NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE
PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT
Reference is made to the stock exchange announcement published by Desert Control
AS (the "Company") on 21 August 2025, with key information relating to the fully
underwritten rights issue raising gross proceeds of NOK 75 million (the "Rights
Issue").
Updated key information relating to the Rights Issue is set out below:
Date on which the terms and conditions of the Rights Issue were announced: 21
August 2025
Last day including subscription rights: 5 September 2025
Ex-date: 8 September 2025
Record Date: 9 September 2025
Date of approval of Rights Issue: 5 September 2025
Number of new shares: 60,743,500
Subscription price per new share: 1.2347
Ratio subscription rights: Each existing shareholder as of 5 September 2025 (and
being registered as such in Euronext Securities Oslo, the Norwegian Central
Securities Depository (the VPS) at the expiry of 9 September 2025 (the Record
Date)), will be granted 1.130154 subscription rights for every existing share in
the Company registered as held by such shareholder. The number of subscription
rights granted to each existing shareholder will be rounded down to the nearest
whole subscription right.
Subscription ratio 1:1 (number of new shares per subscription right)
Manager: Arctic Securities AS
The Company will apply for trading of the subscription rights on Euronext Growth
Oslo.
ISIN for the subscription rights: ISIN NO0013642553
For further information please contact:
James Thomas
Chief Executive Officer
Tel: +1 203 984-7658
e-mail: james.thomas@desertcontrol.com
Leonard Chaparian
Chief Financial Officer
e-mail: leonard.chaparian@desertcontrol.com
Tel: +47 90 66 55 40
This information is published in accordance with the requirements of Rule Book
II for Euronext Growth Oslo, Section 3-10.
IMPORTANT NOTICE These materials are not and do not form a part of any offer of
securities for sale, or a solicitation of an offer to purchase, any securities
of the Company in the United States or any other jurisdiction. Copies of these
materials are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.
The securities referred to in this announcement have not been and will not be
registered under the U.S Securities Act of 1993, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
Any sale in the United States of the securities mentioned herein will be made
solely to "qualified institutional buyers" (QUIBs) as defined in Rule 144A under
the Securities Act, pursuant to an exemption from the registration requirements
under the Securities Act, as well as to major U.S. institutional investors under
SEC Rule 15a-6 to the United States Exchange Act of 1934, as amended.
This communication contains certain forward-looking statements concerning future
events, including possible issuance of equity securities of the Company. Forward
-looking statements are statements that are not historical facts and may be
identified by words such as "believe", "expect", "anticipate", "strategy",
"intends", "estimate", "will", "may", "continue", "should" and similar
expressions. The forward-looking statements in this communication are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
The Company believes that these assumptions were reasonable when made. However,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors include the possibility that the
Company will determine not to, or be unable to, issue any debt, hybrid or equity
securities, and could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements. The Company does not make any guarantee that the assumptions
underlying the forward-looking statements in this announcement are free from
errors. The information, opinions and forward-looking statements contain in this
communication speak only as at its date and are subject to change without
notice.
Each of the Company, the Manager and their respective affiliates disclaims any
obligation or undertaking to update, review or revise any statement contained in
this communication whether as a result of new information, future developments
or otherwise. Neither the Manager nor any of its affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any liability arising from the use of this announcement or
responsibility for the contents of this announcement or any matters referred to
herein. This announcement is for information purposes only and is not to be
relied upon in substitution for the exercise of independent judgement. It is not
intended as investment advice and under no circumstances is it to be used or
considered as an offer to sell, or a solicitation of an offer to buy any
securities or a recommendation to buy or sell any securities of the Company.
Certain figures contained in this announcement, including financial information,
have been subject to rounding adjustments. Accordingly, in certain instances,
the sum or percentage change of the numbers contained in this announcement may
not conform exactly with the total figure given.
The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.
Specifically, neither this announcement nor the information contained herein is
for publication, distribution or release, in whole or in part, directly or
indirectly, in or into or from the United States (including its territories and
possessions, any state of the United States and the District of Columbia),
Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.