REC ASA - Rights issue oversubscribed>
REC ASA - Rights issue oversubscribed
(Thomson Reuters ONE) - Sandvika, July 14, 2009. Preliminary counts indicate that RECreceived subscriptions for a total of approx. 269 million new shares.170,453,354 new shares were offered. Thus, the rights issue wasoversubscribed by close to 60 percent.Reference is made to the prospectus dated June 23, 2009 regarding thefully underwritten rights issue of 170,453,354 new shares in REC at asubscription price of NOK 26.50 per new share, with subscriptionrights for existing shareholders as of the end of June 22, 2009.The subscription period in the rights issue expired yesterday, July13, 2009 at 17:30 (Oslo time). By the end of the subscription period,preliminary counts indicate that REC had received subscriptions for atotal of approx. 269 million new shares. 170,453,354 new shares wereoffered.Allocation of shares to the subscribers is expected to be resolved bythe board of directors of REC on or about July 17, 2009 in accordancewith the allocation criteria set out in the prospectus. The finalresult of the rights issue is expected to be published through OsloBørs' information system on or about July 17, 2009 and notificationsof allocated new shares and the corresponding subscription amount tobe paid by each subscriber are expected to be distributed in lettersfrom VPS on or about the same date.The payment for the new shares falls due on July 21, 2009 inaccordance with the payment procedures described in the prospectus.Through the rights issue REC will receive proceeds amounting toapproximately NOK 4,517 million before transaction costs.It is expected that the share capital increase pertaining to the newshares will be registered in the Norwegian Register of BusinessEnterprises on or about July 23, 2009 and that the new shares will bedelivered to the subscribers' VPS accounts on or about July 24, 2009.The share capital of REC will, as a consequence of the rights issue,be increased with NOK 170,453,354 by issue of 170,453,354 new shares.Following registration of the share capital increase, the Company'sshare capital will be NOK 664,768,079 divided into 664,768,079shares.For the rights issue, DnB NOR Markets acted as Global Coordinator andJoint Bookrunner, and ABN AMRO, BNP Paribas and Nordea Markets actedas Joint Lead Managers and Joint Bookrunners.For more information, please contact;Jon André Løkke, SVP & Investor Relation Officer, +47 907 44 949About RECREC is the leading vertically integrated player in the solar energyindustry. REC Silicon and REC Wafer are among the world's largestproducers of polysilicon and wafers for solar applications, and RECSolar is a rapidly growing manufacturer of solar cells and modules.REC Group had revenues of NOK 8,191 million and an operating profitof NOK 2,529 million in 2008. About 2,500 employees work in REC'sworldwide organization. Please also see www.recgroup.com. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PARTDIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES:This press release does not constitute or form part of an offer orsolicitation to purchase or subscribe for securities in the UnitedStates. The securities referred to herein may not be offered or soldin the United States absent registration or an exemption fromregistration as provided in the U.S. Securities Act of 1933, asamended. The Company does not intend to register any portion of theoffering of the securities in the United States or to conduct apublic offering of the securities in the United States. Copies ofthis announcement are not being made and may not be distributed orsent into the United States, Australia, Canada, Hong Kong or Japan.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 14.07.2009 - 07:00 Uhr
Sprache: Deutsch
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