Management and the Board of Directors applies for shares in Kid ASA
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Management and the Board of Directors applies for shares in Kid ASA
On the first day of the application period for the employee offering of Kid, the following insiders, including members of management and the Board of Directors of Kid, has applied for shares as part of the ongoing initial public offering and listing of Kid:.
- Kjersti Hobøl (CEO) has applied for shares for a total amount of NOK 1,999,999
- Petter Schouw-Hansen (CFO) has applied for shares for a total amount of NOK 1,000,000
- Eva-Lena Wechselberger (Head of store operations) has applied for shares for a total amount of NOK 200,000
- Henrik Schüssler (Chairman of the Board) has applied for shares for a total amount of NOK 1,000,000
- Pål F. Clausen (Board member) has applied for shares for a total amount of NOK 250,000
- Karin Bing Orgland (Board member) has applied for shares for a total amount of NOK 500,000
- Vilde Falck-Ytter (Board member) has applied for shares for a total amount of NOK 200,000
- Rune Marsdal (CFO in Gjelsten Holding, the Selling Shareholder, and former board member in Kid) has applied for shares for a total amount of NOK 300,000
All board members and management applicants in the employee offering will receive full allocation for their applications. All board members and members of management will have a 12 month lock-up for their allocated shares.The applications have been made according to the terms and conditions for the offering described in the prospectus dated 16 October 2015 prepared in connection with the offering.
The Prospectus is, subject to regulatory restrictions in certain jurisdictions, available at www.abgsc.com and www.arcticsec.no. Hard copies of the Prospectus may be obtained free of charge at the offices of ABG Sundal Collier, Munkedamsveien 45E, 0250 Oslo or Arctic Securities, Haakon VIIs gate 5, 0161 Oslo.
For further enquiries, please contact:
Petter Schouw-Hansen, CFO
+47 482 24 534
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company.Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. Any sale in the United States of the securities mentioned in this announcement will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act. Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in a prospectus. In any EEA Member State that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive. This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in public sector investment levels, changes in the general economic, political and market conditions in the Norwegian market, the Company's ability to attract, retain and motivate qualified personnel, changes in the Company's ability to engage in commercially acceptable acquisitions and strategic investments, and changes in laws and regulation and the potential impact of legal proceedings and actions. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this presentation are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or any obligation to update or revise he statements in this presentation to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this document. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.