NPRO - Conditional completion of Subsequent Offering
(Thomson Reuters ONE) - Reference is made to the prospectus dated 10 August 2009 regardingthe subsequent offering of up to 50,000,000 subsequent offeringshares to a price of NOK 6.00 per share, constituting gross proceedsof up to NOK 300,000,000 (the "Subsequent Offering").After the expiry of the subscription period at 17:30 hours CET on 24August 2009, Norwegian Property has received subscriptions for atotal of 451,977,217 Subsequent Offering Shares, equalling approx.NOK 2.7 billion. The offering was over nine times oversubscribed.Conditional allocation will be made by the Board of Directors ofNorwegian Property today, after the close of Oslo Stock Exchange. Allsubscribers being allotted Subsequent Offering Shares will receive aletter from the VPS confirming the number of Subsequent OfferingShares allotted to the Subscriber and the corresponding amount to bepaid. This letter is expected to be mailed on 26 August 2009. Debitof the subscriber's bank accounts will take place on 1 September, anddelivery of the allocated shares is expected to take place on orabout 7 September 2009.Please note that the subscription level may be altered due topossible corrections.The Subsequent Offering is conditional upon completion of the PrivatePlacement. Completion of the Private Placement is conditional uponthe share capital reduction having been registered as effective, andthat such registration, and the registration of the PrivatePlacement, has been made in the Norwegian Register of BusinessEnterprises on or before 30 September 2009. If the Private Placementhas not been registered the Norwegian Register of BusinessEnterprises on or before 30 September 2009, the Private Placement andthe Subsequent Offering will be cancelled and any proceeds paid tothe Company in relation to the Subsequent Offering will be repaid tothe investors from the escrow account, including accrued interests.The creditor notice period for the share capital reduction is endingtoday, on 25 August 2009. The Company will issue a press releasecontaining information of the registration of the share capitalreduction in the Norwegian Register of Business Enterprises as soonas this is being effective.For further information, please contactMari Thjømøe, CFO, tel. +47 90 777 824Sigmund Sletvold, IRO, tel. +47 97 743 143Important NoticesNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,IN THE UNITED STATES, OR IN ANY OTHER JURISDICTION IN WHICH OFFERS ORSALES WOULD BE PROHIBITED BY APPLICABLE LAW.The contents of this announcement have been prepared by and are thesole responsibility of Norwegian Property. The Managers are actingexclusively for Norwegian Property and no one else and will not beresponsible to anyone other than Norwegian Property for providing theprotections afforded to their respective clients, or for advice inrelation to the private placement and subsequent offering, thecontents of this announcement or any of the matters referred toherein.The distribution of this announcement and other information inconnection with the subsequent offering may be restricted by law incertain jurisdictions. Persons into whose possession thisannouncement or such other information should come are required toinform themselves about and to observe any such restrictions.This announcement may not be used for, or in connection with, anddoes not constitute, any offer to sell, or an invitation to purchase,any securities. The subsequent offering will not be made in anyjurisdiction or in any circumstances in which such offer orsolicitation would be unlawful.This announcement is not an offer to sell or the solicitation of anyoffer to buy any Norwegian Property shares or other securities ofNorwegian Property (the Securities) in the United States, nor shallthere be any sale of the Securities in any state thereof in whichsuch offer, solicitation or sale would be unlawful prior toregistration or qualification under the securities laws of any suchstate. Any public offering of the Company's securities in the UnitedStates will be made only by means of a prospectus that may beobtained from the Company and that will contain detailed informationabout the Company and management, as well as financial statements andother information relevant to investors.The Norwegian Property shares have not been and will not beregistered under the applicable securities laws of Australia, Canadaor Japan and may not be offered or sold within Australia, Canada orJapan.In the United Kingdom, this announcement is directed only at personswho (i) have professional experience in matters relating toinvestments falling within Article 19(5) of the Financial Servicesand Markets Act 2000 (Financial Promotion) Order 2005 (as amended,the Financial Promotion Order), (ii) are persons falling withinArticle 49(2)(a) to (d) (high net worth companies, unincorporatedassociations etc) of the Financial Promotion Order, (iii) are outsidethe United Kingdom, or (iv) are persons to whom an invitation orinducement to engage in investment activity (within the meaning ofsection 21 of the Financial Services and Markets Act 2000) inconnection with the issue or sale of any securities may otherwiselawfully be communicated or caused to be communicated. Thisannouncement is directed only at such persons and must not be actedon or relied on by persons in the United Kingdom who are not suchpersons. Any investment or investment activity to which thisannouncement relates is available in the United Kingdom only to suchpersons and will be engaged in only with such persons and no otherpersons in the United Kingdom should rely or act upon thisannouncement.All investment is subject to risk. The value of the NorwegianProperty shares may go down as well as up. Past performance is noguarantee of future returns. Potential investors are advised to seekexpert financial advice before making any investment decision.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 25.08.2009 - 12:30 Uhr
Sprache: Deutsch
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