REC Silicon - Completion of share capital reduction, conversion of Class A shares, new share capital

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Fornebu, Norway 3 July 2019: Reference is made to the resolution by the annual general meeting of REC Silicon ASA on 9 May 2019, whereby it was i.a. resolved to reduce the share capital through reduction of par value and to issue 25,438,187 new Class A shares to Umoe AS, the Class A shares being convertible to 254,381,870 ordinary shares upon completion of the share capital reduction.

The share capital reduction and the conversion of the Class A Shares are now completed and registered with the Norwegian Register of Business Enterprises. Consequently, the new share capital of the Company is NOK 279,820,065.50 divided on 2,798,200,655 ordinary shares, each with a par value of NOK 0.10. Umoe AS owns 642,221,509 shares in REC Silicon ASA, approx. 23% of the outstanding shares and votes.

For further information, please contact:
James A. May II, Chief Financial Officer
Phone: +1 509 989 1023

Nils O. Kjerstad IR Contact
Phone: +47 9135 6659

About REC Silicon:
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 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: REC), the company is headquartered in Fornebu, Norway.

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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.