Rights Issue December 2019

The Board of Directors of Minesto AB ("Minesto" or "the Company") has decided to carry out a rights issue of up to 6,084,133 units at a subscription price of SEK 14.12 per unit (the “Rights Issue "), based on the authorization given by the annual general meeting on June 4, 2019. 

The Rights Issue is carried out in order to give the existing shareholders of the Company the opportunity to subscribe for new shares in the Company under the same conditions as in the private placement of units of approximately SEK 60 million (the "Directed Issue") that Minesto completed in October 2019.

The Directed Issue and the Rights Issue enable Minesto to accelerate the commercialization of the Company's technology, at the same time as resolved publicly funded projects can be realized. Further, it provides Minesto with financial resources for the foreseeable future in order to facilitate the expansion to the first large-scale commercial farms.


 

The Rights Issue in short

  • One (1) share entitles the holder one (1) subscription right, and sixteen (16) subscription rights entitle subscription to one (1) unit.
  • One (1) unit contains one (1) share and one (1) warrant.
  • The subscription price is SEK 14.12 per unit.
  • The subscription rights which will be assigned to Midroc New Technology AB will be discarded in accordance with the principle communicated in connection with the Directed Issue. This results in total proceeds of approximately SEK 86 million before transactions costs, provided that the Rights Issue is fully subscribed.
  • The subscription period runs from 4 December 2019 until 18 December 2019.
  • The record date for the detachment of the subscription rights in the Rights Issue was 2 December 2019.
  • The subscription period for the warrant included in the unit will expire on 30 April 2021. Each warrant gives the holder the right to subscribe for one (1) new share in the Company. For information on the subscription price for the warrant, see “Terms for TO3 Warrants” below.
  • The prospectus for the Rights Issue was published on 2 December 2019.
  • Minesto's largest shareholder, BGA Invest AB, has committed to subscribe for units to a total value of SEK 20 million in the Rights Issue, corresponding to approximately 23 percent of the total number of units in the Rights Issue.


 

Instructions for subscription of units in the Rights Issue

Subscription with subscription rights

For shareholders whose shares are nominee registered, subscription and payment for units shall take place to, and in accordance with instructions from, the appropriate nominee.

Shareholders or representatives of shareholders whose shares were directly registered on the record day will receive a pre-printed issue statement with attached payment form.

Subscription without subscription rights

Application for subscription of units without pre-emptive right is made by sending in an application form or electronically with Swedish Bank ID. Application form and electronic subscription is available on the website of the issuing institution Aktieinvest: https://www.aktieinvest.se/minesto2019.

Avanza customers can apply for subscription without pre-emptive right directly through Avanza's website: https://www.avanza.se/kampanjer/minesto.html.

Time table of the Rights Issue (dates refer to 2019 if not mentioned otherwise)

28 November: Last day of trading in the Minesto share with the right to participate in the Rights Issue

2 December: Record date. Shareholders who are registered in the share register on this day will receive subscription rights for participation in the Rights Issue

2 December: Date for publication of the prospectus

4 – 16 December: Trading in subscription rights

4 – 18 December: Subscription period

4 December  – 10 January 2020: Trading in paid subscribed shares (Sw. betald tecknad aktie, BTA)

On or about 20 December: Announcement of the outcome of the Rights Issue

Advisors

Pareto Securities AB is Global Coordinator & Sole Bookrunner and MAQS Advokatbyrå is the legal advisor in connection with the Rights Issue.