NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,
ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE
"UNITED STATES"), AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Oslo, 19 April 2018. Reference is made to the stock exchange announcement
published earlier today, on 19 April 2018, regarding the end of stabilization
and exercise of the over-allotment option in respect of the shares in Elkem ASA
("Elkem" or the "Company", OSE ticker "ELK").
Bluestar Elkem International Co., Ltd. S.A. ("Bluestar") has today sold
21,161,464 shares in Elkem at a price of NOK 29 per share under the over
-allotment option granted to Morgan Stanley & Co. International plc, on behalf
of the Managers (as defined below) in the Company's initial public offering.
Bluestar is represented by Michael König (chairman), Olivier de Clermont
-Tonnerre and Guihua Pei on the board of directors of Elkem.
By this transaction, Bluestar's shareholding in Elkem is reduced from 61.8% to
58.2%. Following the transaction, Bluestar owns 338,338,536 shares in Elkem.
This information is subject to the disclosure requirements pursuant to section 4
-2 of the Norwegian Securities Trading Act.
For further queries, please contact:
Morten Viga, CFO
Tel: +47 416 09 752
Odd-Geir Lyngstad, Head of Investor Relations
Tel: +47 976 72 806
About Elkem
Founded in 1904, Elkem is one of the world's leading suppliers of silicon-based
advanced materials with operations throughout the entire value chain from quartz
to specialty silicones, as well as attractive market positions in specialty
ferrosilicon alloys and carbon materials. Headquartered in Oslo, the company's
27 production sites (including a plant under construction) and extensive network
of sales offices and agents around the world ensure proximity to customers and
access to attractive end markets. Elkem's over 6,000 skilled employees and
significant R&D activities provide a solid basis for further technology-driven
growth and optimization. Helge Aasen has been the CEO since 2009.
About Bluestar
Bluestar is a leading company in the new chemical materials, basic chemical
engineering, animal nutrition and environmental science sectors. It is a
subsidiary of China National Chemical Corporation, a state-owned company that is
one of China's leading chemical companies.
IMPORTANT INFORMATION
These materials are not for distribution, directly or indirectly, in or into the
United States, Australia, Canada or Japan. These materials do not constitute or
form a part of any offer or solicitation to purchase or subscribe for securities
in any jurisdiction where such offer or sale would be unlawful and the
announcement and the information contained herein are not for distribution or
release, directly or indirectly, in or into such jurisdictions.
The shares mentioned herein have not been, and will not be, registered under the
United States Securities Act of 1933 (the "Securities Act"), and may not be
offered or sold in the United States absent registration or exemption from, or
in a transaction not subject to, the registration requirements of the Securities
Act. There is no intention to register any shares referred to herein in the
United States. Any shares sold in the United States will be sold only to
qualified institutional buyers (as defined in Rule 144A under the Securities
Act) pursuant to Rule 144A or another exemption from registration under the
Securities Act.
This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons who have professional experience in matters relating to
investments falling within Article 19(2) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005, as amended from time to time (the
Order) or (iii) high net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49(2) of the Order or (iv)
certified high net worth individuals and certified and self-certified
sophisticated investors as described in Articles 48, 50, and 50A respectively of
the Order or (v) persons to whom this communication may otherwise be lawfully
communicated (all such persons together being referred to as "relevant
persons"). Any investment activity to which this communication relates will only
be available to and will only be engaged with, relevant persons. Any person who
is not a relevant person should not act or rely on this document or any of its
contents.
This communication is distributed in any member state of the European Economic
Area which applies Directive 2003/71/EC (this Directive together with any
implementing measures in any member state, the "Prospectus Directive") only to
those persons who are qualified investors for the purposes of the Prospectus
Directive in such member state, and such other persons as this document may be
addressed on legal grounds, and no person that is not a relevant person or
qualified investor may act or rely on this document or any of its contents.
This announcement does not constitute a prospectus and nothing herein contains
an offering of securities. No one should purchase or subscribe for any
securities in the Company, except on the basis of information in any prospectus
published by the Company in connection with the potential offering and admission
of such securities to trading and official listing on Oslo Børs. Copies of any
such offering memorandum will, following publication, be available from the
Company's registered office.
The Managers and their affiliates are acting exclusively for the Company and no
-one else in connection with the intended offering. They will not regard any
other person as their respective clients in relation to the intended offering
and will not be responsible to anyone other than the Company for providing the
protections afforded to their respective clients, nor for providing advice in
relation to the intended offering, the contents of this announcement or any
transaction, arrangement or other matter referred to herein.
In connection with the contemplated offering, the Managers and any of their
affiliates, acting as investors for their own accounts, may subscribe for or
purchase shares and in that capacity may retain, purchase, sell, offer to sell
or otherwise deal for their own accounts in such shares and other securities of
the Company or related investments in connection with the contemplated offering
or otherwise. Accordingly, references in the prospectus, if published, to the
shares being issued, offered, subscribed, acquired, placed or otherwise dealt in
should be read as including any issue or offer to, or subscription, acquisition,
placing or dealing by, such Managers and any of their affiliates acting as
investors for their own accounts. The Managers do not intend to disclose the
extent of any such investment or transactions otherwise than in accordance with
any legal or regulatory obligations to do so.
Solely for the purposes of the product governance requirements contained within:
(a) EU Directive 2014/65/EU on markets in financial instruments, as amended
("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU)
2017/593 supplementing MiFID II; and (c) local implementing measures (together,
the "MiFID II Product Governance Requirements"), and disclaiming all and any
liability, which any "manufacturer" (for the purposes of the MiFID II Product
Governance Requirements) may otherwise have with respect thereto, the Shares
have been subject to a product approval process, which has determined that they
each are: (i) compatible with an end target market of retail investors and
investors who meet the criteria of professional clients and eligible
counterparties, each as defined in MiFID II; and (ii) eligible for distribution
through all distribution channels as are permitted by MiFID II (the "Target
Market Assessment"). Notwithstanding the Target Market Assessment, distributors
should note that: the price of the Shares may decline and investors could lose
all or part of their investment; the Shares offer no guaranteed income and no
capital protection; and an investment in the Shares is compatible only with
investors who do not need a guaranteed income or capital protection, who (either
alone or in conjunction with an appropriate financial or other adviser) are
capable of evaluating the merits and risks of such an investment and who have
sufficient resources to be able to bear any losses that may result therefrom.
Conversely, an investment in the Shares is not compatible with investors looking
for full capital protection or full repayment of the amount invested or having
no risk tolerance, or investors requiring a fully guaranteed income or fully
predictable return profile.
The Target Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation to the
Offering.
For the avoidance of doubt, the Target Market Assessment does not constitute:
(a) an assessment of suitability or appropriateness for the purposes of MiFID
II; or (b) a recommendation to any investor or group of investors to invest in,
or purchase, or take any other action whatsoever with respect to the Shares.
Each distributor is responsible for undertaking its own Target Market Assessment
in respect of the Shares and determining appropriate distribution channels.
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements are statements that are not historical facts and that
can be identified by words such as "believe", "expect", "anticipate", "intends",
"estimate", "will", "may", "continue", "should", and similar expressions. The
forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
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 could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements.
The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice.