DUEBENDORF-ZURICH, Switzerland, June 25, 2008 (PRIME NEWSWIRE) -- Esmertec announces that it has increased its ordinary share capital by a nominal amount of CHF 72,014.50 by issuing 720,145 new shares. The shares were placed at a price of CHF 10.00 each. These new shares were created out of Esmertec's authorized capital. The remaining authorized capital after this transaction amounts to 1,332,580 shares with a nominal value of CHF 133,258.00.
The proceeds of the share placement were used to repay in full a bridge loan of CHF 7,201,450.00 which was granted by the existing strategic business partners Sofinnova Capital IV FCPR, Paris, France, and Earlybird Verwaltung GmbH, Munich, Germany, as well as financial investors Patinex AG, Wilen, Switzerland, and Woodbury Finance Limited, Tortola, BVI.
"I am happy to see that the recent development of Esmertec's share price and the shown confidence of our strategic business partners have given the chance to redeem the granted bridge loan in equity much earlier than anticipated. Given our strong balance sheet, Esmertec is in a favorable position to support its innovation and future growth," stated Thomas Hornung Esmertec's CEO.
After this transaction the Company still has a significant amount of authorized capital left to give Esmertec the flexibility for possible strategic moves for the future.
About Esmertec
Esmertec is a leading provider of Java(tm) in-device engines and mobile services platforms. The company's high-performance solutions enable consumers to easily discover and access content and services on any mobile phone. Esmertec's customer database has grown to more than 90 customers, including mobile operators and manufacturers of mobile handsets, set-top boxes and interactive televisions. Its in-device engines power 1 out of 10 new phones (shipped in more than 233 million devices) and its USSD mobile services platforms serves more than 138 million mobile subscribers world-wide.
Esmertec is a founding member of the Google initiated Open Handset Alliance, delivering customized solutions for Android, the mobile platform. Founded in 1999, Esmertec is headquartered in Zurich-Switzerland with subsidiaries in China, France, South Korea, and the USA, and offices in Taiwan and the UK. Esmertec (ESMN) has been listed on the SWX Swiss Exchange since 2005.
Esmertec and Jbed are trademarks of Esmertec AG.
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