Media Release

Thun, 14 July 2020

 

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

 

 

Meyer Burger Technology Ltd: Beginning of trading of subscription rights and subscription period

 

 

Meyer Burger Technology Ltd (SIX: MBTN) today publishes the issue and listing prospectus for the planned ordinary capital increase with targeted gross proceeds of CHF 165 million. Furthermore, trading in subscription rights on SIX Swiss Exchange and the subscription period for the new shares starts today.

 

 

The Extraordinary General Meeting on 10 July 2020 approved an ordinary capital increase with planned gross proceeds of CHF 165 million with 81.4 percent. A condition for the implementation of the capital increase is that gross proceeds of at least CHF 150 million are raised. The subscription period for the new shares begins today, 14 July 2020 and will end on 22 July 2020 at 12:00 noon CEST. Trading of the subscription rights on SIX Swiss Exchange will also start today and will end on 20 July 2020. The listing and first trading day of the new registered shares on SIX Swiss Exchange are expected to become effective on 29 July 2020.

 

From machine supplier to a technologically leading manufacturer of solar cells and modules

As announced on 19 June 2020 (see press release), the proceeds from the ordinary capital increase shall be used to finance the establishment of production capacities for technologically leading solar cells and solar modules in Germany. With the transformation of the business model from a machine supplier to a manufacturer of solar cells and modules, the company plans to significantly expand its value chain in order to become sustainably profitable. Meyer Burger aims to benefit in the long term from the technological and cost leadership of its proprietary and patent-protected heterojunction/smartwire technology (SWCT). The business with standard equipment and the service business will continue unchanged.

 

Exemptions and easing provisions from disclosure obligations

In connection with the planned capital increase, the Disclosure Office of SIX Exchange Regulation has granted certain exemptions and easing from the reporting obligation pursuant to Art. 120 FinfraG. At the request of the Company and the Joint Bookrunners, the Disclosure Office has issued the following recommendation (Empfehlung) on 9 July 2020: Investors whose participation reaches or exceeds the thresholds of Art. 120 para. 1 FinfraG (based on the voting rights of the Company entered in the Commercial Register prior to the registration of the capital increase) by concluding PIPE and backstop commitments, acquiring subscription rights or subscribing for shares in connection with the capital increase, do not have to file disclosure notifications until the capital increase is registered in the Commercial Register. The corresponding sale positions of the Company with regard to PIPE and Backstop commitments also do not have to be disclosed until the capital increase is registered in the Commercial Register. The exceptions are limited until 31 August 2020.

 

Planned timing of the capital increase and rights issue

 

Date:

 

14 July 2020

Publication of issue and listing prospectus

Start of subscription rights trading on SIX Swiss Exchange

Start of subscription period

20 July 2020

End of subscription rights trading on SIX Swiss Exchange

22 July 2020, 12:00 CEST

End of subscription period

28 July 2020

Capital increase

29 July 2020

First trading day of the new registered shares

Delivery of the new registered shares against payment of the subscription price

 

Contacts:

Nicole Borel

Head of Corporate Communications

Tel: +41 (0)33 221 28 34

nicole.borel@meyerburger.com

 

 

Dynamics Group AG

Andreas Durisch, Senior Partner

Tel +41 43 268 27 47 | Mob +41 79 358 87 32

adu@dynamicsgroup.ch