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This press release may not be published or distributed, neither directly nor indirectly, in or to the USA, Canada, Australia, Hongkong, Japan, New Zealand, South Korea, Switzerland, Singapore or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 today, subject to approval at the Annual Shareholders' Meeting 1st October 2021, decided the make an issue of new shares with priority for current shareholders (the "Priority Issue" or the "Offer") of approximately 26 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, for repayment of short term loans and for operations. The issue is fully secured through guarantee 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, also with partnerships. During the latest half year the Company has made significant progress in discussions with large, global cooperation partners, which will open new, important channels for marketing and sales. This is the background and the motive of the coming Priority Issue. The Company has received guarantee commitments of approx. 26 MSEK from two consortia of investors, one base guarantee up to 90 % of the issue and a top guarantee up to 100 % of the issue. This means the whole issue of approx. 26 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. 20 MSEK after costs for the issue and the guarantees. The base guarantors are further compensated in cash 10 % (approx. 2,3 MSEK). The top guarantors are compensated with 11 % in cash (equal to approx. 0,3 MSEK). This is irrespective of a possible supplementary directed issue of approximately 5 MSEK. Of the net proceeds 6 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 25 %
Research, technical development, certifications 10 %
Production capacity 10 %
Repayment of bridge loans 30 %
Other working capital 25 %


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 18 months. In case of a large interest the Board may have the opportunity to issue further shares on the same terms in a directed issue up to approx. 5 MSEK in a directed issue.

The Priority Issue in summary

  • Registered shareholders on the balance day will receive one (1) subscription right for one (1) current share
  • One (1) subscription right will give the right to subscribe for one (1) new share
  • 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 0,09 SEK/share
  • The balance day for the right to participate in the Priority Issue is 4 October 2021
  • At full subscription Meltron receives approx. 26 MSEK before costs for the issue
  • The subscription period is 6 - 20 October 2021
  • 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. 5 MSEK.
  • The Annual General Meeting 1st October 2021 will be proposed to approve the Board's decision on the Priority Issue and on a reduction of share capital (see below under "Conditions of the Priority Issue"). The invitation to the Annual General Meeting will be made public on 31st August 2021.

Preliminary schedule

  • Thu 30 Sept2020 Last day of trading of the share incl the right to participate
  • Fri 1 Oct 2021 First day of trading of the share without the right to participate
    Annual General Meeting
  • Mon 4 Oct 2021 Balance day for subscription rights and right to participate in the Priority Issue
  • Wed 6 Oct 2021 Preliminary date for publication of Memorandum of Issue
    Subscription period starts, start of trading of subscription rights and BTA (paid shares)
  • Fri 15 Oct 2021 Trading of subscription rights ends
  • Wed 20 Oct 2021 Subscription period ends
  • Mon 25 Oct 2021 Results of Priority Issue is published. Notes of subscription are distributed.

Conditions of the Priority Issue
The Board of Meltron decided on 30 August 2021, subject to approval by the coming Annual General Meeting (AGM), to do a Priority Issue of up to 288 219 331 new shares. The Priority Issue is also conditional on the AGM resolving to reduce the share capital, without reduction of number of shares, to cover losses and to transfer to unrestricted equity, whereby the Company's share capital is reduced from 48 141 792,25 SEK to 25 939 739,79 SEK. Provided the Board's proposal to reduce the share capital is approved by the AGM, then the nominal value of the share is reduced from 0,25 SEK/share to 0,09 SEK/share and Meltron's share capital before the issue will be 25 939 739,79 SEK and the number of shares will be 288 219 331 shares. All shares are the same class. When all shares of the issue are subscribed the Company's share capital will increase with maximum 25 939 739,79 SEK.

One (1) current share gives the right to subscribe for one (1) new share at 0,09 SEK/share. On the balance day, every current share gives one (1) subscription right and one (1) subscription right entitle subscription of one (1) new share.

in case of great interest in the issue, the Board may decide to issue further approx. 55 million shares in an additional directed issue, which would generate further proceeds of approx. 5 MSEK.

Guarantee commitments
The Priority Issue is guaranteed by contracts with external investors in a base guarantee up to approx. 23,6 MSEK, equal to approx. 90 % of the Priority Issue. The guarantee fee is 10 % of guaranteed amount in cash. Additionally, a top guarantee has been syndicated for the remainder up to 100 % of the issue, approx. 2,3 MSEK. Top guarantors are compensated with 11 % of guaranteed amount in cash, approx. 0,3 MSEK. 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 6 October 2021.

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.

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. Read more at www.meltron.com

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

For further information, contact:
Göran Lundgren, chairman of the Board
Ph: +46 70 467 40 40
E-mail: [email protected]

Meltron AB (publ)

Malmgårdsvägen 63, 116 38 Stockholm.
Org. nr: 556988-9834. Web page: www.meltron.com

This information is information that Meltron AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and to regulatory requirements for trade on NGM Nordic SME. The information was submitted for publication in Swedish, by the contact person set out above, on 30th Aug 2021, at 08.30 CET. This English version is published as a service; in case of discrepancies the Swedish version will prevail

Förändringar i styrelse och ledningen för Meltron

Styrelsen för Meltron AB har beslutat att genomföra förändringar i ledningen av bolaget, varvid Bolagets VD Ville Sistonen avgår och nuvarande ordförande Göran Lundgren tillträder som tillförordnad VD i Meltron AB. I samband med detta avgår Göran Lundgren som ordförande men kvarstår som styrelseledamot. Styrelsen har utsett Elisabet Wahlman att leda arbetet som tillförordnad ordförande. Nuvarande CFO Mikko Sola tar över som VD för den finska verksamheten i Meltron Oy. Därutöver lämnar Pekka Pättiniemi på egen begäran styrelsen i Meltron.


Changes in Meltron's Board and management

The Board of Directors of Meltron AB has decided to implement changes in the Company's management. The CEO of the Company, Ville Sistonen, resigns, and the current Chairman of the Board, Göran Lundgren, takes position as acting interim CEO of Meltron AB. In connection with these changes, Göran Lundgren steps down as Chairman but remains on the Board of Directors. The Board of Directors has appointed Elisabet Wahlman to direct the work as acting Chairman of the Board. Mikko Sola, current CFO, takes over as CEO of the Finnish operations in Meltron Oy. Moreover, Pekka Pättiniemi steps down from the Board of Directors of Meltron at his own request.


Meltron får en order på High-Bay från UPM i Valkeakoski, Finland

Meltron har säkrat en order på 30,000 EUR från ett av de största företagen i Finland, UPM, ett globalt skogsföretag. UPM's produktionsanläggning i Valkeakoski har beställt cirka 100 enheter av Meltron's avancerade LED High-Bay system, som är designat för stora industrihallar. Detta är första gången UPM beställer High-Bay systemet, och det är den andra UPM-anläggningen, som kommer installera Meltrons produkter. UPM i Jämsänkoski har redan Meltron's PL och PLS produkter.


Meltron receives first High-Bay order from UPM at Valkeakoski, Finland

Meltron has secured a 30,000 EUR order from one of the biggest companies in Finland, UPM, a global forest company. UPM's Valkeakoski production site has ordered about 100 units of Meltron's advanced LED High-Bay system, designed for large industrial halls. This is the first time UPM orders the High-Bay system, and it is the second UPM production site which will be using Meltron's products. UPM at Jämsänkoski is already using Meltron's PL and PLS-system products.



Meltron AB receives approx 26 MSEK from completed priority share issue

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.

Meltron AB (publ) ("Meltron" or "the Company") today announces that the Company's priority share issue of approximately 26 MSEK has been subscribed at approx 59,4 %. The balance up to the full amount is covered by the two guarantee consortia syndicated in preparation of the transaction.


Meltron AB: Teckningstiden startar i nyemission med företrädesrätt för aktieägarna

Idag, den 11 oktober 2021, är den första teckningsdagen i nyemission med företrädesrätt för aktieägarna. Teckning av aktier kan ske fram till och med den 25 oktober 2021.


Meltron AB: Subscription period starts in share issue with priority for current shareholders

Today, 11 October 2021, is the first day of subcription in Meltron's share issue with priority for current shareholders. Subscription for shares is open through 25 October 2021.


Meltron får första beställning från en ledande dryckestillverkare

Meltron har fått en första beställning från en ledande vin&sprit tillverkare i Norden, som avser en installation av explosionssäkra LED armaturer. Ordern är på drygt 30 000 euro och kommer att levereras i år.


Meltron receives first order from a leading beverage company

Meltron has received a first time order from a leading wine & spirit company in the Nordic region for its explosive proof LED-lighting system. The order is in excess of 30 000 € and will be delivered this year.


Kommuniké från årsstämman i Meltron AB (publ) den 1 oktober 2021

Vid årsstämma i Meltron AB (publ), org.nr 556988-9834, ("Bolaget") den 1 oktober 2021 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 1 Oct 2021

At the annual general meeting (the "AGM") of Meltron AB (publ), reg. no 556988-9834, (the "Company"), on 1 October 2021 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.


Huawei and Meltron launch collaboration to introduce a new digital approach to boost sustainable development of cities worldwide

Huawei Technologies Oy and Meltron Oy have entered into a Memorandum of Understanding and agreed a plan to introduce an ambitious solution which combines and integrates the strengths of the cutting-edge ICT technologies offered by Huawei and the superior Meltron lighting solutions.


Huawei och Meltron samarbetar kring införande av ny digital strategi för att främja hållbar utveckling i städer världen över

Huawei Technologies Oy och Meltron Oy har tecknat ett Memorandum of Understanding och enats om en plan för att lansera ambitiösa lösningar för hållbara städer, som förenar och integrerar fördelarna hos Huaweis banbrytande informations- och kommunikationstekniker (ICT) och Meltrons överlägsna belysningslösningar.


Meltron offentliggör Årsredovisning 2020-21

Meltron AB (publ) offentliggör sin Årsredovisning för räkenskapsåret 2020-07-01-2021-06-30, som nu finns tillgänglig på Bolagets hemsida www.meltron.com och investor.meltron.com tillsammans med revisionsberättelsen. Bokslutskommunikén publicerades 2021-08-30.


Meltron publishes Annual Report 2020-21

Meltron AB (publ) today publishes its Annual Report for the financial year 2020-07-01-2021-06-30, 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 2021-08-30.


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