NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO
Reference is made to the stock exchange announcement by
The Private Placement was multiple times over-subscribed and attracted significant interest from leading domestic, Nordic and international institutional investors including DNB Asset Management, Folketrygdfondet (The Government Pension Fund Norway), Handelsbanken Fonder and
The Private Placement consisted of 118,571,428 new shares (the "New Shares") at
The Additional Shares will be settled by existing shares borrowed from
The net proceeds from the Private Placement and the Convertible Bond Issue will be used to partially fund the acquisition of
In connection with the Private Placement, certain of the Company's employees were also offered to subscribe for new shares in the Company (the "Employee Offering" and together with the Private Placement, the "Offering"). A total of 322,088 new shares were subscribed and allocated in the Employee Offering (the "Employee Shares", and together with the New Shares, the "Offer Shares") at the Offer Price, less a 25 percent discount due to lock-up restrictions. Furthermore, as part of an incentive program for leading employees in the Company carried out in conjunction with the Private Placement, certain leading employees in the Company have subscribed for shares in the Company's wholly owned subsidiary, Aker Horizons Holding AS, which may be exchanged into shares in the Company after expiry of a three year lock-up period, or sold to the Company for the corresponding cash value (the "Incentive Program").
Following completion of the Offering, the Company will have 568,893,516 shares, each with a nominal value of
The allocation of the Private Placement Shares and the Employee Shares and the issue of the Offer Shares have been resolved by the Company's Board of Directors and general meeting, respectively. The completion of the Private Placement by delivery of the Private Placement Shares is subject to: (i) the registration of the share capital increase in the Company pertaining to the New Shares in the
The Company's shares are expected to commence trading on Euronext Growth Oslo, a multilateral trading facility, on or about
The following primary insiders were allocated shares in the Private Placement at the Offer Price:
· Øyvind Eriksen (President & CEO), through his wholly owned subsidiary Erøy AS, was allocated 285,714 Private Placement Shares
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· Torbjørn Kjus (Chief Economist) was allocated 59,651 Private Placement Shares
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Additionally, the following primary insiders of the Company have subscribed for shares in the Employee Offering and/or the Incentive Program:
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· Karl-Petter Løken (Investment Director) has subscribed for shares in the Incentive Program that may be exchanged into 47,619 shares in the Company. He has also subscribed for 11,714 Employee Shares in the Employee Offering.
· Ola Beinnes Fosse (Acting CFO), has subscribed for 11,714 Employee Shares in the Employee Offering.
· Frode Strømø (General Counsel) has subscribed for 17,428 Employee Shares in the Employee Offering.
The Stabilization Manager, on behalf of the Managers, may carry out stabilization activities during the period commencing on the first day of trading of the Company's shares (the "Shares") on Euronext Growth Oslo and ending at the close of trading on the 30th calendar day following such day. Any stabilization activities will be conducted based on the same principles as set out in Section 3-12 of the Norwegian Securities Trading Act section 3-12 and the EC Commission Regulation 2273/2003 regarding buy-back programmes and stabilization of financial instruments, as well as, to the extent applicable, article 5(4) of the EU Market Abuse Regulation and chapter III of the supplemental rules set out in the Commission Delegated (EU) 2016/1052 of
For further information, please contact:
Tel: +47 90784878
Email: atle.kigen@akerasa.com
Tel: +47 90532774
Email: christina.glenn@akerasa.com
Tel: +47 46402317
Email: ivar.simensen@akerhorizons.com
Important Notice
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Aker believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. Aker undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.
This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of Aker. Neither the Company,
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
https://news.cision.com/aker-asa/r/aker-asa-aker-horizons---private-placement-and-convertible-bond-issue-successfully-placed,c3275372
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