NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL.
Nel ASA: Preliminary result of the Subsequent Offering
(Oslo, 18 September 2018) Reference is made to the stock exchange announcement
from Nel ASA ("Nel" or the "Company") published on 5 September 2018 regarding
the commencement of the subsequent offering of up to 15,000,000 new shares (the
"Offer Shares") in the Company at a subscription price of NOK 3.12 per share
(the "Subsequent Offering").
The subscription period ended today on 18 September 2018 at 16:30 hours (CET). A
preliminary counting indicates that the Company has received subscriptions for
approximately 69.7 million
Offer Shares in the Subsequent Offering.
The allocation of the Offer Shares in the Subsequent Offering is expected to be
resolved by the Company on or about 18 September 2018, in accordance with the
allocation criteria set out in the Company's prospectus dated 4 September 2018.
The final result of the Subsequent Offering will be published shortly
thereafter, and subscribers who are allocated Offer Shares will receive a letter
with the number of allocated Offer Shares and the corresponding subscription
amount to be paid by each of the subscribers. The due date for payment of
allocated Offer Shares is 21 September 2018. The shares are expected to be
delivered and listed on or about 26 September 2018 following the registration of
the share capital with the Norwegian Register of Business Enterprises.
The following primary insiders (or related parties thereof) of the Company have
subscribed for shares in the Subsequent Offering:
Hanne Skaarberg Holen, Chair of the Board, has subscribed for 4,966 Offer
Shares.
Ole Enger, member of the Board, has subscribed for 15,000 Offer Shares.
Finn Jebsen, member of the Board, through Fateburet AS has subscribed for 30,000
Offer Shares.
Arctic Securities and Carnegie acted as managers in the Subsequent Offering.
Advokatfirmaet Schjødt AS acted as Norwegian legal counsel to the Company.
ENDS
For additional information, please contact:
Jon André Løkke, CEO, +47 9074 4949
Bent Skisaker, CFO, +47 468 21 693
About Nel | www.nelhydrogen.com
Nel is a global, dedicated hydrogen company, delivering optimal solutions to
produce, store and distribute hydrogen from renewable energy. We serve
industries, energy and gas companies with leading hydrogen technology. Since its
foundation in 1927, Nel has a proud history of development and continual
improvement of hydrogen plants. Our hydrogen solutions cover the entire value
chain from hydrogen production technologies to manufacturing of hydrogen fueling
stations, providing all fuel cell electric vehicles with the same fast fueling
and long range as conventional vehicles today.
Important information:
The release is not for publication or distribution, in whole or in part directly
or indirectly, in or into Australia, Canada, Japan or the United States
(including its territories and possessions, any state of the United States and
the District of Columbia).
This release is an announcement issued pursuant to legal information
obligations, and is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act. It is issued for information
purposes only, and does not constitute or form part of any offer or solicitation
to purchase or subscribe for securities, in the United States or in any other
jurisdiction. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933, as amended (the
"Securities Act"). The securities may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of the
Securities Act. The Company does not intend to register any portion of the
offering of the securities in the United States or to conduct a public offering
of the securities in the United States. Copies of this announcement are not
being made and may not be distributed or sent into Australia, Canada, Japan or
the United States. The issue, exercise, purchase or sale of subscription rights
and the subscription or purchase of shares in the Company are subject to
specific legal or regulatory restrictions in certain jurisdictions. Neither the
Company nor the Managers assume any responsibility in the event there is a
violation by any person of such restrictions.
The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform themselves
about and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such
jurisdiction. Carnegie is acting for the Company and no one else in connection
with the Private Placement and will not be responsible to anyone other than the
Company for providing the protections afforded to their respective clients or
for providing advice in relation to the Private Placement and/or any other
matter referred to in this release.