Reference is made to the strategy presentation by
The extraordinary restrictions and consequences caused by the global outbreak of the coronavirus (Covid-19) provides practical challenges in respect of the fundraising process.
On this background, the Company hereby submits this announcement to set out its intent to undertake a private placement of shares in order to raise additional working capital in the Company. The intent is to undertake and complete the private placement in
The offer would be directed to less than 150 persons or entities. However, it is anticipated that the private placement would exceed 20% of the share capital, which, as a consequence, would require a listing prospectus in order for the contemplated new shares to be admitted to trading on Oslo Børs.
The intent is that the private placement can be directed toward both existing shareholders and new investors. Thinfilm hereby invites persons and/or entities, who may be interested to participate in the private placement, to submit a Notification of Interest to the Company. Such Notification of Interest should be sent by letter or e-mail to the following address:
(if by post):
c/o Advokatfirmaet Ræder AS
P.O. Box 2944 Solli
NO-0230
Attn.:
(if by e-mail):
E-mail: kevin.barber@thinfilmsystems.com with a copy to mallorie.burak@thinfilmsystems.com and cgc@raeder.no
Thinfilm hereby requests that such Notification of Interest be submitted to the Company by no later than Friday
Upon receipt of Notifications of Interest and upon further consideration and resolutions by the Board of Directors and the Extraordinary General Meeting to be called, Thinfilm would issue a subscription offer, which would include the detailed terms and conditions of the placement, hereunder the number of shares that may be subscribed for and the subscription price per share. The final resolution by the Board of Directors to proceed with a private placement would be announced in the Oslo Børs disclosure system.
Note that this announcement does not constitute an offer of securities for sale or issuance.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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