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New listing of CREOTECH INSTRUMENTS S.A. on NewConnect

The company CREOTECH INSTRUMENTS S.A. was newly listed on NewConnect on 12 October 2021.

CREOTECH INSTRUMENTS S.A. is the 372^nd company listed on NewConnect and the 23^rd new listing on NewConnect in 2021. 

Key information

*at the reference price for the first day of trading of shares equal to PLN 61

Issuer's history and business

Creotech sp. z o.o. based in Warsaw was established on 3 January 2008. The legal form of the Issuer was changed pursuant to Resolution No. 3 of the Extraordinary General Meeting of the company of 22 November 2011 on transformation of Creotech spółka z ograniczoną odpowiedzialnością into Creotech Instruments spółka akcyjna and on establishing the composition of the Supervisory Board and the Management Board of the first term. The transformation of the Issuer was entered into the Register of Entrepreneurs of the National Court Register on 2 January 2012.

Since the beginning of its activity, the Issuer has aimed at cooperation with the best specialists in the world, providing them with the most advanced technological solutions. As such, the Issuer cooperates closely with the most important physics laboratories in Europe and the USA, and since 2013 it has participated in the projects of the European Space Agency (ESA). The first project carried out by the Issuer for the ESA was the manufacture of electronic components for the ASIM experiment on the International Space Station.

According to the Management Board of the Company, as of the date of the information document, the Issuer is the largest and one of the most dynamically developing entities operating in the Polish space sector. The share of CREOTECH in the total value of ESA contracts in 2014-2020 (which are the main source of revenues for Polish companies in the sector), in which Polish entities have participated, amounted to approximately 20%.

The Company is the only entity in Poland to achieve the capacity to build microsatellites. CREOTECH is the originator, constructor and creator of a proprietary technological solution including the highly competitive technology of a multifunctional microsatellite platform called HyperSat. The platform is intended for space missions carried out by satellites in the range from 10 kg to 60 kg (with a possibility of scaling up to 120 kg in the future). This platform may serve Earth observation, telecommunications, and other applications. Furthermore, as of the date of the information document, the Company is engaged in a research and development project to develop and launch its own Earth observation satellite, EagleEye.

The Company specialises in the development and production of advanced electronic products and IT systems for other global markets, including the production of specialised electronics and measuring devices for, among others, quantum computers, quantum cryptography, quantum and high energy physics. CREOTECH also develops systems based on images of the Earth, e.g., monitoring of height obstacles for manned and unmanned aerial vehicles.

Issuer's development strategy

The main strategic goal of the Company's development is to launch its first own Earth observation microsatellite in 2023-2024 and to start commercial sales of similar microsatellites worth approximately USD 1-4 million each in a number of up to several dozen units per year.

Issuer's selected financials (PLN):

The Issuer's share capital is PLN 158,623.20 according to the entry in the National Court Register and is divided into:

• 1,000,000 series A ordinary bearer shares,
•      62,752 series B ordinary bearer shares,
•      67,300 series C ordinary bearer shares,
•    102,000 series D ordinary bearer shares,
•      71,000 series E ordinary bearer shares,
•      68,000 series F ordinary bearer shares,
•      30,180 series G ordinary bearer shares,
•    185,000 series H ordinary bearer shares

with a par value of PLN 0.10 per share. 

Public offering of series H shares

Issue date: 29 March – 19 April 2021 

Allotment of series H shares: 20 April 2021 

Number of financial instruments in the subscription: 185,000 series H shares.

All issues series H shares (185,000 shares) were allotted in the subscription.

The average reduction rate of allotment in the small investor tranche was 96.27%.

The issue price of series H shares was PLN 61.00.

Series H shares were fully paid for in cash.

Series H shares were allotted to 191 investors. Series H shares were allotted to 79 investors in the small investor tranche. Series H shares were allotted to 81 investors in the large investor tranche. Series H shares were allotted to 37 investors in the employee tranche.

Shareholders

All series A, B, C, D, E, F, G and H shares issued by the Company will be listed in the alternative trading system on NewConnect.