thinfilm") as part of the collaboration between the two companies.
PARC will be issued 1,663,680 million new shares equal to NOK 2,785,000 through a private placement. The subscription price of NOK 1.674 per Thinfilm share equals the average closing share price for the last ten trading days up to and including 22 March 2011.
This capital increase is within the 20% authorization to issue new shares provided to the Board of Thinfilm by the AGM. Following consummation of the private placement, Thinfilm's share capital will be increased to NOK 30,831,909.46 consisting of 280,290,086 shares outstanding, each with a par value of NOK 0.11.
24 March 2011
Thin Film Electronics ASA
For further information, please contact:
Geir Harald Aase, VP Communications: +47 480 37 571/geir.aase(a)thinfilm.no
Thin Film Electronics ASA ("Thinfilm") is a publicly-listed Norwegian technology company with its head office in Oslo and product development in Linköping, Sweden. Thinfilm is a pioneer in the field of Printed Electronics, and provides fully-printed non-volatile, rewritable memory for applications in toys & games, logistics, sensor, and ID systems.
About Printed Electronics
The Printed Electronics market is expected to grow to more than USD 50 billion in annual market value over the next ten years, according to industry analyst group IDTechEx. IDTechEx predicts that logic, including addressable memory, will be the largest segment in this market.
Using printing to manufacture electronic memory makes it possible to reduce the number of process steps, resulting in dramatically lower manufacturing costs, and also reduced environmental impact as compared to traditional semiconductor processes. Commercial applications of printed electronics include e-paper, electronic readers, and organic light emitting (OLED) displays. Sensors, batteries, and photovoltaic energy sources are also in development, and together with Thinfilm's memory technology they will open the door to new products and applications, for example, in the field of RFID systems.
Memory is an essential part of most electronics. Memory is required for identification, tracking status, and history, and is used whenever information is stored. Thinfilm's non-volatile ferroelectric polymer memory technology is well suited for application with other printed electronics devices because power consumption during read and write is negligible, and as the memory is permanent, no connection to external power is required for data detainment. Also, the electric current required to write information is so small that operation would be limited by the battery's lifetime and not its capacity.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.