Reference is made to the stock exchange release from Hiddn Solutions ASA (the "Company") on 17 March 2020 concerning allocation of shares with a subscription price of NOK 1.20 per share in a subsequent offering.
Tycoon Industrier AS, a close associate of Mr Øystein Spetalen, a board member of the Company, has on 17 March 2020 been allocated 8 583 929 shares in the subsequent offering pursuant to a subscription guarantee. Following completion of the subsequent offering, Tycoon Industrier AS will hold 35 748 617 shares in the Company, representing 39.76 % (after the new shares has been issued). With respect to mandatory offer obligations, Tycoon Industrier AS intends to divest minimum such number of shares in the Company which exceeds the mandatory offer threshold within the time prescribed by the Securities Trading Act section 6-9, and will consequently not issue a mandatory offer.
Hanekamb Invest AS, a close associate of Mr Martin Nes, chairman of the board of directors, was allocated 447 080 shares in the offering. Following completion of the subsequent offering, Hanekamb Invest AS will hold 2 447 080 shares in Hiddn Solutions ASA, representing 2.72 % of the Company (after the new shares has been issued).
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.