Regulatory News:
- The Board of Directors of Precise Biometrics ("Precise Biometrics") (STO:PREC) has resolved, subject to approval of the AGM on April 27, to undertake an issue with preferential rights for Precise Biometrics' shareholders that will raise a maximum of SEK 54 million before deduction of issue related costs.
- Five (5) existing shares entitles to subscription of two (2) new shares in Precise Biometrics. The subscription price is SEK 1.00 per share.
- The rights issue is guaranteed to SEK 38 million, 70% of the rights issue. All current shareholders in the Board of Directors and company management have already committed to subscribe for their pro-rata shares in the rights issue.
- The rights issue is carried out as a part of the Company's business plan - Plan 2015 - which mainly includes further investments in sales, marketing and product development targeted towards biometric solutions for the SmartPhone and Tablet PC market. The rights issue will also set the foundation for an ambitious market penetration through new human resources within development and sales targeted towards specific industries such as Banking and Government, as well as it will finance working capital for new orders.
- Following approval of the AGM on April 27 2011, the subscription period will run from May 5 - 20, 2011.
"Plan 2015 is an ambitious and aggressive platform that will require investments in product development and human resources. We see great potential for biometric solutions targeted towards mobile handsets and to achieve success in this field we are investing in product development for the mobile segments in the coming period. Plan 2015 will also require new skill sets and we are in the process of employing new people with relevant sales experience from specific industries. But we also need resources within product development that corresponds with the journey we have begun. We furthermore continue to believe in strong growth in the two other business units and we are also expecting large hardware orders from US government agencies. The rights issue will help finance these orders" says Thomas Marschall, CEO at Precise Biometrics.