AI assistant
IDEX Biometrics ASA — Share Issue/Capital Change 2014
Jan 3, 2014
3633_rns_2014-01-03_3a59156d-4208-49d1-90c9-da4389159873.html
Share Issue/Capital Change
Open in viewerOpens in your device viewer
Invesco funds invest NOK 300 million (circa USD 49 million) in IDEX ASA
Invesco funds invest NOK 300 million (circa USD 49 million) in IDEX ASA
* Funds managed by Invesco Asset Management Limited, a leading global
investor, agree to acquire 60 million new shares in IDEX ASA, at a price of
NOK 5.00 per share.
* Funds managed by Invesco Asset Management Limited to acquire a holding of
14.8% of IDEX through a new issue of ordinary shares.
* The funds will also receive 30 million warrants in IDEX, each at an exercise
price of NOK 7.50.
"We are pleased to secure this significant funding from funds managed by
Invesco, which is a landmark in the accelerating development of IDEX as a global
leader in the fingerprint sensor mass market. The level of commitment from
Invesco is a recognition of the immense opportunity for IDEX's SmartFinger
technology," said Hemant Mardia, CEO of IDEX.
"IDEX aims to exploit its leading technology and patent position in the fast
growing market for secure biometrics across a diverse range of consumer devices.
The new funds will be utilized to ramp-up the introduction and deployment of our
compelling product roadmap for swipe and touch fingerprint sensors and
strengthen our competitive position to secure commercial partnerships with
global industry leaders during 2014," he added.
Funds managed by Invesco Asset Management Limited have agreed to acquire
60,000,000 new shares in IDEX at a subscription price of NOK 5.00 per share,
totaling NOK 300 million. The pricing of the shares is based on the weighted
average price on the 10 trading days to 20 December 2013, when the investment
terms were substantially agreed. Following the share issue, Invesco will hold
14.8% of the shares in the company.
Upon subscription in the offering, the funds managed by Invesco will also
receive 30,000,000 warrants, each at an exercise price of NOK 7.50. The warrants
are open to be exercised 12 months after the date of their issue and will expire
24 months after issue.
The issuance of shares and warrants are subject to the approval of an
extraordinary general meeting of shareholders in IDEX. The meeting will be
called for as soon as practical and will take place on or about 27 January
2014. A listing prospectus will be prepared in connection with the placement.
3 January 2014
IDEX ASA
Web: www.idex.no
Twitter: http://www.twitter.com/idexasa
LinkedIn: http://www.linkedin.com/company/idex-asa
Press contact
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idex.no
About IDEX
IDEX ASA specialises in fingerprint imaging and recognition technology. IDEX's
vision is to ensure individuals a safe, secure, and user-friendly use of
personal ID. IDEX has developed the award-winning SmartFinger technology
platform based on the Company's core intellectual property, including the
patented fingerprint imaging principle, sensing scheme and chip design. Combined
with core software solutions for imaging and authentication, the SmartFinger
technology enables on-device enrollment, template storage and verification
within the very same module. SmartFinger solutions can be seamlessly integrated
into a variety of embedded applications such as mobile phones, one-time password
devices, Smartcards, payment and ID cards, payment terminals, access control
devices and biometric security and login tokens.
IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Axess
marketplace on the Oslo Børs (Oslo stock exchange). For more information, please
visit www.idex.no or contact IDEX at [email protected]
--o--
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#1752561]