Thin Film Electronics ("THIN") issues this notice on behalf of Woodford Investment Management LLP ("Woodford") acting as agent for and on behalf of CF Woodford Equity Income fund, Old Mutual Woodford Equity Income fund and Woodford Patient Capital Trust.
Reference is made to the announcement by THIN on 19 February 2016 that funds managed by Woodford had agreed to invest NOK 360 million in THIN, with the possibility of additional investment by exercise of warrants. The investment was subject to approval by an extraordinary general meeting of shareholders in THIN, which meeting was held on 16 March 2016 and approved the issue of shares and warrants.
Following the extraordinary general meeting and THIN's fulfilment of other conditions, CF Woodford Equity Income fund, Old Mutual
Woodford Equity Income fund and Woodford Patient Capital Trust have subscribed for shares and warrants.
The share capital of THIN will consist of 676,212,357 shares after the share issue.
CF Woodford Equity Income fund, Old Mutual Woodford Equity Income fund and Woodford Patient Capital Trust have combined subscribed for 120,000,000 shares, and combined with previous holdings in THIN control 18.51 per cent of the issued share capital and votes in THIN. CF Woodford Equity Income fund, Old Mutual Woodford Equity Income fund and Woodford Patient Capital Trust have combined also subscribed for 40,000,000 warrants, thereby holding an additional combined number of shares and warrants of 160,000,000 shares from this transaction.