Cxense ASA: Cancellation of subsequent repair offering
References is made to the stock exchange notice from Cxense ASA (the "Company") on 24 August 2017 and earlier today, 18 September 2017, regarding a consummated private placement and a possible subsequent repair offering in the Company. As stated in the said stock exchange notice, the Company's board of directors would make further considerations as to whether a subsequent repair offering should be carried out based on the market development.
Since the announcement of the private placement and during a period of two weeks, the Company's shares traded consistently below the subscription price in the private placement of NOK 40. Consequently, existing shareholders wishing to avoid or reduce the dilutive effect of the private placement have had the opportunity to purchase shares in the open market during an extended period in time, at prices below the subscription price of the private placement. Hence, the board of directors in the Company today decided not to use the board authorization granted by the Company’s extraordinary general meeting today to carry out a subsequent repair offering.
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Mobile: +47 906 60 062
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.