THIN - Private placement subscribed 3.5 times
(Thomson Reuters ONE) -
Reference is made to the announcement by Thin Film Electronics ASA ("Thinfilm")
dated 30 September 2010, regarding a private placement for a total of between
10,000,000 and 23,314,000 new shares.
The subscription period for the private placement closed on 1 October 2010, and
Thinfilm is pleased to announce a successful placement whereby Thinfilm has
resolved to issue 23,314,000 new shares. The subscription price was NOK 0.80 per
share, such that the gross proceeds amount to NOK 18.7 million. Including the
two proposed warrants issued to each share subscribed, the potential gross
proceeds are NOK 62.9 million.
Thinfilm received subscriptions for 81.2 million shares; the placement was
subscribed 3.5 times. Notices of allocation will be sent Monday 4 October 2010.
The payment deadline is 12 October 2010 and the shares will be issued as soon as
practical following the registration of the share capital increase.
Following consummation of the private placement, Thinfilm's share capital will
be increased to NOK 28,528,062.64 consisting of 259,346,024 shares outstanding,
each with a par value of NOK 0.11.
2 October 2010
Thin Film Electronics ASA
For further information, please contact:
Geir Harald Aase, VP of Communications and IR, +47 480 37 571, geir.aase (at)
thinfilm.no
About Thinfilm and Printed Electronics
Thin Film Electronics ASA ("Thinfilm") is a Norwegian technology company with
its head office located in Oslo and product development activities in Linköping,
Sweden. Thinfilm is focused on providing low-power, non-volatile, rewritable
polymer memory technology and products in the rapidly growing market of Printed
Electronics. Thinfilm's current main product offering is a 20-bit non-volatile
rewriteable memory printed in a high-volume roll-to-roll process.
Thinfilm is listed on the Oslo Axess marketplace at the Oslo Børs (Oslo Stock
Exchange) with ticker code THIN:
* Oslo
Axess:http://www.osloaxess.no/markedsaktivitet/stockOverview?newt__ticker=THIN
* Thinfilm's website:http://www.thinfilm.no
The Printed Electronics market is still in its early stages, and according to
industry analyst group IDTechEx, is expected to grow to more than USD 50 billion
in market value over the next ten years. IDTechEx predicts that logic (i.e.,
memory and transistors) will be the largest segment in this market, representing
more than 30 per cent of the total.
Using printing to manufacture electronic memory makes it possible to reduce the
number of process steps, dramatically reduce manufacturing costs, as well as the
environmental impact as compared to traditional semiconductor processes.
Commercial applications of printed electronics include e-paper, electronic
readers, and organic light emitting (OLED) displays. Sensors, batteries, and
photovoltaic energy sources are also in development, and together with
Thinfilm's memory technology they will open the door to new products and
applications.
Memory is an essential part of most electronics. Memory is required for
identification, tracking status and history, and is used whenever information is
stored. Thinfilm's non-volatile ferroelectric polymer memory technology is well
suited for application with other printed electronics devices because power
consumption during read and write is negligible, and as it is permanent, no
connection to external power is required for data detainment. Also, the current
required to write information is so small that operation would be limited by the
battery's lifetime and not its capacity.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1448649]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thin Film Electronics ASA via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2010 - 08:25 Uhr
Sprache: Deutsch
News-ID 43868
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