UPDATE - Meyer Burger's stockholders clear planned capital hike

At today’s meeting, the stockholders of Meyer Burger (SWX:MBTN) have approved all proposals of the company’s board of directors, including for a capital increase aimed at raising CHF 164.5 million (USD 163m/EUR 153m) gross.

Specifically, the shareholders have approved the proposal for an ordinary capital increase in the amount of CHF 22.8 million through the issuance of 456.85 million new registered shares at CHF 0.36 apiece. The ordinary share capital of the Swiss solar machinery maker will amount to CHF 27.4 million following the transaction.

The stockholders have also approved an increase of conditional capital, from CHF 440,000 to CHF 13.67 million, for the exercise of conversion and/or option rights under its CHF-100-million convertible bond, with respect to a reduction in the conversion price of the bond.

In addition, they have cleared the increase of authorised capital from CHF 240,000 to CHF 5.48 million.

The exercise period for the subscription rights will start on December 7 and end at noon on December 15. The first trading day of the new registered shares is set for December 20, 2016.

The proposed capital hike is the second pillar of the company’s recapitalisation programme.

(CHF 1.0 = USD 0.989/EUR 0.928)

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