The subscription period in the rights issue begins today
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN CLEAN INDUSTRY SOLUTIONS HOLDING EUROPE AB (PUBL). SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
Today, on 12 September 2023, the subscription period begins in Clean Industry Solutions Holding AB’s (publ) (“Clean Industry Solutions” or the “Company”) rights issue of shares (the “Rights Issue”). The Rights Issue was resolved by the Board of Directors on 31 August 2023, with the support of the authorization from the Extraordinary General Meeting held on 8 August 2023. The subscription period runs until and including 26 September 2023.
The Prospectus, containing complete terms and conditions, is available on the Company's and Nordic Issuing AB's respective websites (https://cleanindustrysolutions.com/en/investor-relations/rights-issue-2023/ and https://nordic-issuing.se).
Information about subscription in the Rights Issue is available on the Company's and Nordic Issuing's websites.
Preliminary schedule for the Rights Issue
• 12 - 21 September 2023 – Trading in subscription rights
• 12 - 26 September 2023 – Subscription period for the Rights Issue
• 12 September 2023 - Until the Rights Issue is registered with the Swedish Companies Registration Office – Trade in paid-up subscribed shares (BTA)
• September 28, 2023 – Estimated date for publication of the outcome
Terms and conditions for the Rights Issue
• The Rights Issue comprises a maximum of 63,744,405 new shares in the Company.
• Two (2) subscription rights entitle the holder to subscribe for five (5) shares.
• The subscription price in the Rights Issue amounts to SEK 0.4 per share.
• The Rights Issue corresponds to a valuation of Clean Industry Solutions (pre-money) of approximately SEK 10.2 million.
• The Company has received underwriting commitments of approximately SEK 14.0 million, corresponding to approximately 55 percent of the Rights Issue. The underwriting commitments are not secured by bank guarantees, escrow funds, pledges or similar arrangements, which entails a risk that one or more of the underwriters will not be able to fulfill their commitments.
• Upon full subscription of shares in the Rights Issue, the Company will receive approximately SEK 25.5 million before deduction of issue costs.
Advisers
Corpura Fondkommission AB (www.corpura.se) is acting as financial advisor and Advokatfirman Schjødt is acting as legal advisor to Clean Industry Solutions in connection with the Rights Issue. Nordic Issuing AB is acting as issuing agent.
Amudova AB is Clean Industry Solutions’ certified adviser. Phone +46 8 546 017 58
E-mail: info@amudova.se
For more information:
Christian Zahler, CEO
Tel: +49 151 53811944
E-mail: christian.zahler@cleanindustrysolutions.com
The information was submitted for publication on 12 September 2023.
Clean Industry Solutions Holding Europe AB (publ) (Nasdaq First North Growth Market: CISH) invests in innovative companies that provide solutions for sustainable industries and a circular economy. The two current subsidiaries, Industrial Solar GmbH and SolarSpring GmbH, provide solutions to deliver clean energy and water to industry. Clean Industry Solutions owns all shares in Industrial Solar and SolarSpring respectively.
Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Clean Industry Solutions in any jurisdiction, either from Clean Industry Solutions or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Nasdaq First North Growth Market Rulebook.