NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Reference is made to the previous announcements by Norwegian Energy Company ASA (the "Company") regarding the subsequent offering of minimum 1,326,486 new shares and maximum 1,768,648 new shares in the Company at a subscription price of NOK 185 per new share (the "Subsequent Offering").
The subscription period for the Subsequent Offering expired today on 23 August 2019 at 16:30 hours CEST.
Preliminary counting indicates that the Company has received subscriptions for approximately 3.52 million new shares in the Subsequent Offering. The preliminary counting consequently indicates an oversubscription of approximately 99% of the maximum number of new shares to be issued in the Subsequent Offering.
The final allocation of the new shares in the Subsequent Offering will take place on 28 August 2019 in accordance with the allocation criteria set out in the prospectus dated 9 August 2019. The final result of the Subsequent Offering will be published shortly thereafter, and letters regarding allocation of new shares and the corresponding subscription amount to be paid by each subscriber, are expected to be distributed on 28 August 2019.
The payment date of the new shares in the Subsequent Offering is 30 August 2019.
ABG Sundal Collier ASA and Arctic Securities AS act as joint lead managers, and Advokatfirmaet BAHR AS acts as legal advisor, to Noreco in the Subsequent Offering.