An extraordinary general meeting of Hiddn Solutions ASA ("Hiddn" or the
"Company") was held today, 4 September 2019. Minutes from the meeting is
enclosed hereto.
As set out in the attached minutes, the Company's share capital is resolved
decreased by NOK 33,520,375.29, from NOK 39,299,750.34 to NOK 5,779,375.05 by
decrease of the nominal value of the Company's shares from NOK 0.34 to NOK 0.05.
Further, the Company's share capital is resolved increased with NOK 0.95 by
issuance of 19 new shares in the Company, each with a nominal value of NOK 0.05.
After this, the Company's new resolved share capital is NOK 5,779,376.00 divided
on 115,587,520 shares, each with a nominal value of NOK 0.05.
Moreover, the Company's extraordinary general meeting resolved to carry out a
20:1 reverse share split of the Company's shares so that 20 shares in the
Company, each with a nominal value of NOK 0.05, is consolidated to 1 share with
a nominal value of NOK 1.00. Key information relating to the reverse share split
will be announced as soon as applicable dates are determined by the board in
accordance with the authorization granted by the general meeting to the board of
directors.
The resolutions of a share capital decrease, share capital increase and 20:1
reverse share split made by the annual general meeting of the Company on 28 June
2019 were annulled in connection with the abovementioned resolutions.
Conditioned upon the abovementioned share capital decrease, share capital
increase and reverse share split being registered in the Norwegian Register of
Business Enterprises, the extraordinary general meeting resolved to increase the
Company's share capital by in aggregate NOK 8,550,000 by issuance of 8,550,000
new shares in the Company, each with the new resolved nominal value and
subscription price of NOK 1, in connection with the private placement and debt
conversion announced by the Company on 17 July 2019. Subject to the
aforementioned, the Company's share capital will be NOK 14,329,376 divided on
14,329,376 shares, each with a nominal value of NOK 1.
Lastly, and also conditioned upon all of the above resolutions, the
extraordinary general meeting resolved to carry out a subsequent offering of up
to 2,850,000 new shares in the Company at a subscription price of the new
resolved nominal value of NOK 1. If all shares are subscribed for in the
subsequent offering, the Company's share capital will increase by NOK 2,850,000.
Further information concerning the subsequent offering will be published prior
to commencement of the subscription period on 11 September at 09:00 (CEST).
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
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