Meyer Burger postpones half-year results as it seeks financing (updated)

Meyer Burger Technology AG

13/08/2024 06:13

(Adds details from second paragraph onwards)
       ZURICH, Aug 13 (Reuters) - Swiss solar panel maker Meyer
Burger  MBTN.S  said on Tuesday it would postpone the
publication of its 2024 half-year results until Sept. 16 as it
works to obtain additional financing and a strategic partner.
    "As previously reported, Meyer Burger is currently working
intensively on the securing of an additional financing and the
entering into a strategic partnership with a renowned technology
partner," the company said in a brief statement.
        As a result, Meyer Burger said it would postpone the
results, which had previously been due for publication on
Wednesday. It did not give more details.
  
        Earlier this year, the company said it had concluded a
capital increase via a 
    rights issue
    , bringing in gross proceeds of 206.75 million Swiss francs,
money due to be used to fund completion of its Colorado and
Arizona manufacturing facilities.
  
        Meyer Burger's financing struggles have put pressure on
the company's shares, which are down by more than 90% in the
year to date, and way below peaks scaled in early 2023, LSEG
data show.
  
        
  
        
  

 (Reporting by Rachel More and Dave Graham; Editing by Tom
Hogue)
 ((rachel.more@thomsonreuters.com;))