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New listing of NOCTILUCA S.A. on NewConnect

The company NOCTILUCA S.A. was newly listed on NewConnect on 12 April 2022.

NOCTILUCA S.A. is the 383^rd company listed on NewConnect and the seventh new listing on NewConnect in 2022. 

Key information

*within the last 12 months before the submission of the application for introduction

** as the reference price equal to PLN 28

Issuer’s history and business

Noctiluca S.A. was spun off from Synthex Technologies sp. z o.o. and now operates as a stand-alone entity with a mission to research and develop proprietary technologies for the OLED* market and commercialise them together with industry partners. The company was incorporated on 18 December 2018. Under the deed of incorporation, series A, series B and series C shares were taken up by investors. The company was established with the participation of financial investors: R Ventures I ASI Sp. z o.o., ASI Valuetech Seed Sp. z o.o., and Polski Instytut Badań i Rozwoju Inwestycje Sp. z o.o. (funds under the NCBR Bridge Alpha programme).

*OLED stands for Organic Light Emitting Diode, a technology which uses organic substances that convert electricity into light (emitters) to build high quality displays, using all these layers to produce a finished OLED display which emits the image viewed by the user.

The issuer is a technology company and develops advanced chemical compounds used to produce next-generation displays and lighting. The chemical compounds designed and synthesised by Noctiluca are called emitters. When excited by an electrical charge, these organic compounds emit light of a specific colour. This property has enabled the development of a modern display technology, OLED.

OLED emitters in powder form are a key component of any OLED display. The powder is encapsulated inside a diode. The diodes are used to make an OLED panel, then a matrix, and finally, with all these layers, the finished OLED display which emits the image seen by the user.

OLED emitters allow to build a panel which does not require additional backlighting (as it emits light itself thanks to the emitters). Displays constructed with the technology are much thinner, lighter, and more efficient. The substrate of an OLED panel can be flexible, and so can entire OLED displays.

In 2019, the first contracts to synthesise emitters (production and sale of emitters available on the market) were completed for the international partner Ossila. The Noctiluca team synthesised more than a dozen OLED compounds for Ossila, corroborating the team’s competence in the field of emitter synthesis.

Public offering of series G and series H shares

The issue of series G and series H shares was a public offering addressed to fewer than 150 persons. The new issue shares were taken up for cash.

Series G

Subscription dates: from 9 April 2021 to 12 April 2021

Number of shares in the subscription: 52,500 shares

Issue price: PLN 20.00

Number of persons who subscribed for and took up the shares: 7 natural persons

Series H

Subscription dates: from 18 August 2021 to 30 September 2021

Number of shares in the subscription: 125,000 shares

Issue price: PLN 28.00

Number of persons who subscribed for and took up the shares: 75 natural persons

The Issuer raised PLN 4,550,000 in the issue of series G and series H shares.

Issuer’s selected financials (PLN):

*unaudited

Shareholders

Financial instruments newly listed on NewConnect:

- 743,472 series A ordinary bearer shares,

- 194,028 series B ordinary bearer shares,

- 62,500 series C ordinary bearer shares,

- 300,000 series D ordinary bearer shares,

- 52,500 series G ordinary bearer shares,

- 125,000 series H ordinary bearer shares.

The application covers all issued shares of the Company.