October 3, 2017
The Board of IVISYS AB (‘IVISYS’) has decided to carry out a new share issue with preferential subscription rights for existing shareholders, based on the decision made by the Extraordinary General Meeting of Shareholders, on 2 October 2017. At full subscription, the new share issue will provide the company with approximately SEK 9.86 million, before issuance costs.
In the recent months, IVISYS has had a market breakthrough, with several orders from major global industrial companies, such as GKN Sinter Metals in the United States and LuK Schaeffler in Germany, both of which are subcontractors in the automotive industry, as well as from Atlas Copco in Belgium. The progress is a consequence of the sales team the company has manged to establish throughout the last years, which works across Northern and Eastern Europe. In addition to these orders, the sales unit has managed to build up a large number of potential projects. Through this relentless effort, IVISYS has managed to create a name for itself in the vision industry. The company’s technology is considered to be at a very high level, equivalent to other global players in this area, which is visible in prestigious orders.
In order to strengthen the positive development the company is experiencing, the company’s product portfolio and capacity need to be increased. The new issue is being conducted in order to hire additional staff and to have sufficient resources for increased market investments. The new issue also aims to ensure that the company has the capital requirements related to handling a rapid increase of confirmed orders.
Terms for the new issue
– The right to subscribe is preferential to the company’s shareholders who receive one subscription right for each share.
– For each one (1) existing share there will be one (1) subscription right. Four (4) subscription rights are required to subscribe to one (1) new share.
– The issue price is SEK 5.00 per share.
– The rights issue will not exceed 1 972 106 shares.
Schedule for the new issue
– Subscription period: October 16 – October 31, 2017.
– The last day of trading in the shares, including subscription rights, is 6 October 2017.
– The first day of trading in the shares, excluding subscription rights, is October 9, 2017.
– Settlement date is October 10, 2017.
– Subscription with preferential rights happens by payment no later than 31 October 2017.
– Subscription without preferential rights may occur during the same period.
– Trading in subscription rights will take place on First North during the period October 16–October 27, 2017.
– Trading in paid subscription rights (BTA) will be possible from October 16, 2017 until the shares and warrants have been registered with the Swedish Companies Registration Office, which is expected to happen at the end of November, 2017.
A full issue memorandum and subscription forms will be published on 13 October 2017 on the company’s website www.ivisys.com and on Aktieinvest’s website www.aktieinvest.se before the subscription period begins.
For further information, please contact
Jakob Kesje, CEO IVISYS AB
Tel: 0763 111 911
This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulations. The information was submitted for publication, through the agency of the contact person set out above on October 3, 2017.
InWest Corporate Finance
SE-451 76 UDDEVALLA, Sweden
Phone: +46 (0) 739 93 79 69
Sedermera Fondkommission is Certified Adviser to IVISYS.
IVISYS provides vision-based quality inspection solutions for industry, which can replace both manual and mechanical quality control. IVISYS’ unique patented solutions make it possible to perform complex quality control while keeping the existing production flow unaffected. Unlike existing solutions, IVISYS’ approach makes it possible to perform complex surface controls, control measurements on the micron level and control multiple components in one instant process. The solutions are based on IVISYS’ patented image data processing, which differs fundamentally from the conventional processes used within vision systems today. IVISYS is capable of utilising high-resolution cameras in the company’s image processing, while at the same time processing image information faster than the company’s competitors. The solutions offered, have an average payback period of approximately six months for customers currently relying on mechanical or manual control.