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(Oslo, 7 April 2020) Reference is made to the stock exchange announcement by Nel ASA ("Nel" or the "Company") on 31 March 2020, regarding the commencement of a subsequent offering of up to 13,350,000 new shares (the "Offer Shares") (the "Subsequent Offering").
The Subsequent Offering expired today, 7 April 2020, at 16:30 hours (CEST). The Company has received subscriptions for 25,720,111 Offer Shares from eligible shareholders in the Subsequent Offering and the Subsequent Offering has accordingly been significantly oversubscribed.
The Company's board of directors will resolve the allocation of the subscribed Offer Shares amongst the subscribers based on the allocation criteria set out in the Company's prospectus dated 30 March 2020 (the "Prospectus") tomorrow morning, 8 April 2019.
Notifications of allocated Offer Shares and the corresponding subscription amount to be paid by each subscriber are expected to be distributed following the allocation tomorrow morning. Payment for the allocated shares falls due on 15 April 2020 in accordance with the payment procedures described in the Prospectus.
Subject to timely payment of the entire subscription amount in the Subsequent Offering, the Company expects that the share capital increase pertaining to the Subsequent Offering will be registered with the Norwegian Register of Business Enterprises on or about 20 April 2020 and that the New Shares will be delivered to the Norwegian Central Securities Depository ("VPS") accounts of the subscribers to whom they are allocated on or about 21 April 2020. The New Shares will be tradable immediately after the registration of the share capital with the Norwegian Register of Business Enterprises.
Following the issuance of the Offer Shares, the issued share capital of the Company will be NOK 264,986,956.60, divided into 1,324,934,783 shares, each with a par value of NOK 0.20 (subject to allocation and payment for all the subscribed Offer Shares).
The following primary insider (or related parties thereof) of the Company has subscribed for Offer Shares:
- Bjørn Simonsen, VP Investor Relations and Corporate Communications, has subscribed for 23,396 Offer Shares through Simonsen Invest AS
Arctic Securities AS, Carnegie AS and SpareBank 1 Markets AS act as managers in the Subsequent Offering (the "Managers"). Advokatfirmaet Schjødt AS acts as Norwegian legal counsel to Nel.
