Subscription period for rights issue of 10 MSEK is 17th of June to 5th of July
THIS PRESS RELEASE MAY NOT BE ANNOUNCED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, USA OR IN ANY OTHER JURISDICTION WHERE NOT PUBLICATION, PUBLICATION OR DISTRIBUTION OF THE INFORMATION SHOULD BE COMPATIBLE WITH APPLICABLE REGULATIONS.
As previously communicated, Scandinavian Biogas Fuels International AB (publ) (“Scandinavian Biogas” or the “Company”) has investigated the possibility of carrying out a directed share issue of up to SEK 136 million to a number of institutional and private investors, in which certain shareholders would have the option of offsetting loans against shares, and, in connection with this directed share issue, intended to carry out a rights issue of up to SEK 10 million at the same subscription price as the directed share issue. Furthermore, it has been communicated that the Company has received subscription commitments regarding the directed share issue.
Moreover, the board of directors of the Company has, with the support of the authorization by the annual general meeting held on 25 June 2018, resolved on a rights issue of a maximum of 4,283,953 shares with pre-emption rights for the Company's shareholders (the “Rights Issue”). Upon full subscription of the Rights Issue, the Company will receive approximately SEK 10 million before issue costs.
Shareholders who, on the record date 13 June 2019, are included in the share register maintained by Euroclear Sweden AB, will receive one (1) subscription right for each share held. Twenty-five (25) subscription rights entitle to subscription for one (1) new share in the Company at a subscription price of SEK 2.40 per share. The Rights Issue can increase the Company’s share capital by a maximum of about SEK 856,791.
The subscription period in the Rights Issue runs from 17 June to 5 July 2019. Last day to hold shares in Scandinavian Biogas including the right to receive subscription rights is 11 June 2019 and the first day to hold shares in Scandinavian Biogas excluding the right to receive subscription rights is 12 June 2019.
The investment memorandum is available on the Company´s webpage – www.scandinavianbiogas.com
For further information, please contact:
Matti Vikkula, CEO
+46 70 597 99 38
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 production of raw biogas in South Korea and a plant for production of liquid biogas in Norway.
The information in this press release is such that Scandinavian Biogas Fuels International AB (publ) must disclose in accordance with the EU Market Abuse Regulation (EU MAR) No. 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, on 14 of June 2019, at 15:00 CEST.
Publishing, publishing or distributing this press release may, in certain jurisdictions, be subject to law and law enforcement in those jurisdictions where this press release has been published or distributed should inform and follow such legal restrictions.
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities issued by Scandinavian Biogas in any jurisdiction where such offer would be illegal, require prospectus, registration or other measures besides those required by Swedish law. The invitation to the persons concerned to subscribe for shares in the Rights Issue in Scandinavian Biogas will be carried out through the memorandum that the Company will publish in connection with the commencement of the subscription period.
This press release may not be released, published or distributed, directly or indirectly, in or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, South Korea, USA or in any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require prospectus, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in a manner that contravenes such restrictions or would entail such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws. No subscription rights, BTAs (interim shares), shares or other securities described in this press release have or will be registered under the United States Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in USA, other than pursuant to an exemption from, or in a transaction that is subject to, the registration requirements of the Securities Act and in accordance with applicable securities legislations in US states. The Company does not intend to register any offer in USA or to submit any public offering of securities in the USA.