Dave Savastano03.24.11
PARC, a Xerox company, is taking a minority stake in Thin Film Electronics ASA (Thinfilm) as part of the collaboration between the two companies.
PARC will be issued 1,663,680 million new shares equal to NOK 2,785,000 through a private placement. The subscription price of NOK 1.674 per Thinfilm share equals the average closing share price for the last ten trading days up to and including March 22, 2011.
This capital increase is within the 20% authorization to issue new shares provided to the Board of Thinfilm by the AGM. Following consummation of the private placement, Thinfilm's share capital will be increased to NOK 30,831,909.46 consisting of 280,290,086 shares outstanding, each with a par value of NOK 0.11.
Thin Film Electronics ASA is a publicly-listed Norwegian technology company with its head office in Oslo and product development in Linköping, Sweden. Thinfilm is a pioneer in the field of printed electronics, and provides fully-printed non-volatile, rewritable memory for applications in toys and games, logistics, sensor and ID systems.
PARC will be issued 1,663,680 million new shares equal to NOK 2,785,000 through a private placement. The subscription price of NOK 1.674 per Thinfilm share equals the average closing share price for the last ten trading days up to and including March 22, 2011.
This capital increase is within the 20% authorization to issue new shares provided to the Board of Thinfilm by the AGM. Following consummation of the private placement, Thinfilm's share capital will be increased to NOK 30,831,909.46 consisting of 280,290,086 shares outstanding, each with a par value of NOK 0.11.
Thin Film Electronics ASA is a publicly-listed Norwegian technology company with its head office in Oslo and product development in Linköping, Sweden. Thinfilm is a pioneer in the field of printed electronics, and provides fully-printed non-volatile, rewritable memory for applications in toys and games, logistics, sensor and ID systems.