DiaGenic - Raises NOK 30 million in a private placement


Oslo, 8 Mars 2013

Reference is made to the stock exchange notice published by DiaGenic ASA (“DiaGenic” or the “Company”) dated 7 March 2013 regarding the contemplated private placement.

The Company announces that it has raised NOK 30 million in gross proceeds through a private placement of 50,000,000 new shares at a price of NOK 0.60 per share (the "Private Placement"). The Private Placement was carried out through a bookbuilding process and was managed by DNB Markets as bookrunner (the “Bookrunner”).

The net proceeds to the Company from the Private Placement will be used to finance operating costs and secures the necessary funding to achieve key near term product development milestones. Priorities include validation and CE marking of MCItect® and ADtect®, read-out of the AMYtectTM study in collaboration with GE Healthcare, and an initial meeting with the Food and Drug Administration (FDA) which forms part of the process towards regulatory clearance in the US. In parallel, the Company is and will continue to evaluate opportunities to achieve commercially meaningful partnerships for its products following CE marking and study readout respectively, as well as considering a trade sale at a valuation attractive to its shareholders.

The completion of the Private Placement is conditional upon (i) approval by an Extraordinary General Meeting of the Company to be held on 2 April 2013 (the "EGM"), and (ii) registration of the increased share capital of the Company pursuant to the Private Placement in the Norwegian Register of Business Enterprises.

Notification of allotment and payment instructions for the Private Placement will be sent to the applicants on or about 8 March 2013 through notifications to be issued by the Bookrunner. The payment date for the allocated shares is expected to be on or about 3 April 2013. The shares to be issued are expected to be delivered to investors and be tradable on Oslo Børs on or about 8 April 2013. In the event that the prospectus for listing of the new shares in the Private Placement is not approved by the Financial Supervisory Authority of Norway and published upon issuance of the new shares, the new shares will be assigned a separate securities number (ISIN) and, pending approval and publication of such prospectus, not be listed or tradable on Oslo Børs. The prospectus is expected to be published as soon as it is approved by the Financial Supervisory Authority of Norway.

Subject to completion of the Private Placement and the registration of the share capital increase pertaining thereto with the Norwegian Register of Business Enterprises, the Company will have an issued share capital of NOK 38,511,826 divided into 77,023,652 shares, each with a nominal value of NOK 0.50.

The Board of Directors further proposes to carry out a subsequent offering with gross proceeds of up to NOK 7 million by issuing up to 11,666,666 new shares (the "Subsequent Offering"). The subscription price in the Subsequent Offering will be the same as in the Private Placement. The Company’s shareholders as at 7 March 2013 (as registered in the shareholder register in VPS as at 12 March 2013), except for the shareholders that were allocated shares in the Private Placement, will receive transferable subscription rights based on their shareholdings as at that date. Shareholders who are resident in a jurisdiction where such offering of shares would be unlawful or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action, will not be allowed to participate in the Subsequent Offering. Oversubscription will be allowed. Subscription without subscription rights will not be permitted. The commencement of the Subsequent Offering is conditional upon (i) approval by the EGM, and (ii) a prospectus being prepared in accordance with the Norwegian Securities Trading Act and approved by the Financial Supervisory Authority of Norway. The subscription period for the Subsequent Offering will commence shortly after the approval of the prospectus.

The DiaGenic share will be traded on Oslo Børs excluding the right to participate in the Subsequent Offering from and including 8 March 2013.

For further information, please contact:

Paul de Potocki, CEO, DiaGenic ASA, Phone +47 2324 8967

Ruben Ekbråten, CFO, DiaGenic ASA, Phone +47 23 24 89 53

Important Notice

The contents of this announcement have been prepared by, and are the sole responsibility of, the Company. The Company's manager is acting exclusively for the Company and no one else, and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the Private Placement, the Subsequent Offering, the contents of this announcement or any of the matters referred to herein. The Private Placement, the Subsequent Offering and the distribution of this announcement and other information in connection with the Private Placement and the Subsequent Offering may be restricted by law in certain jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about, and to observe, any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other jurisdiction.

The Private Placement and the Subsequent Offering will not be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful. This announcement is not for distribution, directly or indirectly in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose. No steps have been taken or will be taken relating to the Private Placement or the Subsequent Offering in any jurisdiction outside of Norway in which such steps would be required. Neither the publication and/or delivery of this announcement shall under any circumstances imply that there has been no change in the affairs of the Company or that the information contained herein is correct as of any date subsequent to the earlier of the date hereof and any earlier specified date with respect to such information.

This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The shares of the Company, including the shares to be issued in the Private Placement and the Subsequent Offering, have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to, or for the account of, U.S. persons (as such term is defined in Regulation S under the US Securities Act), except pursuant to an effective registration statement under, or an exemption from the registration requirements of, the US Securities Act. All offers and sales outside the United States will be made in reliance on Regulation S under the US Securities Act. There will be no public offer of securities in the United States.

This announcement does not constitute an offering circular or prospectus in connection with an offering of securities of the Company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in relevant offering documentation to be distributed and made available by the Company only to qualified persons in certain jurisdictions where an offer may be made (if an offer is made). This announcement does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied on for any investment contract or decision.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About DiaGenic ASA

DiaGenic is an innovative Norwegian diagnostic company that seeks to create value for patients, partners and investors by developing innovative and patient friendly in vitro diagnostic (IVD) products for early detection of diseases. The company’s proprietary concept implies that a disease evokes systemic responses in the blood unique for the disease, and which can be measured by using a blood sample. DiaGenic is a world leader in identifying gene expression signatures in blood and is focused on the development of IVD biomarker products in the field of Alzheimer’s disease. The company protects its technology through an extensive patent portfolio. DiaGenic is listed on the Oslo Stock Exchange. For more information please visit: www.diagenic.com

About Us

NEL ASA is a leading global supplier of hydrogen technology for industrial / energy purposes, and has made over 500 deliveries in more than 50 countries. The company's main products are hydrogen production plants based on water electrolysis, complete hydrogen stations for transport and renewable energy storage solutions. The company has its roots from the hydrogen activities of Norsk Hydro, which dates back to 1927. The company also has a number of patents related to tests for early detection and diagnosis of diseases.