Reference is made to notices dated 31/03/2017, 20/04/2017 and
24/04/2017 with information related to the proposal for a rights
offering, which is on the agenda for the Annual General Meeting on
11/05/2017.
The Company has entered into agreements with Aconcagua Management
Ltd., Banan II AS, Aukner Holding AS and Strategic Investments A/S,
companies controlled by Morten E. Astrup, Stein Aukner and Kim
Mikkelsen respectively (all board members), as well as Pactum AS,
which imply that they shall subscribe their relative share of the
Rights Offering, however so that Aconcagua Management Ltd in
addition has guaranteed the subscription of the relative share of
the Rights Offering of an additional 178.060 shares.
This implies that the Company has entered into agreements securing
subscriptions for approximately 48.17% of the proposed Rights
Offering of NOK 28 million. The guarantee obligation equals in total
NOK 13 486 753.60 and this amount will thus be the minimum
subscription amount in the Rights Offering, equal to a minimum share
capital increase of NOK 1 078 905.20 and maximum NOK 28 000 000.
No guarantee consideration shall be paid.
The subscription price has not been determined in connection with
the entering into of the guarantee agreement, which implies that the
Board's proposal for an authorisation to determine the subscription
price between NOK 0.40 and NOK 5 still applies. The subscription
price will be determined prior to the share being listed exclusive
of the right to participate in the rights offering.
For further information, please contact:
Einar Pedersen
Tel: +44 207 409 3369
Email: einar@stormcapital.co.uk
Morten E. Astrup
Tel: +44 777 8888 0000
Email: morten@stormcapital.co.uk