Reference is made to the stock exchange notification on 19 December 2019 from Hiddn Solutions ASA (the “Company”) regarding approval of a private placement of NOK 8.5 million in the Company by issuance of 7,164,688 new shares in the Company at a subscription price of NOK 1.20 per new share directed towards Tycoon Industrier AS (the “Private Placement”).
After completion of the Private Placement, Intelco Concept AS’ shareholding of 1,794,486 shares in the Company will represent approximately 7.7% of the total issued and outstanding shares in the Company. Intelco Concept AS is represented on the Company’s board by Øystein Tvenge. The total shareholding of Intelco Concept AS (1,794,486 shares) and Øystein Tvenge (555,259 shares) will for the same reason decrease from 16.0% to 11.1%. There is no change in the total shareholding of neither Intelco Concept AS nor Øystein Tvenge.
Further to the above, after completion of the Private Placement, Torstein Tvenge’s current shareholding of 1,000,001 shares in the Company will represent approximately 4.3% of the total issued and outstanding shares in the Company.