Oslo, Norway, 6 February 2024: Reference is made to the stock exchange announcement published by Norsk Titanium AS (the "Company") earlier today, 6 February 2024, regarding the commencement of the subscription period in the partially underwritten rights issue (the "Rights Issue"). As part of this process, subscription rights have been allocated to primary insiders and their close associates without any consideration.
The following subscription rights in the Company have been allocated to primary insiders of the Company on 6 February 2024:
• 72,064 subscription rights have been allocated to Carl Johnson, Chief Executive Officer and President
• 62,525 subscription rights have been allocated to, Ashar Ashary, Chief Financial Officer
• 56,460 subscription rights have been allocated to Gail Balcerzak, Chief Legal and People Officer
• 49,254 subscription rights have been allocated to Nicholas Mayer, Vice President, Commercial
• 39,709 subscription rights have been allocated to Odd Terje Lium, Vice President, Engineering
• 34,979 subscription rights have been allocated to Stephen Eaton, Vice President, Operations
• 97,522 subscription rights have been allocated to Khazeem Adesokan, Vice President, Quality
• 16,162 subscription rights have been allocated to Anne Lene Gullen Bråten, Director Finance
• 220,619 subscription rights have been allocated to Shan-E-Abbas-Ashary, Board Member
• 583,724 subscription rights have been allocated to Bart Cornelus Gerardus van Aalst, Board Member
Furthermore, subscription rights have been allocated to companies closely associated with primary insiders of the Company.
Norsk Titanium Cayman Ltd., a company closely associated with Shan E-Abbas Ashary and Bart Van Aalst, who are both board members of Norsk Titanium Cayman Ltd. and board members of the Company. Norsk Titanium Cayman Ltd. has on 6 February 2024 been allocated 18,074,281 subscription rights in the Company with no price payable.
Scatec Innovation AS, a company closely associated with John Andersen, who is the chairman of the Company's board of directors and also the CEO of Scatec Innovation AS, has on 6 February 2024 been allocated 69,479,359 subscription rights in the Company with no price payable.
Please see the attached notifications of trade for information regarding the primary insiders' and their close associates' receipt of subscription rights in the Rights Issue.
This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
For more information, please contact:
John Andersen, Chairman of Norsk Titanium AS
Email: John.Andersen@scatec.no
Tel: +47 90 17 40 80
Carl Johnson, President & CEO Norsk Titanium AS
Email: Carl.Johnson@norsktitanium.com
Tel: +1 518 324 4010
Ashar Ashary, CFO Norsk Titanium AS
Email: Ashar.Ashary@norsktitanium.com
Tel: +1 518 556 8966