Investors

Not for distribution or release, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, Switzerland or any other jurisdiction in which the distribution or release would be unlawful. Other restrictions are applicable. Please see the Important Notice at the end of the press release. 

In order to meet the increased working capital requirement in connection with the rising production rate during 2018, the board of directors of Cimco Marine has resolved on a share issue of approximately SEK 25.5 million with preferential rights for the company’s existing shareholders.

Each existing share in Cimco Marine entitles to one (1) subscription right. Twenty-three (23) subscription rights entitle the holder to subscribe for three (3) new shares. The subscription price will be SEK 7.50 per share, meaning that the total issue proceeds amount to not more than approximately SEK 25.5 million before issue costs, by issue of not more than 3,404,556 new shares. The share capital will be increased with not more than SEK 102,084.31.

In the event that not all new shares are subscribed for with preferential rights, allotment of the remaining shares, within the maximum amount of the rights issue, shall be made to subscribers who have subscribed for shares without preferential rights. Firstly, such allotment shall be made to those who have subscribed for shares with subscription rights and, in the event of oversubscription, pro rata in relation to the number of subscription rights used for subscription of shares, and to the extent that this is not possible, by drawing of lots. Secondly, allotment shall be made to shareholders and others who have notified their interest to subscribe for shares without subscription rights, and in the event of oversubscription, pro rata in relation to the number of shares that each such applicant has applied to subscribe for, and to the extent that this is not possible, by drawing of lots.

The record date at the Swedish Central Securities Depository, Euroclear Sweden AB, for receiving subscription rights is 4 September 2018 and the share will thus be traded excluding the right to participate in the rights issue from 3 September 2018. The subscription period runs from 6 September 2018 up to and including 20 September 2018, or such later date as decided by the board of directors. Trading in subscription rights on Nasdaq First North is expected to take place from 6 September 2018 up to and including 18 September 2018.

The rights issue is resolved by the board of directors, as authorised by the general meeting on 19 April 2018. The rights issue is covered by subscription and guarantee undertakings to an amount corresponding to 100 per cent of the issue proceeds, through a subscription undertaking from the existing shareholder Prioritet Group AB and through a subscription and guarantee undertaking from the existing shareholder Per Lindberg. 

Indicative timetable 

•  31 August 2018 Last day of trading including the right to participate in the rights issue. 
•  3 September 2018 First day of trading excluding the right to participate in the rights issue.
•  4 September 2018 Record date for participation in the rights issue.
•  Around 6 September 2018 Publication of investment memorandum.
•  6 – 20 September 2018 Subscription period.
•  6 – 18 September 2018 Trading in subscription rights.
•  6 September 2018 Trading in paid subscribed shares (BTA) until the rights issue has been registered with the Swedish Companies Registration Office.
•  Around 24 September 2018 Announcement of the outcome of the rights issue

Advisers 

Advokatfirman Lindahl KB is Cimco Marine’s legal adviser in connection with the rights issue. Västra Hamnen Corporate Finance AB is Certified Adviser for Cimco Marine AB. 

For further information, please contact: 

Myron Mahendra, CFO and EvP in charge of Administration and HR, myron.mahendra@oxe-diesel.com, +46 76 347 59 82
Andreas Blomdahl, CEO, andreas.blomdahl@oxe-diesel.com, +46 431 44 98 99 

Cimco Marine AB (publ) is obligated to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 28 August 2018 at 07.30. 

Important Notice 

Publication or distribution of this press release may in certain jurisdictions be subject to statutory restrictions, and persons in the jurisdictions where this press release has been published or distributed should be aware of and comply with such legal restrictions. This press release may not be published or distributed, either directly or indirectly, in or to the United States, Canada, Australia, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or any other country where such action fully or partly requires that any other measure be undertaken in excess of what is required by Swedish law, or where this would conflict with laws or regulations in that country. The information in this press release may also not be forwarded, reproduced or displayed in a way that contravenes such restrictions. Failure to comply with this instruction may constitute a breach of the United States Securities Act of 1933 ("Securities Act") or applicable laws in other jurisdictions. This press release does not contain and does not constitute an invitation or offer to acquire, sell, subscribe or otherwise trade in shares, subscription rights or other securities of Cimco Marine AB (publ). The new shares will not be registered under the Securities Act nor by any equivalent law in any US state or applicable law in another country.

Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high power segment. Cimco Marine's unique patented engine-to-propulsion power transmission solutions have led to high demand for the company's engines worldwide.