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, 1 December 2020
Reference is made to the stock exchange announcements by REC Silicon ASA (the
"Company") on 14 October 2020 and 15 October 2020 regarding the successful
completion of a private placement raising gross proceeds of approximately NOK
1,000 million (the "Private Placement") and a potential subsequent offering (the
"Subsequent Offering") of up to 18,518,518 new shares directed towards
shareholders of the Company as of 14 October 2020 who were not allocated shares
in the Private Placement.
The Company has decided not to initiate the Subsequent Offering.
The background for the cancellation is that the Company's shares have over time
traded on the Oslo Stock Exchange, with significant trading volume, at prices
below the subscription price in the Private Placement of NOK 10.80. Accordingly,
shareholders wishing to neutralize the dilutive effect of the Private Placement
have had the opportunity to purchase shares in the Company in the open market,
at prices below what would have been the subscription price in 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
Nils O. Kjerstad
IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no
About the Company:
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, 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: RECSI), the Company is headquartered in
Lysaker, Norway. For more information, please visit: www.recsilicon.com.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.