Thin Film Electronics ASA ("Thinfilm") hereby announces its intent to undertake a private placement of shares in order to raise additional working capital in the Company. As foreshadowed by the Q2 2010 report, the Company needs to raise capital by the fourth quarter of 2010.
The intent is to undertake and complete the private placement within this timeframe, pursuant to the existing board authorization to issue shares as granted by the general meeting in the Company.
At the present time, it is expected that the contemplated private placement will not exceed ten (10) percent of the Company's share capital and that the offer will be directed to less than 100 persons or entities. Warrants may be attached to the shares that are subscribed for and allocated in the private placement.
The intent is that the private placement can be directed towards both existing shareholders and new investors. Thinfilm hereby invites persons and/or entities, who may be interested to participate in the private placement, to submit a Notification of Interest to the Company. Such Notification of Interest should be sent by letter, telefax or e-mail to the following address:
Thin Film Electronics ASA
Henrik Ibsensgate 100
P.O. Box 2911 Solli
NO-0230 Oslo, Norway
Attn.: Davor P. Sutija and Geir H. Aase
Fax: +47 23 27 27 01
E-mail: davor.sutija (at) thinfilm.no with a copy to geir.aase (at) thinfilm.no
Thinfilm hereby requests that such Notification of Interest be submitted to the Company by no later than Thursday 30 September 2010 at 17.30 hrs (Oslo time). The Notification of Interest should, at the very least, include name, address, telephone, telefax and e-mail address of the interested party.
Upon receipt of Notifications of Interest and upon further consideration and resolution by the Board of Directors, the Board will issue a subscription offer, which will include the detailed terms and conditions of the placement, hereunder the number of shares that may be subscribed for and the subscription price per share. The final resolution by the Board of Directors to proceed with a private placement will be announced in the Oslo Axess disclosure system. Prospectus requirements, if any, will be considered once the final terms and conditions of the contemplated offer have been established by the Board.
Note that this announcement does not constitute an offer of securities for sale or issuance.
27 September 2010
Thin Film Electronics ASA