NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR SWITZERLAND, OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
Sandvika, October 21, 2013: Reference is made to prior stock exchange announcements regarding the offering and listing on Oslo Børs, of 40 million shares in REC Solar ASA at a subscription price of NOK 20 per share. The subscription period for the offering expired on October 18, 2013 at 16:30 hours (CET). Approximately 36,630,795 offer shares were subscribed for through utilising subscription rights, while 3,369,205 offer shares will be allocated to the underwriting consortium.
Notice of allocation of offer shares and the corresponding amount to be paid by each subscriber will be sent to the subscribers on October 21, 2013 (today). Payment for the allocated offer shares falls due on October 23, 2013, and all subscribers allotted offer shares must immediately ensure that sufficient funds are available in the bank account stated in the subscription form. Following the registration of the share capital increase pertaining to the offering with the Norwegian Register of Business Enterprises, REC Solar ASA's share capital will be NOK 40 million, divided into 40 million shares, each with a nominal value of NOK 1.00. The offer shares are expected to commence trading on Oslo Børs on or about October 25, 2013. The offer shares may not be transferred or traded until they are fully paid by the individual subscriber.
For further details regarding the offering, reference is made to the prospectus.
The table below gives an overview of the allocation to primary insiders in REC Solar ASA.
| Name of primary insider || Shares subscribed for and allocated in REC Solar ASA |
| Kjell Christian Bjørnsen || 103 |
| Mimi K. Berdal || 2,068 |
| Ole Enger || 1,430 |
| Øyvind Hasaas || 190 |
| Kristin Meyer Jacobsen || 47 |
| Florian Krumbacher || 70 |
| Jan Christian Opsahl || 225,862 |
| Mikkel Tørud || 149 |
| Patrick Thong || 103 |
| Ragnhild Wiborg || 172 |
Arctic Securities ASA acted as sole lead manager for the offering.
For further information, please contact Arctic Securities ASA, Haakon VIIs gate 5, Postboks 1833 Vika, N-0123 Oslo, Norge, Fax: +47 21 01 31 36, Tel: +47 21 01 30 40, E-mail: email@example.com
This announcement is not an offer for sale of securities in the United States or any other country in which such offer would be unlawful or would require a prospectus, registration or other measures. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. REC does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Hong Kong, Japan or Switzerland, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world's growing electricity needs. Our 2,300 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion. To see more of what REC can offer, visit www.recgroup.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.