Project 'Atlas': outsourcing of larger projects to RoodMicrotec
(Thomson Reuters ONE) -
Zwolle, 25 September 2013
* RoodMicrotec has secured a major multi-year contract from an OEM
* OEM increasingly focusing on core activities
* Extensive cost savings by OEMs
* Due to attention and support from EU new opportunities for semiconductor
industry in Europe
RoodMicrotec has won a multi-year contract from a major OEM (Original Equipment
Manufacturer) for its chip supply chain. With this contract, the OEM has
explicitly ruled out the Asia route. In addition, RoodMicrotec N.V. expects
shortly to conclude negotiations on a new outsourcing project of another, also
large, OEM. For this project, RoodMicrotec N.V. will also take over production
equipment from the OEM.
Such projects have a duration of several years. Moreover, the outsourcing
activities of OEMs are expected to increase further in the future, because these
companies are focusing more and more on their core activities, partly in view of
cost savings. Due to attention and support from the EU new opportunities are
emerging for the semiconductor industry in Europe, including RoodMicrotec N.V.
Strategic consideration
RoodMicrotec's strategy is mainly aimed at growth of supply chain activities,
which include the services test engineering, failure & technology analysis,
qualification & reliability and logistics. Taking over the abovementioned non-
core activities from OEMs in the 'Atlas' project, possibly including production
equipment, fits nicely with this strategy. RoodMicrotec is one of the best
positioned companies in this area in Europe.
'We are delighted with these contracts. Not only do they give new momentum to
our sales, they will also put our supply chain activities on a firm footing.
Also, we expect that the recent attention and support from the EU for the
European semiconductor market will create new growth opportunities. The pieces
of the puzzle appear finally to be falling into place for us,' Philip Nijenhuis,
CEO of RoodMicrotec commented.
Financing
These projects require some initial investments, as well as additional working
capital. Based on current estimates, a limited capital increase by means of an
issue of new shares in the capital of RoodMicrotec N.V. will be desirable. For
this purpose on 25 September 2013 an agreement was signed with an investor to
issue - if RoodMicrotec deems it necessary - shares in monthly tranches of EUR
100,000 with a maximum of EUR 500,000. RoodMicrotec has the option of extending
this agreement twice over the next five years, raising the total amount to EUR
1.5 million.
The issue described above does not exceed the margins approved by the
shareholders' meeting of 25 April of this year. In view of the character of the
issue, a prospectus need not be published.
The share issue will be effected at a price based on the average of the lowest
five share prices in the month preceding the issue, taking account of a 3%
discount per tranche.
This agreement will run until 25 April 2018, which is the period for which the
shareholders' meeting on 25 April 2013 authorized the board of management of the
company. The right to make use of this agreement is entirely RoodMicrotec's.
Attention for current shareholders and holders of option rights
In addition to this issue of ordinary shares, RoodMicrotec intends to allocate
to its existing shareholders and option holders as of 30 September 2013, 5:40
pm, one (1) warrant per twelve RoodMicrotec shares/option rights. The aforesaid
investor will have equal warrant rights as of 30 September 2013 per possible
tranche as the other shareholders and option holders. Further arrangements
concerning the allocation of warrants and their exercise are set out in the
warrant arrangement which is expected to be placed on RoodMicrotec's website
(www.roodmicrotec.com) as of 15 October 2013, but no later than the day on which
the warrants are included in the listing.
Warrant arrangement
The warrant exercise price is EUR 0.15 and this arrangement can be exercised
until 1 October 2016. A quotation application will be made to NYSE Euronext
Amsterdam, and the warrants are expected to be quoted as of the second half of
October 2013. Further details of the warrant arrangement will also be placed on
the abovementioned website.
About RoodMicrotec
With 40 years' experience as an independent value-added service provider in the
area of micro and optoelectronics, RoodMicrotec offers fabless companies, OEMs
and other companies a one-stop shopping proposition. With its powerful solutions
RoodMicrotec has built up a strong position in Europe.
Our services comply with the industrial and quality requirements of the high
reliability/space, automotive, telecommunications, medical, IT and electronics
sectors.
Certified by RoodMicrotec concerns inter alia certification of products to the
stringent ISO/TS 16949 standard that applies to suppliers to the automotive
industry. The company also has an accredited laboratory for test activities and
calibration to the ISO/IEC 17025 standard.
The value-added services comprise inter alia extended supply chain management,
failure & technology analysis, qualification & burn-in, test- & product
engineering, production test (including device programming and end-of-line
service), ESD/ESDFOS assessment & training, quality & reliability consulting,
supply chain management and total manufacturing solutions with partners.
RoodMicrotec has branches in Germany (Dresden, Nördlingen, Stuttgart), the UK
(Bath) and the Netherlands (Zwolle).
Further information:
Philip Nijenhuis, CEO
Telephone +31 (0) 38 4215216
Email: investor-relations(at)roodmicrotec.com
Website: www.roodmicrotec.com
Outsourcing to RoodMicrotec - Project "Atlas":
http://hugin.info/130789/R/1731451/578881.pdf
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originality of the information contained therein.
Source: RoodMicrotec N.V. via Thomson Reuters ONE
[HUG#1731451]
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Datum: 25.09.2013 - 20:20 Uhr
Sprache: Deutsch
News-ID 300353
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Town:
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