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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Thin Film Electronics ASA    THIN   NO0010299068

THIN FILM ELECTRONICS ASA

(THIN)
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Delayed Quote. Delayed Oslo Bors - 09/30 10:25:13 am
0.36 NOK   -1.96%
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Thin Film Electronics ASA : - Result of Subsequent Offering - Issuance of Offer Shares and Warrants

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09/16/2020 | 05:52pm EDT

Oslo, 16 September 2020

Reference is made to the stock exchange notices published by Thin Film Electronics ASA (the "Company") on 1 and 16 September 2020 regarding the Subsequent Offering.

The subscription period under the Subsequent Offering expired on 15 September 2020 at 16:30 CET, and the Subsequent Offering was more than nine times oversubscribed, including subscriptions from eligible shareholders, oversubscriptions, and subscriptions without subscription rights.

Further to the resolution by the Extraordinary General Meeting on 19 August 2020, the board of directors has resolved to allocate and issue the maximum of 66,666,666 Offer Shares at a subscription price of NOK 0.15 per Offer Share, thereby raising approximately NOK 10 million in the Subsequent Offering.

The subscribers who are allocated Offer Shares will receive a letter confirming the number of Offer Shares allocated and the corresponding amount to be paid by each subscriber. The letters are expected to be distributed on 17 September 2020. Payment for the allocated Offer Shares falls due on 22 September 2020.

Following payments of the subscription amounts and the registration of the Subsequent Offering with the Norwegian Register of Business Enterprises, the share capital of the Company will be NOK 83,571,427.50 divided into 759,740,250 shares, each with a par value of NOK 0.11. The Offer Shares will be delivered to the subscribers as soon as reasonably practicable following such registration. The shares issued in the Subsequent Offering may not be transferred or traded until they are fully paid and registered on the VPS account of the subscriber.

For every share subscribed for and allocated in the Subsequent Offering, one warrant will be attached and issued to such subscriber. As a consequence of the Subsequent Offering being fully subscribed, a total of 66,666,666 warrants will be issued as part of the Subsequent Offering. The warrants will be issued free of charge. Each warrant will entitle the holder to demand the issuance of one (1) share in the Company. The warrants ("Warrant C") will be exercisable at any time between 31 March and 30 June 2021 at an exercise price per share of NOK 0.25. The warrants are transferable but will not be listed and tradable on a regulated market.

Contact:
Kevin Barber - Chief Executive Officer
Email: kevin.barber@thinfilmsystems.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

© OMX, source OMX

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Financials
Sales 2019 0,70 M - -
Net income 2019 -78,4 M - -
Net Debt 2019 20,2 M - -
P/E ratio 2019 -1,74x
Yield 2019 -
Capitalization 291 M 30,8 M -
EV / Sales 2018 63,9x
EV / Sales 2019 50,8x
Nbr of Employees 23
Free-Float 65,3%
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Mean consensus -
Number of Analysts 1
Average target price
Last Close Price 0,37 
Spread / Highest target -
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Managers
NameTitle
Kevin D. Barber Chief Executive Officer
Morten Opstad Chairman
David Williamson Chief Financial Officer
Arvind Kamath EVP-Technology Development & Manufacturing
Preeti Rani Mardia Independent Director
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