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As it is known, solar energy company Meyer Burger wants to obtain new funds of approximately 200 million francs through capital increase to finance its planned expansion in the USA. Now the company has released the details.
Accordingly, Meyer Burger plans to issue up to 20,144,423,886 new shares at a subscription price of 0.01 francs per share. The subscription rate for existing shareholders was set at 28 new shares for every 5 existing shares. Subscription rights can be bought and sold between March 20-26, and the final amount of the transaction will be announced on April 3.
Largest shareholder Sentis Capital and largest client DE Shaw Renewable Investments (DESRI) will also participate in the rights issue, according to a statement on Monday. The two companies entered into purchasing obligations totaling up to 67.5 million francs; Sentis alone accounts for up to 50 million of this. Board members and senior managers (0.37 percent share) also participate in the capital increase.
An extraordinary general assembly meeting is being held today
Meyer Burger needs the money from the capital increase to invest in manufacturing in the United States. As announced in February, the company is building facilities in the US states of Colorado and Arizona and is relying on generous subsidies. In response, Meyer Burger decided to stop production in Freiberg for Germany for now.
An extraordinary general assembly meeting will be held in Thun today at 14:00 and the shareholders will approve the capital increase. The prospectus regarding the rights issue will be published on March 19 (tomorrow). (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
