Hiddn Solutions ASA Rights Issue - Preliminary result
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Reference is made to previous stock exchange announcements concerning the rights issue of up to 20,761,245 new shares (the "Offer Shares") in Hiddn Solutions ASA (the "Company") (the "Rights Issue") and up to 5,190,311, additional Offer Shares in case the Rights Issue is fully subscribed pursuant to subscription rights, at a subscription price of NOK 2.89 per Offer Share.
The subscription period for the Rights Issue expired 10 February 2017 at 16:30 (CET). A preliminary counting of the subscriptions indicates that approximately 30.5 million Offer Shares have been subscribed for and, consequently, that the Rights Issue was oversubscribed. Accordingly, the board may use the authorization granted by the Company's extraordinary general meeting on 13 January 2017 to issue additional Offer Shares to the Company's employees, management and board as well as the underwriters in the Rights Issue that have subscribed for shares in the Rights Issue. Allocation of Offer Shares is expected to be resolved later today by the board in the Company in accordance with the allocation criteria set out in the prospectus dated 26 January 2017. Letters of allocation will be distributed to investors giving notification of allocated Offer Shares and the corresponding amount to be paid by each subscriber.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is not and does not form a part of any offer for sale of any securities, and is not for release, publication or distribution, directly or indirectly, in the United States, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. Hiddn Solutions ASA does not intend to register its securities in the United States. The distribution of this announcement into jurisdictions other than Norway may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement has not been approved by any regulatory authority.