LUND, SWEDEN-Precise Biometrics AB (publ), which develops and sells world-leading and user-friendly biometric security solutions based on fingerprints and smart cards, has issued new shares with preferential rights for shareholders in the Company. The new issue of shares was oversubscribed, which means that the Company will realize a total, prior to the deduction of issue costs, of SEK 85 million.
The issue of shares was guaranteed in its entirety through the undertaking of subscriptions, declarations of intent, and issue guarantees. Since the new issue of shares was oversubscribed it was not necessary to utilize the issue guarantee.
The new issue of shares has increased the number of shares by 24,305,150. Following the new issue the total number of shares is 97,220,600.
The majority of the capital raise for Precise Biometrics will be used to increase efforts in marketing and sales, and to focus operations on activities that create profitability and generate a positive cash flow for the Company. This will take place through focused investment in the biometrics and smart card markets, where the penetrate for national ID cards, electronic passports, products, and consulting services is close to realization.
“It is gratifying that our shareholders have shown such confidence in the Company. We will now justify this by significantly improving the Company’s earnings”, says Thomas Marschall, President and CEO of Precise Biometrics. “It is important that we move our focus from technology to the market, and that we offer profitable biometric solutions to our customers,” concludes Thomas Marschall.
Precise Biometrics’ financial advisor in conjunction with the new issue of shares has been Danske Markets.
Precise Biometrics AB (publ)
The Board of Directors
For further information, please contact
Ann-Sofi Höijenstam, Corporate Communications Manager, Precise
Telephone +46 46 31 11 47, or +46 734 35 11 47
Precise Biometrics AB (publ.) is an innovative security company that supplies world-leading systems for fingerprint and smart card-based authentication. The company’s solutions replace keys, PIN codes and passwords and enhance the integrity of ID cards and passports. With its Precise Match-on-Card(TM) technology, the company is a market leader within smart ID cards. The product line includes systems for access control to buildings, computers and networks and for integration into ID cards and passports. The Precise Biometrics group has subsidiaries in Sweden, Great Britain, USA and a joint venture agreement in China. The group headquarters are in Lund, Sweden. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol: PREC). For more information, please visit http://www.precisebiometrics.com/
Source: Precise Biometrics AB