Oslo, Norway, 11 May 2023: Cloudberry Clean Energy ASA's ("Cloudberry" or
"Company") general meeting has resolved a share purchase program for the Board
of Directors. Pursuant to this program the members of the Board of Directors
shall invest 30% of the fixed gross remuneration (prior to tax) per year in the
Company's shares until the value of the shares of each individual member amounts
to at least two years of board remuneration. The members of the Board of
Directors shall after the threshold of two years board remuneration has been
achieved, be offered to use up to 30% of the gross board remuneration (prior to
tax) to acquire shares. The shares that are acquired pursuant to the program
subject to a three-year lock-up and will be offered at a subscription price
which is 15% below the prevailing market price.
In relation to this program, the board of directors has today resolved to
increase the Company's share capital by NOK 17,549.75 through issuance of 70,199
new shares at a subscription price of NOK 9.54 per share. The subscription price
represents a 15% discount on the closing price of Cloudberry's shares on 11 May
2023. All existing board members have subscribed for shares.
The new shares are subject to a three-year lock-up.
Following the issuance of the new shares, the Company will have 291,370,104
shares outstanding, each with a nominal value of NOK 0.25. The total share
capital of the company will be NOK 72,842,526.00. The company's Articles of
Associations will be updated accordingly.
For further information, please contact:
Anders Lenborg, CEO, +47 934 13 130, al@cloudberry.no
Christian Helland, CVO, +47 418 80 000, ch@cloudberry.no
Ole-Kristofer Bragnes, Senior Financial Officer, +47 917 03 415,
okb@cloudberry.no
The information contained in this stock exchange announcement is subject to the
disclosure requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
About Cloudberry
Cloudberry is a renewable energy company operating in the Nordics and in
accordance with local tradition. The Company owns, develops, and operates
hydropower plants and wind farms in the Nordics. Cloudberry is powering the
energy transition to a sustainable future by providing new renewable energy
today and for future generations. The Company believes in a fundamental long
-term demand for renewable energy in Europe. With this as a fundament,
Cloudberry is building a sustainable, scalable, efficient, and profitable
platform for creation of shareholder value. Cloudberry`s shares are traded on
Oslo Stock Exchange's main list (Oslo Børs), supported by strong owners and led
by an experienced team and board. The Company has offices in Oslo, Norway (main
office), Karlstad, Gothenburg and Eskilstuna, Sweden. To learn more about
Cloudberry, go to http://www.cloudberry.no