Desert Control AS – Share capital increase registered
ISSUER
DESERT CONTROL AS
Sandnes, Norway, 6 August 2021: Reference is made to the stock exchange release
by Desert Control ASA ("Desert Control" or the "Company") published on 5 July
2021 regarding purchase of 63,000 shares by the Company's Chief Technology
Officer.
The purchase of shares was carried out as part of the Company's employee
incentive program and was facilitated by the board of directors of the Company's
resolution on 5 July 2021 to increase the share capital, pursuant to the
authorisation granted by the Company's extraordinary general meeting on 6 April
2021. The board of directors decided to increase the share capital by a total of
NOK 294 by issuing 98,000 shares, each with a par value of NOK 0.003.
The issuance of 98,000 new shares has been registered with the Norwegian
Register of Business Enterprises. Following registration, the share capital of
Desert Control is NOK 122,173.92 divided into 40,724,639 shares, each share
having a par value of NOK 0.003 and carrying one vote in the Company's general
meeting.
For further information, please contact:
Erling Rasmussen, Chief Financial Officer,
+ 47 482 11 151,
erling.rasmussen@desertcontrol.com
About Desert Control AS
Agriculture and food production consume more than 70% of all available
freshwater. When topsoil degrades, water consumption increases further as it
permeates through sandy soils like a sieve. Simultaneously, population growth
drives the need for more food over the next 40 years than was produced in the
last 500 years, putting even more pressure on scarce resources such as water.
This is the problem Desert Control is determined to solve. There are tremendous
growth opportunities in a market that is growing rapidly. Annually, 12 million
hectares of fertile land perish to desertification. Desert Control is a climate
technology company specialized in reclaiming degraded soil and turning desert
sand into fertile soil. The patented product LNC (Liquid Natural Clay) is a
liquid clay compound that enables sand and degraded soil to retain water and
nutrients. LNC thus increases crop yields, while consumption of water and
fertilizer decreases by up to 50%.
This information is subject to the disclosure requirements pursuant to the
Euronext Growth Oslo Rule Book II.