NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN
OR SOUTH AFRICA.
Täby, Sweden, April 9, 2010 - Micronic Laser Systems AB (publ.), listed on the
NASDAQ OMX Nordic Exchange Stockholm, in the category Small cap, Information
Technology: MICR
The Board of Directors in Micronic Laser Systems AB (publ.) decided on the
following terms for the rights issue:
* The issue price is SEK 7.50 per share.
* Each share held on the record date entitles to the receipt of one
subscription right. Every two subscription rights entitle to subscription of
one newly issued share.
* The share capital shall increase by no more than SEK 32,638,836 through issue
of no more than 32,638,836 shares.
The rights issue is subject to approval by the extraordinary shareholders'
meeting to be held on April 12, 2010. Upon full subscription, the issue will
provide the company with approximately SEK 244.8 million, prior to issue costs.
Background and rationale
Micronic and Intel Corporation have entered an agreement to develop laser based
lithography solutions. Micronic has also received a purchase order from Intel
Corporation for one LDI system. In order to secure financing for the
development of this new and dynamic market opportunity the Board of Directors
of Micronic has on March 25, 2010 decided to carry out a SEK 240 million rights
issue with preferential rights for existing shareholders. In accordance with
the Board of Directors' decision for a rights issue the Board of Directors has
decided on the maximum amount by which the share capital shall be increased,
the maximum number of shares to be issued, the subscription ratio and the issue
price per share.
Existing shareholders have committed to subscribe for shares, through the use
of subscription rights, corresponding to approximately 42 per cent of the
rights issue. Furthermore, should the rights issue not be fully committed,
Intel's global investment organization Intel Capital has undertaken to
subscribe for remaining shares, which have not been subscribed for, for an
amount of no more than SEK 80 million, subject to certain conditions including
a subscription level of at least SEK 160 million.
Terms of the rights issue
Shareholders will receive one subscription right for each share held on the
record date. Every one subscription rights entitle to the subscription of one
newly issued share. The share capital shall be increased by no more than SEK
32,638,836 and no more than 32,638,836 shares shall be issued.
The issue price is SEK 7.50 per share. Subscriptions may also be made without
subscription rights. The Board of Directors shall first and foremost allot
shares to those who have subscribed for shares by existing subscription rights
and, in case of oversubscription, in proportion to the number of sub-scription
rights used for subscription of shares; secondly to others who have applied for
subscription without subscription rights, in case they cannot receive full
allocation, in proportion to the number of shares that each subscriber has
applied to subscribe for; thirdly, to Intel Capital subject to certain
conditions.
The record date for participation in the rights issue is April 27, 2010. New
shares will be subscribed for during the period as from, and including, May 5,
2010 until, and including, May 21, 2010, or such later date as decided by the
Board of Directors.
The detailed terms of the rights issue will be set out in the prospectus to be
prepared and made public regarding the rights issue. The prospectus will be
made public on or around May 3, 2010 and will be made available on Micronic's
website and be sent out to the shareholders of Micronic.
Estimated timetable
April 12
Extraordinary General Meeting
April 23
First day of trading in the shares, excluding right to participate in the
rights issue
April 27
Record date for participation in the rights issue, i.e. shareholders registered
in the share register of Micronic as of this day will receive subscription
rights for participation in the rights issue
May 3
Prospectus made public
May 5-May 18
Trading in subscription rights
May 5-May 21
Subscription period
May 26
The result of the rights issue is made public
Company contacts:
Peter Uddfors
President & CEO
+46 8 638 52 00
peter.uddfors@micronic.se
Carl-Johan Blomberg
CFO
+46 8 638 52 00
carl-johan.blomberg@micronic.se
About Micronic Laser Systems AB
Micronic Laser Systems AB is a Swedish high-tech company engaged in the
development, manufacture and marketing of a series of extremely accurate laser
pattern generators for the production of photomasks and advanced surface
mounting technology (SMT) equipment for flexible production of electronics. The
laser pattern generators are used by the world's leading electronics companies
in the manufacture of television and computer displays, semiconductor circuits
and semiconductor packaging components. The SMT equipment, including software
applications, is used for stencil free jetting of solder paste and surface
mounting of electronic components. Micronic headquarters is located in Täby,
north of Stockholm and at present the Group has subsidiaries in the United
States, Japan, South Korea, Singapore, China, Taiwan, Germany, France, United
Kingdom and the Netherlands. For more information about laser pattern
generators, see our web sites www.micronic.se and SMT equipment, see
www.mydata.com
Disclaimers
This press release is not an offer for subscription for shares in Micronic.
A prospectus relating to the rights issue referred to in this press release and
the subsequent listing of the shares at NASDAQ OMX Stockholm will be prepared
and filed with the Swedish Financial Supervisory Authority. After approval and
registration of the prospectus by the Swedish Financial Supervisory Authority,
the prospectus will be published and made available on inter alia Micronic's
website.
The distribution of this press release in certain jurisdictions may be
restricted. This press release does not constitute an offer of, or an
invitation to purchase, any securities of Micronic in any jurisdiction.
This press release does not constitute or form part of an offer or solicitation
to purchase or subscribe for securities in the United States. The securities
referred to herein may not be sold in the United States absent registration or
an exemption from registration as provided under the US Securities Act of 1933,
as amended. Micronic does not intend to register any portion of the offering in
the United States or to conduct a public offering of any securities in the
United States.
This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net
worth entities, and other persons to whom it may lawfully be communicated,
falling within Article 49(2) of the Order (all such persons together being
referred to as “relevant persons”). Any investment activity to which this
communication relates will only be available to and will only be engaged with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
Copies of this announcement are not being made and may not be distributed into
the United States, Australia, Canada, Japan and South Africa.
