REC ASA - Final results of the rights issue>
REC ASA - Final results of the rights issue
(Thomson Reuters ONE) - Sandvika, July 17, 2009. The final result of the rights issue showsthat REC received subscription for a total of 269,474,606 new shares,170,453,354 new shares were offered. Thus, the rights issue wasoversubscribed by close to 60 percent.Reference is made to the notice published on July 14, 2009 followingthe expiration of the subscription period in the fully underwrittenrights issue.REC has today, July 17, 2009, resolved allocation of the new sharesto be issued in the rights issue. By the end of the subscriptionperiod, REC had received subscriptions for a total of 269,474,606 newshares. Major existing shareholders being part of the underwritingagreement have subscribed for a total of approximately 101 millionnew shares according to their underwriting obligation. 170,453,354new shares were offered. The rights issue was oversubscribed by closeto 60 percent and consequently the underwriting commitments were notutilised.Approximately 99 percent (approximately 168.8 million shares) of theoffered shares, were subscribed for by utilising subscription rights.Approximately 59 percent (approximately 100.7 million shares) of theoffered shares were oversubscribed or subscribed for withoutsubscription rights.Based on the allocation principles described in the prospectus datedJune 23, 2009, approximately 168.8 million new shares were allocatedto subscribers according to held subscription rights. Approximately1.7 million new shares were allocated to holders of subscriptionrights that oversubscribed. No allocation was made to subscriberswithout subscription rights.Notifications of allocated new shares and the correspondingsubscription amount to be paid by each subscriber are expected to bedistributed in letters from VPS today, July 17, 2009.Through the rights issue, REC will receive proceeds amounting toapproximately NOK 4,517 million before transaction costs.The payment for the new shares falls due on July 21, 2009 inaccordance with the payment procedures described in the prospectus.The new shares may not be transferred or traded before they are fullypaid and the share capital increases have been registered with theNorwegian Register of Business Enterprises and the new sharesregistered in the VPS. It is expected that the share capital increasepertaining to the new shares will be registered in the NorwegianRegister of Business Enterprises on or about July 23, 2009 and thatthe new shares will be delivered to the subscribers' VPS accounts onor about July 24, 2009.The share capital of REC will as a consequence of the rights issue beincreased 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.About 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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" alt="Result of AGM>">
" alt="Rule 8.3 AXA IM UK LTD: VENTURE PRODUCTION Plc>">Datum: 17.07.2009 - 10:27 Uhr
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