Dyesol Share Purchase Plan Increased to $4 Million

The Dyesol Share Purchase Plan (SPP), which closed on May 31, received valid applications for A$22.53 million. This represents oversubscription of approximately 10.5 times (10.5x). In response to this overwhelming demand, Dyesol and Tasnee have agreed to increase the size of the SPP to a total of $4M in order to provide shareholders with a more meaningful result with the monies set aside for investment. Accordingly, applications will be scaled back on a pro-rata basis and investors will receive approximately 17.8% of the sum sought to be invested at a share price of 16.6 cents per share.

The SPP shares have now been authorised by the board for allotment to a total of 1,960 Dyesol shareholders. The company’s share registry, Computershare, has also been instructed to notify all applicants and refund the balance of application monies as soon as possible.

Dyesol would like to thank Tasnee for agreeing to amend its strategic investment agreement and demonstrating a keen willingness to align itself with all Dyesol shareholders. Further, Dyesol thanks all shareholders for the vote of confidence in the commercialization prospects of its dye solar cell technology and looks forward to building shareholder wealth together in the coming months.