PCB | November 17, 2009
Cicor extends credit agreement
Switzerland-based PCB producer Cicor Technologies has conducted a capital increase of around CHF 10 million with subscription rights for existing shareholders. The Board of Directors of Cicor defined now the terms of the increase.
The company's share capital will be increased by CHF 5,645,520 from the previous CHF 22,582,100 to CHF 28,227,620 by issuing 564,552 registered shares, to be fully paid up, with a par value of CHF 10 each. Bank Vontobel AG has agreed to underwrite all of the newly issued registered shares. The subscription ratio is 4:1, meaning that 4 existing registered shares entitle the holder to subscribe to 1 new registered share at an offer price of CHF 18. The exercise period for subscription rights runs from 17 November until 25 November 2009, 12 noon (CET). The subscription rights for registered shares may be traded on the SIX Swiss Exchange in the period between 17 November and close of trading on 24 November 2009. Ex-rights trading in registered shares begins on 17 November 2009. At the same time Cicor has extended a credit agreement with a consortium of banks, securing CHF 36 million of funding until 2013. This agreement, combined with a successful capital increase, will create a solid foundation for the future development of the Cicor Technologies Group.