Successful rights issue of Meyer Burger Technology Ltd – 99.9% of subscription rights exercised

Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announces recently that 99.9% of the subscription rights have been exercised by the end of the rights exercise period on 15 December 2016, 12.00 noon CET. A total of 456,851,800 new registered shares had been offered. Existing shareholders were offered to subscribe for five new registered shares at an offer price of CHF 0.36 per registered share for each existing registered share held. The 593,870 newly issued registered shares for which subscription rights have not been exercised will be sold in the market. With completion of the capital increase, the company will receive gross proceeds in a minimum amount of CHF 164.5 million.

The first trading day of the new shares on SIX Swiss Exchange is expected to be on 20 December 2016. Delivery of the new shares against payment of the offer price is also expected to be on 20 December 2016. The share capital of Meyer Burger after completion of the rights offering will amount to CHF 27,411,108.00, divided into 548,222,160 registered shares with a nominal value of CHF 0.05 each. With the completion of the ordinary capital increase as per 20 December 2016, the recapitalisation programme can be successfully implemented. With respect to the amendments of the terms of the CHF 100 million convertible bond (due in 2020) which have already been approved by the convertible bondholders, the approval of the High Court of the Canton of Berne is still outstanding.