The rights issue of convertible bonds in Arise has been completed
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, CANADA, JAPAN, HONG KONG, SINGAPORE, SOUTH AFRICA, NEW ZEALAND, AUSTRALIA OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE.
The final result in the rights issue of convertible bonds in Arise AB (publ) (“Arise” or “the Company”), for which the subscription period ended on 16 March 2017, shows that 8,004,697 convertible bonds, corresponding to approximately 72.0 per cent of the convertible bonds offered, were subscribed for by the exercise of subscription rights. In addition, 1,729,630 convertible bonds, corresponding to approximately 15.5 per cent of the convertible bonds offered have been subscribed for without subscription rights. The remaining 1,390,298 convertible bonds, corresponding to approximately 12.5 per cent were allotted to the guarantors in relation to their total undertaking, in accordance with the underwriting agreements entered into with the Company. Through the rights issue of convertible bonds, the Company receives proceeds amounting to approximately MSEK 245 before transaction related costs.
If the convertible bonds are fully converted into shares, and given that all convertible bonds are converted during the last day for conversion, the share capital will increase with SEK 889,970.00 through the issuance of 11,124,625 shares.
Allotment of convertible bonds that were subscribed for without subscription rights has been made in accordance with the principles outlined in the prospectus, which was published on 22 February 2017. Notification regarding the allotment of convertible bonds that have been subscribed for without subscription rights will be sent to those who have been allotted convertible bonds on or about 21 March 2017. Notification regarding the allotment of convertible bonds will only be distributed to those who have been allotted convertible bonds.
Convertible bonds subscribed for with subscription rights are expected to be registered by the Swedish Companies Registration Office (Sw. Bolagsverket) on or about 23 March 2017. Convertible bonds subscribed for without subscription rights are expected to be registered by the Swedish Companies Registration Office on or about 29 March 2017. The last day of trading in the interim convertible bonds (“BTU”) is expected to be on 27 March 2017. Trading of the convertible bonds is expected to begin on Nasdaq Stockholm on or about 31 March 2017.
Advisors
Setterwalls Advokatbyrå is acting as legal advisor and Swedbank AB (publ) is financial advisor to Arise in connection with the convertible bond issue.
For further information, please contact:
Daniel Johansson, CEO of Arise, +46 (0)702 24 41 33.
This information is information that Arise AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on 21 March 2017.
About Arise
Arise is one of Sweden´s leading wind power companies, with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)35 20 20 900, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se
Important information
This announcement is not and does not form a part of any offer for sale of securities.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Japan, Hong Kong, Singapore, South Africa, New Zealand, Australia or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
Any offering of securities referred to in this announcement will only be made by means of the prospectus announced herewith. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”). Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
In any EEA Member State other than Sweden that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.
This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Matters discussed in this announcement may constitute forward-looking statements. Such statements are statements that are not historical facts and may be identified by words such as “regard”, “estimate”, “expect”, “anticipate”, “assume”, “predict”, “intend”, “may”, "continue", “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.
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