Further to the ongoing subscription period in the Renewable Energy Corporation ASA ("REC") rights issue the following primary insider transactions have been undertaken on May 11, 2010:
Primary insider Tore Schiøtz (Board member in REC ASA) and related parties have purchased 48,812 shares in REC at an average price of NOK 17.71 per share. Mr. Schiøtz and related parties were allocated 169,724 subscription rights, and has subscribed to 220,000 new shares. After these transactions, if no shares are allocated due to oversubscription, Mr Schiøtz and related parties will hold 557,984 shares in REC.
REC is a leading vertically integrated player in the solar energy industry. REC is among the world's largest producers of polysilicon and wafers for solar applications, and a rapidly growing manufacturer of solar cells and modules. REC is also engaged in project development activities in selected PV segments. Founded in Norway, REC is an international solar company, employing more than 3,000 people worldwide. REC had revenues in excess of NOK 9 billion in 2009. Please visit www.recgroup.com to learn more about REC.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)