2019-03-18
Cimco Marine AB publishes prospectus in connection with a rights issue of approximately SEK 154 million
This press release may not be published or distributed, directly or indirectly, within or to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where such action would be illegal or subject to legal restrictions.
Cimco Marine AB (publ) ("Cimco Marine" or the “Company") publishes a prospectus in connection with the rights issue of units for which the subscription period commences on March 20, 2019. The prospectus has today been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
The record date for participating in the rights issue was March 15, 2019 and the subscription period runs from March 20 to April 3, 2019. The last day of trading including the right to subscribe for units was March 13, 2019. The first day of trading excluding the right to subscribe for units was March 14, 2019. The rights issue is also open to the public.
For complete information on the rights issue, please refer to the prospectus which includes complete terms and instructions, and is available at Cimco Marine’s, Hagberg & Aneborn Fondkommission AB’s and Redeye Aktiebolag’s respective websites (www.oxe-diesel.com, www.hagberganeborn.se, www.redeye.se). Application forms for subscription without preferential rights will be available on the above websites as the subscription period begins.
Through the rights issue, Cimco Marine will initially raise up to approximately SEK 103 million and an additional approximately SEK 51 million assuming full utilization of the warrants, before deduction of issue related costs. The rights issue is covered by subscription undertakings and guarantee commitments from principal owners and new investors corresponding to approximately 98 % of the initial issue proceeds.
Advisers
Redeye Aktiebolag acts as financial adviser and Advokatfirman Lindahl Kommanditbolag acts as legal adviser in connection with the rights issue.
Certified Adviser
Västra Hamnen Corporate Finance AB is Certified Adviser for Cimco Marine. Contact details to Västra Hamnen: tel. +46 40 20 02 50, e-mail ca@vhcorp.se.
For further information, please contact:
Anders Berg, Chairman, anders.berg@oxe-diesel.com, +46 70 358 91 55
Andreas Blomdahl, CEO, andreas.blomdahl@oxe-diesel.com, +46 431 44 98 99
Myron Mahendra, CFO and EvP in charge of Administration and HR, myron.mahendra@oxe-diesel.com, +46 76 347 59 82
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 March 18, 2019 at 4.40 pm.
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.