Arendal, 9 December 2022; Reference is made to the stock exchange notice by
Norse Atlantic ASA (the "Company") on 25 November 2022 regarding the completion
of a conditional private placement of 120,000,000 new shares in the Company (the
"Offer Shares" and the "Private Placement"), and a conditional private placement
of 8,400,000 new shares in the Company (the "UWC Shares") as settlement of an
underwriting commission to the underwriters of the Private Placement. The
subscription price per Offer Share and UWC Share was NOK 2.50 (the "Offer
Price").
Following approval by the extraordinary general meeting of the Company on 9
December 2022 of, amongst others, the Private Placement and the issuance of UWC
shares, the following persons discharging managerial responsibilities and their
close associates have been allocated and subscribed for Offer Shares and UWC
Shares at the Offer Price:
· BT Larsen & Co Ltd (the largest shareholder and close associate of the
Company's CEO and primary insider Bjørn Tore Larsen) has subscribed for
37,208,000 Offer Shares and 5,684,000 UWC Shares. Following such issuances, BT
Larsen & Co Ltd will hold a total of 52,850,311 shares in the Company.
· Observatoriet Invest AS (a close associate of board member and primary
insider Bjørn Kjos) has subscribed for 2,000,000 Offer Shares and 140,000 UWC
Shares. Following such issuances, Observatorie Invest AS will hold a total of
2,140,000 shares in the Company, and together with Observatoriet Holding AS
(also a close associate of Bjørn Kjos), close associates of Bjørn Kjos holds an
aggregate of 2,640,000 shares in the Company.
· GS Consulting AS (a close associate of the Company's Chief Technology
Officer and primary insider Gisle Stavland) has subscribed for 400,000 Offer
Shares. Following such issuance, GS Consulting AS will hold a total of 400,000
shares in the Company.
· Alltid Alt AS (a close associate of the Company's Chief Cultural Officer and
primary insider Kristin Berthelsen) has subscribed for 360,000 Offer Shares.
Following such issuance, Alltid Alt AS will hold a total of 360,000 shares in
the Company.
· Bosel AS (a close associate of the Company's Chief Financial Officer and
primary insider Ben Boiling) has subscribed for 40,000 Offer Shares. Following
such issuance, Bosel AS will hold a total of 85,000 shares in the Company.
· Yngve Carlsen (SVP Cargo/Charter & new projects and primary insider) has
subscribed for 40,000 Offer Shares. Following such issuance, Yngve Carlsen will
hold a total of 40,000 shares in the Company.
Please see the enclosed forms for further details about the transactions.
This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act.
About Norse
Norse Atlantic Airways is a new airline that offers affordable fares on long
-haul flights, primarily between Europe and the United States. The company was
founded by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has
a fleet of 15 modern, fuel-efficient and more environmentally friendly Boeing
787 Dreamliners that will serve destinations including New York, Los Angeles,
Fort Lauderdale, Orlando, Oslo, London, Berlin and Paris. The company's first
flight took off from Oslo to New York on June 14, 2022.