Reference is made to the stock exchange notice published by Thin Film Electronics ASA (the “Company”) on 1 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 will consider the subscriptions and allocations of Offer Shares on 16 September 2020, following which an announcement will be made as to the number of Offer Shares to be allocated and the associated share capital increase in the Company.
Assuming the issuance of the maximum of 66,666,666 Offer Shares at a subscription price of NOK 0.15 per Offer Share, the Subsequent Offering would raise approximately NOK 10 million.
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.
For every share subscribed for and allocated in the Subsequent Offering, one warrant will be attached and issued to such subscriber. 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 2021 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.
Kevin Barber – Chief Executive Officer