Skip to main content

Thin Film Electronics ASA – Share Issue

Written by Customer Service on . Posted in Public Companies.

Reference is made to Thin Film Electronics ASA’s announcement on Oslo Børs on 28 April 2020 regarding the proposed private placement of shares raising NOK 25 million, which remains subject to approval by the Extraordinary General Meeting dated 20 May 2020 (the “Private Placement”). As foreshadowed in such announcement, and in order to secure the commitment by the consortium of investors, the Board has resolved, under the current board authorization to issue shares as provided by the 23 October 2019 extraordinary general meeting, to issue 5,859,357 shares to such investors, at a subscription price per share of NOK 0.11, equaling the proposed subscription price in the Private Placement. In the Board’s view, the financing arrangement now being offered by the consortium, in respect of which the share issue under the board authorization is a condition, is the best and only way forward in order for the Company to survive and continue operations.  Existing shareholders’ preferential rights are, therefore, deviated from in respect of this share issue; however, the Board wishes to reference the subsequent repair offering also proposed at the 20 May extraordinary general meeting. Following completion of this share issue, the Company’s share capital will NOK 7,089,823.18 divided into 64,452,938 shares, each share having a par value of NOK 0.11.###Thinfilm is Energizing InnovationTM with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm’s innovative solid-state lithium battery (SSLB) technology is uniquely positioned to enable the production of powerful, lightweight, and cost-effective rechargeable batteries for diverse applications. The company’s state-of-the-art flexible electronics manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of SSLB technology to established and expanding markets.Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.Contacts:Kevin Barber – Chief Executive Officer
Email: kevin.barber@thinfilmsystems.com
Tel: +1 408 503 7306Mallorie Burak – Chief Financial Officer
Email: mallorie.burak@thinfilmsystems.com
Tel: +1 408 503 7312
14 May 2020This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.