Woodford funds exercise warrants, invests NOK 223 million (circa USD 26 million) in IDEX
Funds managed by Woodford Investment Management LLP, a leading UK-based investment management company, has given notice of exercise of 26.25 million warrants for shares in IDEX ASA, at NOK 8.50 per share, investing NOK 223 million in the company. The board of IDEX ASA has resolved to issue the shares.
The warrants were issued in the second quarter of 2015, when the Woodford funds acquired 52.50 million shares in IDEX, investing NOK 297 million (USD 37 million) at that time.
“This additional investment further strengthens IDEX’s balance sheet. The early exercise of the warrants is a clear recognition of the huge value-creation potential of IDEX’s fingerprint sensor technology,” said IDEX’s CEO Hemant Mardia. He added that “IDEX off-chip technology offers superb imaging quality at very competitive prices. In addition, the off-chip technology enables IDEX to offer a unique in-glass solution ideally suited to the mobile market, and flexible sensors for integration into cards.”
Following the share issue, the company’s share capital will be NOK 79,651,412.40 divided into 531,009,416 registered shares each with a nominal value of NOK 0.15.
7 December 2015
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Henrik Knudtzon, CFO, +47 9302 2827, hk(at)idexbiometrics.com
IDEX ASA specialises in fingerprint imaging and recognition technology. The company has a strong patent portfolio consisting of 25 patent families including more than 225 granted patents, as well as cross licenses with Apple. IDEX has a highly competitive product road map including swipe sensors, touch sensors with disruptive cost positions, and a unique in-glass solution. The company is currently in the process of commercialising the products.
IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets: Mobile, ID & smart cards and the Internet of Things. IDEX has seen a substantial increase in interest from global OEMs in the last quarters, and is positioned as of three independent players with the relevant IP to capture market share.
IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at email@example.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.