News Article
Shares to shore up future
Obducat proposes SEK 74 million new share issue in order to secure continued commercialisation
OBDUCAT AB, world-leading supplier of lithography solutions based on NanoImprint Lithography and Electron Beam Lithography, proposes a new issue of shares and warrants to yield approximately SEK 74 million before issue expenses. The purpose of the issue is to strengthen Obducat's opportunities for the successful commercialisation of its product portfolio to continue.
The proceeds of the offering, which is proposed to be implemented as an issue of Units with preferential rights for the shareholders and holders of Obducat convertibles 2008/2011, will be used to evolve business developments in the focused application areas of HDD and displays, and, with the aim of addressing the coming global energy change, to pursue further commercial opportunities in the areas of LED and solar cells.
Providing further capital enables Obducat to meet various customers' demands for sustainability and readiness, which is of particular importance in the present financial crisis. By this Obducat also expects to continue maintaining its market-leading position.
2008 saw a number of commercial breakthroughs for Obducat in the foused application areas of LED, HDD and displays. With more than doubled sales and order intake in 2008, the industrialisation of Obducat's NIL technology has received a strong impetus. Components produced by the use of Obducat's technology now form part of an array of electronic products available in the current market.
With an installation base nearing 100 NIL systems and a number of customers in the process of commercial manufacturing as well as a robust patent portfolio, Obducat considers itself to be in an excellent position with the continued commercialisation at hand.
Both current and potential industrial customers' development plans demonstrate the need for an expanded production capacity in the next few years. Time and scope of the commercialisation is, in the short term, primarily impacted by the financing abilities of the customers. In the longer term, the basic driving forces that create a demand for Obducat's products are considered to be unaffected by the current financial crisis.
Obducat will continue to give priority to customers in the focused application areas and the scheduled capital contribution will be used in the task of securing further industrial orders.
The proposed issue will be presented to the Annual General Meeting on 18 June 2009 in accordance with a separate notice issued today. As will be seen in the notice, the issue is proposed to be implemented with preferential rights for shareholders and holders of Obducat's convertibles 2008/2011. It is proposed that shareholders and holders of convertibles be entitled to subscribe for Units consisting of shares and warrants. It is proposed that the Board of Directors be authorised to determine, at the latest the day of the Annual General Meeting, the issue price and certain other conditions pertaining to the issue.
The Board's aspiration is that the proposed issue be guaranteed. Obducat's costs for guarantee provisions can be reduced to a minimum by making an agreement with one or several guarantors to the effect that such commission shall, wholly or partially, be payable in the form of shares and/or warrants. The Board therefore proposes that the AGM resolves to authorise the issue for this purpose according to further details in the notice to attend the AGM.
The proceeds of the offering, which is proposed to be implemented as an issue of Units with preferential rights for the shareholders and holders of Obducat convertibles 2008/2011, will be used to evolve business developments in the focused application areas of HDD and displays, and, with the aim of addressing the coming global energy change, to pursue further commercial opportunities in the areas of LED and solar cells.
Providing further capital enables Obducat to meet various customers' demands for sustainability and readiness, which is of particular importance in the present financial crisis. By this Obducat also expects to continue maintaining its market-leading position.
2008 saw a number of commercial breakthroughs for Obducat in the foused application areas of LED, HDD and displays. With more than doubled sales and order intake in 2008, the industrialisation of Obducat's NIL technology has received a strong impetus. Components produced by the use of Obducat's technology now form part of an array of electronic products available in the current market.
With an installation base nearing 100 NIL systems and a number of customers in the process of commercial manufacturing as well as a robust patent portfolio, Obducat considers itself to be in an excellent position with the continued commercialisation at hand.
Both current and potential industrial customers' development plans demonstrate the need for an expanded production capacity in the next few years. Time and scope of the commercialisation is, in the short term, primarily impacted by the financing abilities of the customers. In the longer term, the basic driving forces that create a demand for Obducat's products are considered to be unaffected by the current financial crisis.
Obducat will continue to give priority to customers in the focused application areas and the scheduled capital contribution will be used in the task of securing further industrial orders.
The proposed issue will be presented to the Annual General Meeting on 18 June 2009 in accordance with a separate notice issued today. As will be seen in the notice, the issue is proposed to be implemented with preferential rights for shareholders and holders of Obducat's convertibles 2008/2011. It is proposed that shareholders and holders of convertibles be entitled to subscribe for Units consisting of shares and warrants. It is proposed that the Board of Directors be authorised to determine, at the latest the day of the Annual General Meeting, the issue price and certain other conditions pertaining to the issue.
The Board's aspiration is that the proposed issue be guaranteed. Obducat's costs for guarantee provisions can be reduced to a minimum by making an agreement with one or several guarantors to the effect that such commission shall, wholly or partially, be payable in the form of shares and/or warrants. The Board therefore proposes that the AGM resolves to authorise the issue for this purpose according to further details in the notice to attend the AGM.
