Opcon performs directed issue of 875,000 new shares at average price of SEK 15.73 per share
Opcon’s Board of Directors has decided to carry out a directed issue of 875,000 new shares. The decision is supported by authorisation from the Annual General Meeting and the equity-line financing facility signed earlier this year. The share issue will be directed to GEM Global Yield Fund Ltd.
Following the registration of the new share issue, the total number of outstanding shares in Opcon Aktiebolag (publ) will be 26,034,227.
During the second quarter of 2011 Opcon AB signed an agreement with GEM Investment Advisers, Inc. and GEM Global Yield Fund Ltd. regarding an equity-line financing facility of up to SEK 250 million over 36 months, with an advance payment of SEK 25 million. The agreement was signed to strengthen the company and secure access to capital over time, and gives Opcon the opportunity to successively raise capital in return for the right to subscribe for shares in a new share issue.
As part of the agreement, Opcon is now performing a directed share issue of new shares amounting to a total of 875,000 shares to GEM. The share price has been established as SEK 16.82 per share for 500,000 shares and SEK 14.28 per share for 375,000 shares. This means that the average price will be SEK 15.73 per share. The subscription price has been set at 90% of the average market price on a number of trading days in April and May in accordance with the agreement. The shares have been subscribed by and allotted to GEM Global Yield Fund Ltd.
The total proceeds of SEK 13,762,875 before costs will be settled against the advance payment made by GEM.
For further information, please contact:
Niklas Johansson, vice president, Investor Relations, tel. 0046 8-466 45 00, 0046 70-592 54 53
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. 08-466 45 00, fax 08-716 76 61
e-post: info@opcon.se
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy.
Opcon has activities in Sweden, China, Germany and the UK. There are around 400 employees. The company’s shares are listed on Nasdaq OMX Stockholm. The Group comprises two business areas:
Renewable Energy focuses on the following areas: electricity generation based on waste heat, bioenergy-powered heating and CHP plants, pellets plants, drying of biomass, handling systems for biomass, sludge and natural gas, industrial cooling, flue gas condensation, treatment of flue gases and air systems for fuel cells.
Engine Efficiency focuses on energy-efficient solenoid technology and ignition systems for combustion engines including ethanol, natural gas and biogas engines.
Opcon AB (publ) is obliged to disclose the information in this press release in accordance with the Swedish law governing the securities markets and/or trading in financial instruments.
The information was submitted for publication at 8.25 a.m. (CET) on Wednesday 24 August 2011.