Fornebu, Norway 9 July 2019. Reference is made to the resolution by the annual
general meeting of REC Silicon ASA on 9 May 2019, whereby it was resolved to
issue 5 new shares to Umoe AS at a subscription price equal to par value. The
issuance of 5 new shares has been registered with the Norwegian Register of
Business Enterprises. Following registration, the share capital of REC Silicon
ASA is NOK 279,820,066 divided on 2,798,200,660 shares, each with a par value of
NOK 0.10. Each share represents one vote in the company's general meeting. After
issuance of the new shares, Umoe AS owns 642,221,514 shares in REC Silicon ASA.
The share capital increase is made to facilitate the reverse share split
resolved by the extraordinary general meeting on 9 May 2019. Pursuant to the
general meeting's resolution, the Company's shares shall be combined in a ratio
of 10:1, whereby 10 old shares will give 1 new share. The company will move
forward with implementation of the reverse split and issue a separate
announcement regarding time of implementation and other key information, in
accordance with the Continuing Obligations of the Oslo Stock Exchange.
For further information, please contact:
James A. May II, Chief Financial Officer
Phone: +1 509 989 1023
Email: james.may@recsilicon.com
Nils O. Kjerstad IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no
About REC Silicon:
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity polysilicon and silicon gas to the solar and electronics industries
worldwide. We combine 30 years of experience and proprietary technology with the
needs of our customers, with annual production capacity of more than 20,000 MT
of polysilicon from our two US-based manufacturing plants. Listed on the Oslo
Stock Exchange (ticker: REC), the company is headquartered in Fornebu, Norway.
For more information, go to: www.recsilicon.com.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
?