SinterCast Pre-emptive Rights Issue Successfully Completed
[Stockholm, 18 September 2009] - SinterCast has successfully
completed a pre-emptive rights issue of shares and warrants
(collectively referred to as 'Units'), resulting in a cash injection
of SEK 23.1 million, prior to transaction costs. The participation
in the rights issue was very strong, with 863,293 Units being
subscribed to via the exercise of unit rights, corresponding to 93.3%
of the total number of Units available. An additional 741,464 Units
were subscribed for without pre-emptive rights, corresponding to
80.1% of the total number of Units. Accordingly, a total of 173.4%
of the total number of Units were subscribed to during the rights
issue subscription period that ended on 14 September 2009.
The fully subscribed rights issue initially increases the number of
shares by 925,483, resulting in a new total number of SinterCast
shares of 6,478,383 - an increase of 16.7%. Likewise, the share
capital has increased by SEK 925,483 to a total of SEK 6,478,383. In
the event that the associated warrants are exercised, during the
period 1-30 September 2010 at a price of SEK 25 per warrant, the
number of shares will increase by a further 462,741 shares and the
share capital will likewise increase by SEK 462,741. Full exercise
of the warrants in September 2010 will result in an additional cash
injection of SEK 11.6 million, prior to transaction costs. Every two
warrants entitle the holder to subscribe to one share.
Individuals who have subscribed to Units without pre-emptive rights
will be allocated Units in accordance with the principles defined in
the Prospectus. Contract notes to the individuals who have
subscribed to Units without pre-emptive rights are expected to be
issued on approximately 18 September 2009. Only those individuals who
receive an allocation of Units will be informed.
As soon as the increase in share capital has been registered by the
Swedish Companies Registration Office, the paid subscribed Units in
the rights issue will be converted to shares and warrants. The new
shares are estimated to be accessible on accounts and subject to
trading on NASDAQ OMX Stockholm on 9 October 2009. Trading in
warrants is estimated to commence in the middle of October 2009.
Financial Advisor
Remium AB has served as financial adviser to SinterCast in
conjunction with the pre-emptive rights issue.
For and on behalf of the Board of Directors,
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Tel: +46 8 660 7750
e-mail: steve.dawson@sintercast.com
SinterCast is the world's leading supplier of process control
technology for the reliable high volume production of Compacted
Graphite Iron (CGI). With at least 75% higher tensile strength, 45%
higher stiffness and approximately double the fatigue strength of
conventional grey cast iron and aluminium, CGI allows engine
designers to improve performance, fuel economy and durability while
reducing engine weight, noise and emissions. SinterCast produces a
variety of CGI components ranging from 2 kg to 17 tonnes, all using
the same process control technology. The end-users of SinterCast-CGI
components include Aston Martin, Audi, Caterpillar, Chrysler, DAF
Trucks, Ford, Ford-Otosan, General Electric Transportation Systems,
General Motors, Hyundai, Navistar, Jaguar, Kia, Land Rover, MAN,
Porsche, PSA Peugeot-Citroën, Renault, Rolls-Royce Power Engineering,
Toyota, Volkswagen, Volvo and Waukesha Engine. The SinterCast share
is quoted on the Small Cap segment of the Nordic Exchange OMX,
Stockholm (Stockholmsbörsen: SINT).
END