2017-05-17 12:00

Scandinavian Biogas rights issue over-subscribed

Scandinavian Biogas Fuels International AB (publ) (the "Company") has completed a rights issue of shares which was decided upon, with support of authorization, by of the Board of Directors on 12 April 2017 (the “Rights Issue”). The Rights Issue was 100 per cent subscribed, corresponding to approximately SEK 23.4 million. Major shareholders who have given loans of SEK 16 million in total to the Company have requested, and the Board of directors has granted such request, to set-off their loans under the Rights Issue, corresponding to approximately 70 per cent of the Rights Issue.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, WHETHER DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH ACTION IS WHOLLY OR PARTIALLY SUBJECT TO LEGAL RESTRICTIONS.

85 per cent of the Rights Issue was subscribed for on the basis of subscription rights, and the remainder, 15 per cent, without subscription rights. Almost 7.1 million shares were subscribed for, which means an over-subscription of circa 1.1 million shares.

By completion of the Rights Issue, the number of shares in the Company increases with 6,006,177 shares to 107,098,839 shares and the Company’s share capital increases with approximately SEK 1,201,236 to approximately SEK 21,419,769.

Allocation of shares subscribed for without subscription rights under the Rights Issue has taken place according to the principles indicated in the investment memorandum dated 18 April 2017. Notice of allocation will be given in the form of a transaction note sent to each subscriber who has been allocated shares. Allocated shares must be settled by no later than the date indicated on the transaction note.

Together with the directed share issue, registered on April 25, 2017, the company will, with the Rights Issue, receive a gross amount of MSEK 66.3 in equity.

-          “We are very pleased with the outcome of the two share issues and consider it a good starting point for the planned listing of the share on a relevant marketplace. The funds will be used to strengthen the Group's liquidity and for remaining investments, particularly the facility in Södertörn. " says CEO Matti Vikkula

For more information, please contact:
Matti Vikkula
CEO Scandinavian Biogas
+46 70-597 99 38
matti.vikkula@scandinavianbiogas.com

The Company in brief:
Scandinavian Biogas is today one of the largest private producers of biogas as a vehicle fuel. The Company also operates a manufacturing plant for pre-treatment of food waste and industrial organic waste, as well as a plant for the production of raw biogas in South Korea.

Information:
This information is information that Scandinavian Biogas Fuels International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CET on 17 May 2017.

Disclaimer:
The Rights Issue is not directed to persons resident in the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where participation would require a prospectus, registration or other measures than those required by Swedish law.

This press release may consequently not be published or distributed, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland Singapore, South Africa or any other jurisdiction where such action wholly or partially violates applicable laws or regulations. The information in this press release may not be forwarded, reproduced or disclosed in ways that conflict with such laws or regulations. Failure to comply with this instruction may result in violation of the US Securities Act of 1933 or applicable laws in other jurisdictions.

Scandinavian Biogas issues subsequent SEK 30 million senior secured bonds

Scandinavian Biogas Fuels International AB has placed a subsequent issue of senior secured bonds in the amount of SEK 30 million under the company’s outstanding bond loan with ISIN SE0007784111 and within a total frame amount of SEK 300 million. Total outstanding amount after the subsequent bond issue will be SEK 230 million. The bonds will bear a floating rate coupon of 3 months Stibor + 9.75 per cent p.a. and were placed at 100.5 per cent of par. The bonds will be listed on the corporate bond list on Nasdaq Stockholm. Read more

Scandinavian Biogas rights issue over-subscribed

Scandinavian Biogas Fuels International AB (publ) (the "Company") has completed a rights issue of shares which was decided upon, with support of authorization, by of the Board of Directors on 12 April 2017 (the “Rights Issue”). The Rights Issue was 100 per cent subscribed, corresponding to approximately SEK 23.4 million. Major shareholders who have given loans of SEK 16 million in total to the Company have requested, and the Board of directors has granted such request, to set-off their loans under the Rights Issue, corresponding to approximately 70 per cent of the Rights Issue. Read more

Scandinavian Biogas Interim report for the period 1 January – 31 March 2017

The plant at Södertörn was granted a new environmental permit which entitles the facility to significantly increase waste volumes and biogas production. The evaporator has been commissioned, significantly reducing external water consumption. Read more

Scandinavian Biogas has decided on a directed share issue of approximately SEK 43 million and a rights issue of approximately SEK 23 million

The board of directors of Scandinavian Biogas Fuels International AB (publ) ("Scandinavian Biogas" or the "Company") has decided on a directed share issue of approximately SEK 43 million and a rights issue of approximately SEK 23 million (the "Rights Issue"). The Company has received subscription commitments corresponding to 97 per cent of the Rights Issue. The proceeds from the Rights Issue are intended to be used primarily to finance ongoing investments and to improve the Company's liquidity. Read more

SUMMONS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS IN SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB (PUBL)

The shareholders of Scandinavian Biogas Fuels International AB (publ), 556528-4733, are hereby summoned to the annual general meeting on Thursday the 11th of May 2017, at 09.00, Westmanska palatset, Holländargatan 17, Stockholm, Sweden. Read more

Scandinavian Biogas Year-end report for the period 1 January – 31 December 2016

During the fourth quarter, a formal foundation-laying ceremony was held at the construction project at Skogn, and biogas production results at the Södertörn plant were somewhat of an improvement on the updated plan. Read more

Scandinavian Biogas is preparing the group for a public listing of its share – signing loan agreements for 16 MSEK for the forthcoming share issue

The planned share issue is part of group´s strategic plan which is aiming for the listing of its share on a relevant marketplace earliest autumn 2017. Read more

Scandinavian Biogas Interim report for 1 January – 30 September 2016

Net sales continued to rise and third-quarter biogas production at Södertörn was on a par with the first and second quarters. Biogas production in September was the highest to date. Read more

Press Release

The Södertörn plant is not expected to achieve planned production volumes for the rest of 2016 Read more

International scientific biogas conference

Linköping 7-8 September 2016 Read more

Press Release

Interim Report Q2 2016 Read more

Interim Report - Q2 2016

1 January - June 30 2016 Read more

New European grant to

Scandinavian Biogas Fuels Read more

Press release

Interim report Q1 Read more

Interim Report - Q1 2016

1 January-31 March 2016 Read more

Summons to the Annual General Meeting

Thursday the 28th of April 2016, 13:30, Stockholm Read more

Unutilized residues

can increase biogas production with one terawatt hour Read more

Issues 4-year senior secured bond

Scandinavian Biogas Fuels International AB has successfully placed an issue of senior secured bonds in the amount of SEK 200 million. Read more

Invests in a new Liquid Biogas Plant

Scandinavian Biogas has signed a contract with Biokraft AS and TrønderEnergi to build a new production plant for Liquid Biogas. Read more

Summons to the annual general meeting of shareholders

Shareholders invited to the annual general meeting Read more

Macroalgae may be a new substrate in biogas production

EU-funded research is evaluating its potential Read more

Board of directors

Read more

Business objectives

Our concept, vision and mission statement. Read more

CONTACT

+46 (0)8 503 872 20 | info@scandinavianbiogas.com | Holländargatan 21A, 111 60 Stockholm