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Press Release

Revised proposed targeted new share issues in myFC following additional investor and convening of a new extraordinary general meeting

A new European investor as well as a representative of the main shareholder in myFC intend to subscribe for approximately 10 million shares in myFC, which is expected to generate approximately SEK 19 million. As a result of this the extraordinary general meeting of 24 June 2020 is cancelled and a new extraordinary general meeting will be convened on 6 July 2020 where the revised new share issues will be presented for resolution. In total it is proposed that 25,987,900 shares are issued, which is expected to generate SEK 51,975,800.

On June 4 2020, the Board of myFC announced a targeted new issue to a group of current and new European investors. Further to this, a major shareholder proposed an additional directed new share issue to executive management and the Board of Directors. The Board today announces that a new European investor intends to subscribe to an additional 9,320,000 shares, and that a member of the Board of Directors and representative of the major owner in myFC intends to subscribe to an additional 466,000 shares.

All conditions from the previously proposed targeted new share issues remain: shares will be subscribed for at a price of SEK 2 per share, implying a premium of about 5 percent compared to the closing price on June 15, 2020. The reason for the deviation from the shareholders' preferential rights is that the company is in need of financing and that the subscribers have declared their willingness to invest in the company on terms favorable to the company. This combined with the fact that a targeted issue means lower costs and a faster process, indicates that it is in the company's and shareholders’ interest to make an issue with deviation from the shareholders' preferential rights. The subscription price is negotiated with the subscribers.

The previously announced Extraordinary General Meeting has been cancelled and notice for a new Extraordinary General Meeting to be held on July 6 2020 will be sent out in a separate press release.

 “I am pleased to share the excellent news with the market that we are welcoming a new major investor in myFC and that we are continuing on this path of a rigorous strategic growth plan paired with accelerated commercialization of myFC’s unique fuel cell technology,” says Markus Hermanek, Chairman of the Board at myFC.

The new share issues in total (adding the announcement from June 4 2020 to today’s announcement) means the number of shares in myFC will increase from 156,741,418 to 182,729,318 and the share capital will increase by approximately SEK 1,519,760 from SEK 9,166,165.63 to SEK 10,685,926.01, corresponding to a dilution of the votes and the capital of approximately 14,2 percent, after registration at the Swedish Companies Registration Office.

The following have been invited to subscribe to the targeted new share issues (announcements on June 4 2020 and today combined):
 

Investment (SEK) No of shares
European Investors 48,464,000 24,232,000
Board and Executive Management
Alex Guy 3,262,000 1,631,000
Markus Hermanek 139,800 69,900
Johnny Bräster 50,000 25,000
Ulf Henning 20,000 10,000
Sebastian Weber 20,000 10,000
Michael Glantz 20,000 10,000
Total 51,975,800 25,987,900
 

This information is information that myFC Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 09:00 CEST on 16 June 2020.