SolTech Energy Sweden AB (publ.) publishes prospectus, new day of record and new subscription period, with reference to its previously announced new ”unit” stock issue with preferential rights

Subscription period 5 – 24 Oktober, 2016

The governing board of SolTech Energy AB (publ.) announces a new subscription period and a new day of record with regard to the coming new unit stock issue with preferential rights for the Company’s shareholders who were informed on 6 September 2016. The new subscription  (excluding possible later utilization of the opening Unit warrants), assuming a fully subscribed offer, will provide the Company with approximately 52.6 MSEK (5.5 MEUR).  The new stock issue is approximately 80 percent, or 42.6 MSEK (4.5 MEUR) guaranteed by a consortium of investors, along with subscription commitments from more substantial shareholders, without, however, requested or obtained security from the banking sector. In the event of strong interest, the board of governors is authorized to decide the matter of issuing an additional allocation of up to a maximum of 2.5 MSEK (0.26 MEUR). In addition, the board has the right to extend the subscription period.  G&W Fondkommission (Security brokers) is advisor to the Company in connection with the new stock issue.

The prospectus has been approved by Sweden’s Financial Supervisory Authority and is available for downloading via: www.soltechenergy.com, www.aktieinvest.se and www.gwkapital.se.

New capital stock issue terms:

  • The new stock issue will extend to a maximum of 4,045,902 units, with each and every unit consisting of one (1) new share and one (1) cost-free warrant.
  • Thirteen existing shares entitle the holder to subscribe to two (2) units. Shareholders in SolTech Energy AB (publ.) obtain one (1) Unit right for every one (1) existing share. Thirteen Unit rights are required in order to subscribe to (2) units.
  • The issue price is 13.0 SEK per Unit.
  • Two warrants give the holder the right to subscribe a new share for 30 SEK under the period spanning 2 – 31 October 2017.

Time plan for the new capital stock issue:

  • The prospectus is published on 28 September 2016
  • The last day for trading shares including subscription rights is 28 September 2016
  • The first day for trading shares without subscription rights is 29 September 2016.
  • The day of record is 30 September 2016.
  • Subscription of Units with and without subscription rights will take place during the period 5 – 24 October 2016.
  • Trading with BTU (Paid Subscription Units) will take place beginning 5 October, and continue until the date the new stock issue is registered with the Swedish Companies Registration Office (Bolagsverket), which is estimated to occur on or about 15 November 2016.
  • Trading with Unit rights will take place during the period 5 – 20 October 2016.

For more information, please contact:Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. Email: frederic.telander@soltechenergy.com

SolTech Enery in brief
SolTech Energy develops and sells a solar energy system based on research carried out over several years at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology). The system is a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or glass plates) that function as both weather protection and sun-catchers for the production of heat, hot water and electricity. The assortment of suitable glass also includes unique thin-film solar cells in black and/or semi-transparent glass – or as isolated glass modules in various sizes and formats that promote integration with a building’s outer shell.

SolTech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. Included in the concern are its jointly owned (51%) subsidiaries Advanced SolTech Sweden AB (publ.) ASAB, and Advanced SolTech Renewable Energy, Hangzhou Inc. (ASRE), as well as its wholly owned Wasa Rör T Mickelsson AB. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com

 

Investment in China
SolTech’s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech is the majority (51%) owner and Advanced Solar Power Hangzhou Inc. the minority (49%) owner. The business model consists of having said jointly owned company, ASRE, responsible for the installation, ownership, and periodic maintenance of solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and/or thermal heat the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, in combination with various forms of subsidies per produced kWh. The strategy is to build a backlog of orders for 2016 and beyond, with the goal of obtaining by the year 2019 an installed capacity of approximately 230 MW in full operation, generating current annual sales amounting to approximately 400 MSEK..

 

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