18 November, 2015
Reference is made to the stock exchange release dated
17 November 2015 regarding a contemplated sale of
shares in Scatec Solar ASA ("Scatec Solar" or
the "Company") from Scatec AS ("Scatec") and Itochu
Corporation ("Itochu") (the "Placing").
The Placing, which was completed after close of
markets yesterday through an accelerated bookbuilding
process managed by ABG Sundal Collier, Carnegie and
Swedbank, comprised a total of 16,000,000 shares in
Scatec Solar and was priced at NOK 42.00 per share.
Scatec sold 8,000,000 shares in the Placing, and as a
result Scatec now holds 19,482,339 shares in Scatec
Solar, representing approximately 20.8 percent of the
outstanding shares in the Company. As a consequence of
the transaction, Scatec's holding of Scatec Solar
shares has fallen below the threshold of 25 percent of
the outstanding share capital, cf. the Securities
Trading Act section 4-3.
Itochu sold 8,000,000 shares in the Placing, and as a
result Itochu now holds 9,768,657 shares in Scatec
Solar, representing approximately 10.4 percent of the
outstanding shares in the Company. As a consequence of
the transaction, Itochu's holding of Scatec Solar
shares has fallen below the threshold of 15 percent of
the outstanding share capital, cf. the Securities
Trading Act section 4-3.
The percentages have been calculated based on
93,816,230 issued shares in Scatec Solar.
Scatec is represented on the Board of Directors in the
Company (the "Board") by John Andersen (Chairman) and
Alf Bjørseth, while Itochu is represented on the Board
by Yuji Tachikawa.
This notification is subject to disclosure pursuant to
the Norwegian Securities Trading Act section 4-2 and
4-3.