NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL.
Lysaker, 14 October 2020 - Reference is made to the stock exchange notice from
REC Silicon ASA (the "Company") on 14 October 2020 regarding the successful
completion of a private placement of 92,592,592 new shares in the Company (the
"Private Placement") and a potential subsequent offering at the same
subscription price as in the Private Placement (the "Subsequent Offering").
+---------------------------------------+--------------------------------------+
|Date on which the terms and conditions|14 October 2020 |
|of the potential Subsequent Offering| |
|were announced: | |
+---------------------------------------+--------------------------------------+
|Last day including right: |14 October 2020 |
+---------------------------------------+--------------------------------------+
|Ex-date |15 October 2020 |
+---------------------------------------+--------------------------------------+
|Record Date |16 October 2020 |
+---------------------------------------+--------------------------------------+
| |Currently not resolved (see "Other |
|Date of approval |information" below) |
+---------------------------------------+--------------------------------------+
|Maximum number of new shares: |18,518,518 new shares |
+---------------------------------------+--------------------------------------+
|Subscription price |NOK 10.80 per share |
+---------------------------------------+--------------------------------------+
Other information: The Subsequent Offering is subject to (a) completion of the
Private Placement, (b) approval of the authorization of the Board of Directors
for the Subsequent Offering by the Company's shareholders at the extraordinary
general meeting in the Company, and (c) the publication of a prospectus approved
by the Norwegian Financial Supervisory Authority. The board of directors may, in
its sole discretion, decide that the Company shall not carry out the Subsequent
Offering.
For further information, please contact:
James A. May II, Chief Financial Officer
Phone: +1 509 989 1023
Email: james.may@recsilicon.com (mailto:james.may@recsilicon.com)
Nils O. Kjerstad, IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no (mailto: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 over 30 years of experience and proprietary technology
with the needs of our customers, and 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 Lysaker,
Norway.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act