OUTCOME OF THE TIME-LIMITED OPPORTUNITY TO CONVERT AT A LOWER CONVERSION RATE
At the Extraordinary Shareholders’ Meeting in Obducat AB (publ) on 7 April 2010, it was resolved to change the conditions for Obducat’s convertibles 2008/2011:A and B, meaning that for the conversion required during the period from 19 April 2010 to 30 April 2010 the conversion rate would be SEK 0.27.
At the close of the period, holders of convertibles with a total convertible claim on Obducat of SEK 43.517.322.09 had requested conversion at the lower conversion rate. This is equivalent to about 78 per cent of the total loan amount outstanding according to Obducat’s convertibles 2008/2011:A and B.
Obducat’s share capital will, through the conversion, increase by SEK 16.117.526.70, from SEK 53.235.987.00 to 69.353.513.70. The number of A shares will increase by 9.478.778, from 10.082.918 to 19.561.696, and the number of B shares will increase by 151.696.489, from 522.276.952 to 673.973.441.
Obducat’s CEO, Lars Tilly, says:”Thanks to so many having chosen to convert at the lower conversion rate Obducat’s financial position has been significantly strengthened and a potential liquidity problem has been eliminated. Obducat is now able to act more aggressively on the markets where our products are in demand while at the same time being in a better position to attract additional large industrial customers and collaboration partners. We have an exciting time before us.”
The Extraordinary Shareholders’ meeting on 7 April 2010 also resolved to change the conditions for Obducat’s warrants 2009/2011:A and B as well as 2009/2012:A and B, meaning that a stipulations was added regarding the recalculation of the subscription price and the number of shares that each warrant entitles the holder to subscribe for, with the purpose of compensating the holders of the warrants for the conversion to a lower conversion rate resulting from the above proposed change of conditions for convertibles. However, the average rate based on volume for the period 19-30 April 2010 was neutral against the conversion rate of SEK 0.27. Since the required conversions during this period consequently were made at a conversion rate equal to the market value, the new recalculation condition does not lead to any change in the subscription price of the warrants or in the number of shares that the holders of warrants are entitle to subscribe for.
This is information that Obducat AB is required to make in compliance with the Swedish Securities Market Act. The information was submitted for publication on 14 May 2010 at 9.30 am.
For further information, please contact:
Lars Tilly, CEO: +46 40 36 21 45 or +46 703 27 37 45
Henri Bergstrand, Chairman of the Board: +46 40 36 21 00 or +46 708 88 72 45
Obducat AB is an innovative developer and supplier of technologies, products and processes used for the production and replication of advanced micro and nano structures. Obducat’s products and services are intended to serve the demands of companies within the information storage, semiconductor, printed circuit board and sensor industries. Obducat’s technologies include electron beam and nano imprint technology. Obducat has offices in Sweden and the UK, with the headquarters located in Malmo, Sweden. The Obducat shares are publicly traded on the Swedish NGM stock exchange.