Hexagon Composites announces proposed private placement of new shares and strategic cooperation agreement with Mitsui & Co., Ltd.
Hexagon Composites ASA ("Hexagon Composites" or the "Company") and Mitsui & Co., Ltd. ("Mitsui") have on 27 February 2016 entered into an investment agreement (the "Investment Agreement") pursuant to which Mitsui on certain terms and conditions undertakes to subscribe for 33,333,000 new ordinary shares (the "New Shares") of the Company at a price of NOK 20.00 per new share (the "Subscription Price"). The Subscription Price represents a premium of 3.0% over the volume weighted average share price for the three month period ended on 26 February 2016, and a premium of 2.6% over the closing