Meltron AB (publ) makes a new issue with priority for current shareholders - the issue is guaranteed in full

This press release may not be published or distributed, neither directly nor indirectly, in or to the USA, Canada, Australia, Hongkong, Japan, New Zealand, South Korea, Switzerland, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be illegal.

The Board of Meltron AB (publ) ("Meltron" or the "Company") has, within the mandate given to it at the Annual Shareholders' meeting 20 August 2019, decided the make an issue of new shares with priority for current shareholders (the "Priority Issue" or the "Offer") of approximately 25 MSEK before costs of the issue. The proceeds will primarily be used to carry out the planned, increased sales activities, incl necessary working capital, for technical and business development and for operations. The issue is fully secured up to approximately 25 MSEK through guarantee commitments and pre-subscriptions; the Company has, however, neither requested nor received bank securities for these commitments.

Background and motive

Meltron develops, manufactures and sells advanced lighting systems built on LED technologies based on over 20 years of research and development. The work of the Company has generated a high quality, patent portfolio of products. Meltron today has a set of meriting important reference customers, which sets the scene and enables the Company to win further strategically important pilot orders. The Company's ambition is to develop the pilot orders into global frame agreements.

The current expansion phase with the target of winning further prestigious pilot orders and in parallel developing signed contracts calls for increased working capital and a reinforced marketing and sales organization. This is the background and the motive of the coming Priority Issue. The Company has received pre-subscription commitments of approx. 1,6 MSEK from the Board, management and main shareholders and guarantee commitments of approx. 23,4 MSEK from two consortia of investors, one base guarantee up to 82 % of the issue and a top guarantee from 82 % up to 100 % of the issue. This means the whole issue of approx. 25 MSEK is secured through pre-subscriptions and guarantees. The Company has, however, neither requested nor received bank securities for these commitments.

The Company will receive net proceeds of approx. 22,2 MSEK after costs for the issue of approx. 2,6 MSEK. The base guarantors are further compensated either by off-set of additional shares at the same terms as of the issue (14 % fee or approx. 2,65 MSEK), or alternatively in cash (12 % or approx. 2,3 MSEK). The top guarantors are compensated with 15 % of guaranteed amount by off-set of additional shares (equal to approx. 0,7 MSEK). Of the net proceeds 2 MSEK will be used for repayment of previous bridge loans.

Net proceeds of the Offer are planned to be used as follows:

Marketing and sales organisation: 40 %
Research and technical development: 17 %
Production capacity: 20 %
Repayment of bridge loans: 9 %
Other working capital: 14 %


The net proceeds of the Priority Issue will strengthen the Company's financial situation and is deemed, including current cash, to suffice to secure the Company's business strategy and strategic objectives for the desired development for the next 12 months. With a large interest The Board may have the opportunity to issue further shares on the same terms in a directed issue up to approx. 4 MSEK.

The Priority Issue in summary

  • Registered shareholders on the balance day will receive one (1) subscription right for every one (1) current share
  • Eight (8) subscription rights will ghive the right to subscribe for five (5) new shares
  • Every new share will have the same rights as current shares of the same class (the Company currently has one class of ordinary shares)
  • Subscription price is 0,25 SEK/share
  • The balance day for the right to participate in the Priority Issue is 24 September 2020
  • At full subscription Meltron receives approx 25 MSEK before costs for the issue
  • The subscription period is 28 Septber - 13 October 2020
  • The Priority Issue is guaranteed 100 % by guarantee and pre-subscription commitments; however, the Company has neither requested nor received bank securities for these commitments.
  • With a large interest The Board may have the opportunity to issue further shares on the same terms in a directed issue up to approx. 4 MSEK.

Preliminary schedule

Tuesday 22 September 2020: Last day of trading of the share including the right to participate

Wednesday 23 September 2020: First day of trading of the share without the right to participate

Thursday 24 September 2020: Balance day for subscription rights and right to participate in the Priority Issue

Monday 28 September 2020: Preliminary date for publication of Memorandum of Issue

Monday 28 September 2020: Subscription period starts, start of trading of subscription rights and BTA (paid shares)

Friday 9 October 2020: Trading of subscription rights ends

Tuesday 13 October 2020: Subscription period ends

Friday 16 October 2020: Results of Priority Issue is published. Notes of subscription are distributed.

Terms of the Priority Issue
The Board of Meltron decided on 25 August 2020, within the mandate authorized at the Annual Shareholders' Meeting 20 August 2019, to do a Priority Issue of up to 100 069 720 new shares. Furthermore, in case of great interest in the issue, the Board may decide to issue further approx. 16 million shares in an additional directed issue, which would generate further proceeds of approx. 4 MSEK. Additionally, shares may be issued to off-set guarantee fees as well as part of the fee of the financial advisor.

Meltron's share capital before the issue is 40 027 888,25 SEK with 160 111 553 shares. The nominal value of the share is 0,25 SEK. There is only one class of shares. Subscription of all shares of the Priority Issue will increase the share capital with 25 017 430 SEK.

Eight (8) current shares gives the right to subscribe for five (5) new share at 0,25 SEK/share. On the balance day, every current share gives one (1) subscription right and eight (8) subscription rights entitle subscription of five (5) new shares.

Guarantee commitments
The Priority Issue is guaranteed by contracts with external investors, in addition to pre-subscriptions by current shareholders, in a base guarantee up to approx. 20,5 MSEK, equal to approx. 82 % of the Priority Issue. The guarantee fee is 12 % of guaranteed amount in cash or 14 % if off-set for shares on the same terms as in the Priority Issue. Additionally, a top guarantee has been syndicated for the remainder up to 100 % of the issue, approx. 4,4 MSEK. Top guarantors are compensated with 15 % by off-set for shares on the same terms, approx. 0,7 MSEK. Pre-subscriptions are not compensated. No cash or other assets have been pledged and no other securities have been provided for these commitments. Further information on the parties of the guarantee commitments will be presented in the Memorandum of Issue, which in accordance with the preliminary schedule above will be available 28 September 2020.

Advisors
G&W Fondkommission is the financial advisor of Meltron for the Priority Issue. Aktieinvest FK AB is the issuing institute. The law firm Delphi is legal advisor to the Company.

Important information
Publication or distribution of this press release may in certain jurisdictions be subject to limitations by law and recipients in jurisdictions where this press release has been publicized or distributed should inform themselves of and follow such legal restrictions.

This press release may not be published or distributed, neither directly nor indirectly, in or to the USA, Canada, Australia, Hongkong, Japan, New Zealand, South Korea, Switzerland, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be be subject to legal restrictions. The information of this press release may not be forwarded, reproduced or displayed in a way conflicting with such restrictions. Negligence to follow this guidande may be a violation of the United States Securities Act of 1933 ("Securities Act") or applicable laws and regulations in other jurisdictions.

Neither the subscription rights, the subscribed and paid shares or the new shares will be registered in accordance with the Securities Act or any provincial law in Canada and may not be transferred to or offered for sale in the USA or Canada or to a person with domicile there or on behalf of such person unless in such cases where registration is not required by the Securities Act or any provincial law in Canada.

Meltron - "More than Just Light"

Meltron AB designs, manufactures and sells LED lighting solutions which are based on interdisciplinary application of electronics, optics, thermodynamics and nano-structures. "More than Just Light" translates into energy savings, superior light quality, product life-time savings, increased productivity, safety and wellbeing for all. Meltron provides high quality solutions for the most demanding environments in infrastructure, industry, logistics and agriculture.

LED lighting is one of world's fastest growing industries. For this sector the annual growth is 47 % and the total market for 2020 is expected at 100 billion USD, according to Edison Research

LED lighting is one of world's fastest growing industries. For this sector the annual growth is 47 % and the total market for 2020 is expected at 100 billion USD, according to Edison Research.

The Meltron share is traded on NGM Nordic SME under short name MLTR.

For further information please contact:

Göran Lundgren, chairman Meltron AB, tel: +46 70 467 4040; goran.lundgren@meltron.com

Meltron AB, Embassy House, Linnégatan 89C, 115 23 Stockholm

Läs mer på www.meltron.com

This information is such information which Meltron AB (publ) is obliged to publish in accordance with the EU's Market Abuse Regulation (MAR). The information was provided by the contact person above for publication 2020-08-25 at 11:15.

Nerladdningsbara filer



Meltron publicerar emissionsmemorandum

Detta pressmeddelande får inte offentliggöras, publiceras eller distribueras, vare sig direkt eller indirekt, i eller till USA, Kanada, Australien, Hongkong, Japan, Nya Zeeland, Sydkorea, Schweiz, Singapore eller Sydafrika eller i någon annan jurisdiktion där distribution av detta pressmeddelande skulle vara olaglig.


Kommuniké från årsstämman i Meltron AB (publ) den 25 september 2020

Vid årsstämma i Meltron AB (publ), org.nr 556988-9834, ("Bolaget") den 25 september 2020 fattades bland annat följande beslut. För mer detaljerad information om innehållet i besluten hänvisas till kallelsen till årsstämman samt fullständiga förslag till beslut, som tidigare har publicerats och finns tillgängliga på Bolagets hemsida, www.meltron.com


Report from the Annual General Meeting of Meltron AB (publ) on 25 September 2020

At the annual general meeting (the "AGM") of Meltron AB (publ), reg. no 556988-9834, (the "Company"), on 25 September 2020 the AGM adopted, inter alia, the following resolutions. For more detailed information regarding the contents of the resolutions, please refer to the notice to the AGM and the complete proposals, which have previously been published and are available on the Company's website, www.meltron.com.




Meltron offentliggör Årsredovisning 2019-20

Meltron AB (publ) offentliggör sin Årsredovisning för the förlängda räkenskapsåret 2019-05-01-2020-06-30, som nu finns tillgänglig på Bolagets hemsida www.meltron.com och investor.meltron.com tillsammans med revisionsberättelsen. Bokslutskommunikén publicerades 2020-08-26.


Meltron publishes Annual Report 2019-20

Meltron AB (publ) today publishes its Annual Report for the extended financial year 2019-05-01-2020-06-30, which is now available on the Company's web site www.meltron.com and investor.meltron.com together with the auditor's report. English translations will soon be available. The year-end report was published 2020-08-26.


Meltron AB (publ) kallar till Årsstämma 25 Sept

KALLELSE TILL ÅRSSTÄMMA I MELTRON AB (PUBL)


Meltron AB (publ) calls Annual General Meeting on 25 September 2020

NOTICE TO ATTEND THE ANNUAL GENERAL MEETING IN MELTRON AB (PUBL)


Meltron AB (publ), 556988-9834 - Bokslutskommuniké för perioden 2019-05-01 - 2020-06-30

Verksamhetsperioden i sammandrag

Augusti 2019: Dagens Meltron bildas genom samgående med Meltron Oy

Augusti 2020: Fortsatt expansion säkras genom garanterad företrädesemission om 25 MSEK



Meltron AB (publ) genomför nyemission med företrädesrätt för befintliga aktieägare -emissionen är säkrad fullt ut genom garanti

Detta pressmeddelande får inte offentliggöras, publiceras eller distribueras, vare sig direkt eller indirekt, i eller till USA, Kanada, Australien, Hongkong, Japan, Nya Zeeland, Sydkorea, Schweiz, Singapore eller Sydafrika eller i någon annan jurisdiktion där distribution av detta pressmeddelande skulle vara olaglig.

Styrelsen för Meltron AB (publ) ("Meltron" eller "Bolaget") har, med stöd av bemyndigandet som erhölls vid årsstämman den 20 augusti 2019, beslutat att genomföra en nyemission av aktier med företrädesrätt för befintliga aktieägare ("Företrädesemissionen" eller "Erbjudandet") om cirka 25 MSEK före emissionskostnader. Emissionslikviden kommer främst att användas till att genomföra planerade, ökade säljaktiviteter, inklusive därför nödvändigt rörelsekapital, till teknik- och affärsutveckling samt till övrig drift. Företrädesemissionen är säkrad till 100 procent upp till ca 25 MSEK genom garantiåtaganden och teckningsförbindelser, dock utan att Bolaget vare sig begärt eller erhållit bankmässig säkerhet för dessa åtaganden.


Meltron AB (publ) makes a new issue with priority for current shareholders - the issue is guaranteed in full

This press release may not be published or distributed, neither directly nor indirectly, in or to the USA, Canada, Australia, Hongkong, Japan, New Zealand, South Korea, Switzerland, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be illegal.

The Board of Meltron AB (publ) ("Meltron" or the "Company") has, within the mandate given to it at the Annual Shareholders' meeting 20 August 2019, decided the make an issue of new shares with priority for current shareholders (the "Priority Issue" or the "Offer") of approximately 25 MSEK before costs of the issue. The proceeds will primarily be used to carry out the planned, increased sales activities, incl necessary working capital, for technical and business development and for operations. The issue is fully secured up to approximately 25 MSEK through guarantee commitments and pre-subscriptions; the Company has, however, neither requested nor received bank securities for these commitments.




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