REC - successful completion of CB repurchase offer and private placement
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES
Sandvika, 15 May 2013: Reference is made to Renewable Energy Company ASA's (the
"Company") announcement on 14 May 2013 regarding a CB Repurchase Offer and
Private Placement (as defined therein).
The acceptances received in the CB Repurchase Offer substantially exceeded the
defined maximum nominal amount of EUR 160 million, and the Private Placement of
up to 200 million new shares was significantly oversubscribed. The board of
directors of the Company has thus resolved to complete:
* The CB Repurchase Offer for 3,195 Convertible Bond Units with an aggregate
nominal amount of EUR 159.75 million with a total cash payment of
approximately NOK 779 million and issuance of REC02 and REC03 bonds for an
aggregate nominal amount of NOK 426 million (NOK 213 million each);
* The Private Placement with issuance of 200 million new shares at a price of
NOK 1.86 per share allocated to subscribers including holders of Convertible
Bond Units, existing shareholders and other investors, with gross proceeds
of NOK 372 million.
The holders of Convertible Bond Units participating in the CB Repurchase Offer
and subscribers participating in the Private Placement will be notified of their
allocation today.
Please see attached presentation with a brief summary of the transaction and
debt maturity profile pro-forma post transaction.
Arctic Securities ASA acted as financial advisor and manager of the CB
Repurchase Offer and the Private Placement.
For further information, please contact:
Mikkel Tørud,
SVP Investor Relations & Business Development, REC
Telephone: +47 976 99 144
Email: mikkel.torud(at)recgroup.com
****
This press release does not constitute or form part of an offer or solicitation
to sell, purchase or subscribe for securities in the United States. The
securities referred to herein may not be offered or sold in the United States
absent registration or an exemption from registration as provided in the U.S.
Securities Act of 1933, as amended. The Company does not intend to register any
portion of the offering of any securities in the United States or to conduct a
public offering of any securities in the United States. Copies of this
announcement are not being made and may not be distributed or sent into the
Australia, Canada, Japan or the United States.
Certain statements contained herein that are not statements of historical fact,
may constitute forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties and other factors that could cause the
actual results or events concerning the Company to be materially different from
the historical results or from any future results expressed or implied by such
forward-looking statements. Although the Company has attempted to identify
important factors that could cause actual events or results to differ from those
described in forward-looking statements contained herein, there can be no
assurance that the forward-looking statements will prove to be accurate as
actual future events could differ materially from those anticipated in such
statements. Except as may be required by applicable law or stock exchange
regulation, the Company undertakes no obligation to update publicly or release
any revisions to these forward-looking statements to reflect events or
circumstances after the date of this release or to reflect the occurrence of
unanticipated events.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
About REC
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 2,200 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.
Transaction summary:
http://hugin.info/136555/R/1701905/562136.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Renewable Energy Corporation ASA via Thomson Reuters ONE
[HUG#1701905]
Unternehmensinformation / Kurzprofil:
Datum: 15.05.2013 - 08:13 Uhr
Sprache: Deutsch
News-ID 260150
Anzahl Zeichen: 5705
contact information:
Town:
Sandvika
Kategorie:
Business News
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