Precise Biometrics implements rights issue of SEK 50 million to
finance expansion
(Thomson Reuters ONE) - * New issue of shares of approximately SEK 50 million with preferential rights for Precise Biometrics' shareholders* The new issue of shares will be implemented to finance further expansion and increase market penetration in prioritized market segments* Following approval at the extraordinary general meeting on August 21, the subscription period will run from August 31 - September 14, 2009* The terms and conditions for the new issue of shares, including the subscription price and ratio basis, will be established and announced on August 20, 2009"The order recently received from the US authorities is furtherevidence of our successful offer. The new issue of shares is expectedto produce the financial flexibility required to take new orders of asimilar size and to focus on long-term and profitable transactions,and to further reinforce the position of the company in the market"says Thomas Marschall, President and CEO of Precise Biometrics AB.Background and rationaleOn July 8, 2009, Precise Biometrics reported the largest order in thehistory of the company. The value of the order amounts to USD 6.1million and refers to fingerprint readers and software for the USauthorities to be delivered in 2009. The US order will give PreciseBiometrics excellent prospects of achieving the target communicatedin 2006 for the company to become profitable in the fiscal year of2009.To continue to maintain a high rate of expansion and enable the nextstage in the development of the company, it is necessary to increasethe company's working capital; partly because there has been aradical decline in opportunities to obtain order financing from thebanks in the last nine months in the current financial climate, andpartly because suppliers are demanding shorter payment terms, whichis affecting the liquidity. The company also intends to increase itsmarketing efforts in prioritized market segments and in geographicmarkets by expanding its resources in marketing and sales. A strongfinancial position is also expected to result in a higher creditrating, which will further improve prospects of obtaining new ordersin line with the recently advised record US order. In this context,the board of directors has therefore decided to implement a new issueof shares to an amount of SEK 50 million.Terms and conditions for the new issue of sharesThe board of directors of Precise Biometrics decided on July 30,2009, conditional on approval at an extraordinary general meeting onAugust 21, to implement a rights issue with preferential right forexisting shareholders of approximately SEK 50 million. In the eventthat all shares are not subscribed for on basis of subscriptionrights, allocation of shares shall be made within the scope of themaximum amount of the share issue, at which the Board of Directorsshall allocate the shares primarily to those who have subscribed forshares on basis of subscription rights, pro rata in relation to theirsubscription on the basis of subscription rights and secondarily tothose who have declared their interest to subscribe for shareswithout subscription rights, pro rata in relation to their declaredinterest. The subscription period runs from August 31 - September14, 2009, following approval at an extraordinary meeting on August21, 2009. The board of directors will on August 20, 2009 establishand publish the subscription price for the new shares and the ratiobasis.Preliminary timetable for the rights issueThe subscription price and ratio basis will be determinedon August 20, 2009Extraordinary general meeting in PreciseBiometrics August 21, 2009Prospectus is publishedaround Aug 24, 2009Last day of trading in the share with right toparticipate in the newissue August24, 2009First day of trading in the share without right toparticipate in the newissueAugust 25, 2009Record day for participation in the new issue ofshares August 27, 2009Trading in subscription rights Aug 31- Sept 9, 2009Trading in paid subscribedshares August31, 2009 until the share issue is registered at theSwedish Companies Registration OfficeSubscription period for the new issue Aug 31 - Sept14,2009Otherwise refer to the notice of the extraordinary general meeting inPrecise Biometrics and the pending prospectus concerning the rightsissue.Financial advisorRemium AB is acting as financial adviser to Precise Biometrics inconjunction with the rights issue.For more information:Thomas Marschall, CEO, Precise Biometrics ABTel: +46 46 31 11 10 or +46 734 35 11 10E-mail thomas.marschall(at)precisebiometrics.comPatrik Norberg, CFO, Precise Biometrics ABTel. +46 (0)46 31 11 47 or +46 (0) 734 35 11 47E-mail patrik.norberg(at)precisebiometrics.comPrecise Biometrics is a market-leading provider of products andsolutions for fingerprint recognition. The technology proves people'sidentities in a fast and secure way, while it reduces costs relatedto password management, identity theft and fraud.Precise Biometrics serves business and government organizationsthroughout the world and its technology is licensed to close to 100million users. Precise Biometrics is listed on NASDAQ OMX Stockholmsmall cap list (PREC).For more information, please visit www.precisebiometrics.com or viewan information video at www.precisebiometrics.com/share-issue-videoImportant informationThe publication or distribution of this press release may in certainjurisdictions be subject to restriction by law, and persons in thejurisdictions where this press release has been published ordistributed should inform themselves of and follow such legalrestrictions.This press release may not be made public, published or distributed,either directly or indirectly in the United States, Canada, Japan,New Zealand, South Africa, Australia or any other country where suchprocedures are subject in full or in part to legal restrictions. Normay the information in this press release may not be communicated,reproduced or presented in any way that is in conflict with suchrestrictions. Failure to follow this instruction may involve a breachof the United States Securities Act from 1933 ("Securities Act") orapplicable laws in other jurisdictions.This press release does not contain or constitute an invitation oroffer to acquire, subscribe to or otherwise trade with shares,subscription rights or other securities in Precise Biometrics. Theinvitation to the persons concerned to subscribe to shares in PreciseBiometrics will only take place through the Prospectus that PreciseBiometrics intends to publish around August 24, 2009, and thisProspectus will contain financial statements and other information onPrecise Biometrics' board of directors and auditors.Neither the subscription rights, paid subscribed shares or the newshares will be registered in accordance with the Securities Act orany other act in Canada, and may not be transferred or offered forsale in the United States or Canada, or to persons domiciled there,or on behalf of such persons, other than in such exceptional caseswhere registering in accordance with the Securities Act or other actin Canada is not required.http://hugin.info/131387/R/1331600/315121.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 30.07.2009 - 07:58 Uhr
Sprache: Deutsch
News-ID 4121
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