REC ASA: Start of subscription period in subseqent offering

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.

 Sandvika - Reference is made to the stock exchange announcements dated July 27, 2012 and August 14, 2012 and the prospectus dated July 27, 2012 (the "Prospectus") regarding, inter alia, the subsequent repair offering (the "Subsequent Offering") of minimum 1 and maximum 250,000,000 new shares (the "Offer Shares") in Renewable Energy Corporation ASA ("REC" or the "Company").



The subscription period for the Subsequent Offering commences today and will expire on September 3, 2012 at 16.30 hours (CET). The subscription price per Offer Share is NOK 1.50.



Existing shareholders in the Company as of July 3, 2012 (as registered in the Norwegian Central Securities Depository (the "VPS") as of July 6, 2012) (the "Record Date"), who were not invited to participate in the NOK 1,300 million private placement in the Company (the "Private Placement") completed on July 31, 2012, and who are not resident in a jurisdiction where an offering would be unlawful, or for jurisdictions other than Norway, would require any prospectus filing, registration or similar action (the "Eligible Shareholders") have received non-transferable subscription rights (the "Subscription Rights"), that, subject to applicable law, provide the right to subscribe for, and be allocated, Offer Shares in the Subsequent Offering. Each Eligible Shareholder has been granted 0.6295 Subscription Rights for each share in the Company registered as held by such Eligible Shareholder as of the Record Date (rounded down to the nearest whole Subscription Right). Each Subscription Right will, subject to applicable securities laws, give the right to subscribe for, and be allocated, one Offer Share in the Subsequent Offering. Over-subscription is allowed, but the Subsequent Offering will be limited to a maximum issue of 250 million Offer Shares. In the event not all issued Subscription Rights are exercised, Eligible Shareholders who have over-subscribed will be allocated additional Offer Shares proportionally to the number of Subscription Rights they have exercised. Subscription without Subscription Rights will not be allowed. Subscription rights not used to subscribe for Offer Shares prior to expiry of the subscription period will have no value and will lapse without compensation to the holder. The Subsequent Offering is further described in the Prospectus.



The Prospectus and the subscription form is available at www.recgroup.com/en/ir/refinancing/, www.arcticsec.no, www.dnb.no/emisjoner or www.nordea.no/rec or in hard copy by contacting Arctic Securities ASA, Haakon VIIs gate 5, P.O. Box 1833 Vika, N-0123 Oslo, Norway, Tel: +47 21 01 30 40.



The Subscription Rights can be exercised by duly completing and delivering the subscription form, in accordance with the terms and conditions set out in the Prospectus, to one of the following subscription offices:



Arctic Securities ASA

Haakon VIIs gate 5
P.O. Box 1833 Vika
N-0123 Oslo, Norway
Fax: +47 21 01 31 36
Tel: +47 21 01 30 40
www.arcticsec.no

DNB Markets
Registrars Department
Stranden 21
N-0021 Oslo, Norway
Fax: +47 22 48 29 80
Tel: +47 23 26 81 01
www.dnb.no/emisjoner


Nordea Bank Norge ASA
Securities Services - Issuer Services
P.O. Box 1166 Sentrum

N-0107 Oslo, Norway
Fax: +47 22 48 63 49
Tel: +47 22 48 62 62
www.nordea.no/rec



Residents of Norway with a Norwegian personal identification number can subscribe for Offer Shares online by accessing one of the web pages above.



Arctic Securities ASA (Coordinator), DNB Markets, a part of DNB Bank ASA and Nordea Markets, a part of Nordea Bank Norge ASA, are acting as joint lead managers and bookrunners for the Subsequent Offering (collectively, the "Managers").



Any questions or requests for assistance concerning the Subsequent Offering should be directed to one of the subscription offices mentioned above.



For further information, please contact:



Mikkel Tørud, VP & IRO, phone: +47 976 99 144



Important notice


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.


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.

Source: Renewable Energy Corporation ASA /XOSL: REC /ISIN: NO0010112675