Before making an investment decision, prospective investors should carefully read the Finnish language prospectus approved by the Finnish Financial Supervisory Authority, available at www.glaston.net/fi/osakeanti, for more information on Glaston and risks related to the investment.
The Rights Offering in brief
- The objective of the rights offering is to receive gross proceeds of approximately EUR 34 million from shareholders. The proceeds received by the Company as a result of the offering will be used for the repayment of an outstanding bridge facility related to the acquisition of the Swiss Bystronic Maschinen AG and German Bystronic Lenhardt GmbH and their subsidiaries (Bystronic glass)
- Shareholders in Glaston will receive one (1) subscription right in the form of a book-entry entitling them to subscribe for Offer Shares for each share of Glaston owned on the record date 31 May 2019 of the offering. Each six (6) subscription right entitles to subscribe for five (5) offer shares.
- The subscription period for the offering is 5 June 2019─19 June 2019. The subscription rights are subject to trading on Nasdaq Helsinki Ltd between 5 June 2019 and 13 June 2019. The subscription price is EUR 0.89 per offer share.
- The Company’s existing shareholders AC Invest Eight B.V., Hymy Lahtinen Oy, Varma Mutual Pension Insurance Company, and Ilmarinen Mutual Pension Insurance Company, have each separately and irrevocably committed to subscribe in full for the offer shares on the basis of subscription rights allocated to them, apart from Hymy Lahtinen Oy’s undertaking, subject to certain specified limits for investment or shareholding not being exceeded.
Options for action in the rights offering
- use all subscription rights you have received to subscribe for new shares
- buy more subscription rights or sell a portion of your subscription rights on the stock exchange (Nasdaq Helsinki)
- sell all your subscription rights in the stock exchange (Nasdaq Helsinki)
Remember to act
If you do not use your subscription rights to subscribe for shares, the subscription rights will expire without compensation at the expiry of the subscription period.
Indicative timetable for the Offering
|31 May 2019||The first trading date without subscription rights|
|31 May 2019||Record date of the offering on Euroclear Finland|
|5 June 2019||Subscription period for the offering commences|
|5 June 2019||Trading with the subscription rights commences on Nasdaq Helsinki|
|13 June 2019||Trading with the subscription rights expires on Nasdaq Helsinki|
|19 June 2019||Subscription period expires and unexercised subscription rights expire without compensation|
|20 June 2019 (estimate)||Trading with the interim shares commences on Nasdaq Helsinki|
|24 June 2019 (estimate)||Stock exchange release regarding the preliminary result of the offering|
|26 June 2019 (estimate)||Stock exchange release regarding the final result of the offering|
|27 June 2019 (estimate)||Trading with the interim shares expires on Nasdaq Helsinki|
|27 June 2019 (estimate)||The offer shares subscribed for pursuant to the primary subscription rights and the secondary subscription rights in Finland are registered in the trade register|
|28 June 2019 (estimate)||The interim shares are combined with the existing shares of the company on Nasdaq Helsinki|
|28 June 2019 (estimate)||The offer shares subscribed for in the offering are admitted to trading on Nasdaq Helsinki|
Company presentations related to the rights offering
In Tampere, 11 June 2019 at 6.00-8.00 p.m., at Technopolis Yliopistonrinne, Kalevantie 2 (in Finnish)
In Helsinki, 12 June 2019 at 6.00-8.00 p.m. at Kasarmin salit, Kasarminkatu 21 b (in Finnish)
You can sign up for the company presentation events (in Finnish) at www.lyyti.in/Glaston. There are a limited number of seats available.
- 29 May 2019 – Glaston Corporation announces the terms and conditions of the rights offering
29 May 2019 – Glaston publishes pro forma financial information related to acquisition of Bystronic glass, additional financial information on Bystronic glass and information on recent market developments