Opcon has raised more than SEK 120 million in a directed share issue

NOT TO BE PUBLISHED OR DISTRIBUTED IN THE US, CANADA, AUSTRALIA, HONG KONG OR JAPAN

Opcon Aktiebolag (publ) (“Opcon”) has raised SEK 122.5 million, before issuing costs, in a directed share issue comprising 2.5 million shares. Based on shareholder’s authorization, the company’s Board of Directors has conducted a directed share issue comprising a total of 2 500 000 shares. The subscription price was set at SEK 49 per share. The share issue was carried out after the NASDAQ OMX Nordic Exchange closed on October 14th 2009 and was directed to a limited group of institutional and other major investors. In order to facilitate the deal, Opcon’s principal owner, Mats Gabrielsson (BOIAB), is lending 2 500 000 shares to Banque Invik that will be forwarded to the subscribing investors and institutions as freely tradeable shares, pending registration of the share issue by the Swedish Companies Registration Office. After the share issue is registered, the total number of issued shares in Opcon Aktiebolag (publ) will be 24 532 023. Background and rationale Opcon has focused its business in recent years on energy and environmental technology, building a strong platform for growth based primarily on the recovery of low-temperature waste heat and applications within bio energy. Opcon’s world leading technologies are being deployed into power industries and large industrial companies improving their energy efficiency and profitability. With the strongly growing order book and larger projects the Board considers that Opcon should extend its capital base. The reason is the increased interest in Opcon’s technology for utilizing waste heat in either electricity generation based on Opcon Powerbox and for energy efficiency within bio energy. The aim is to maintain and increase the high growth especially in the Renewable Energy business area while accelerating the industrialization and internationalization of the Opcon Powerbox technology in order to meet a growing global demand. In 2008-2009 Opcon has built up a manufacturing and distribution structure suitable for a sales turnover of around SEK 1 billion. The share issue will shorten the time period until this target is met. The raised capital will also assist in financing Opcon’s acquisition strategy. Over the past few years the company has completed several acquisitions and still sees further opportunities for acquisitions in the current market climate. “In recent years we have managed to combine strong growth with a growing order book despite the market situation and we see great opportunities going forward. With this share issue we will have the financial strength to continue our strong growth and improve profitability. At the same time it gives us the muscle to take advantage of the present market conditions in our acquisition strategy,” says Rolf Hasselström, President and CEO of Opcon. “There has been a large demand for this issue in the market and we could not fit all of it within our decision,” says Rolf Hasselström, President and CEO of Opcon. Banque Invik S.A filial has served as lead manager and Ardour Capital Investments, LLC, New York, as joint manager in the transaction. Nacka, Stockholm October 15th 2009 Opcon Aktiebolag (publ)

Subscribe

Documents & Links