HIDDN – Result of Subsequent Offering
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
Reference is made to the stock exchange announcement from Hiddn Solutions ASA (the "Company") on 11 September 2019 regarding commencement of a subsequent offering in the Company of up to 2,850,000 new shares (the "Offer Shares"), each with a nominal value and subscription price of NOK 1 (the "Subsequent Offering"). The Subsequent Offering is made following a private placement in the Company of NOK 8,550,000 (the "Private Placement").
The subscription period in the Subsequent Offering ended today 25 September 2019 at 16:30 hours (CEST). By the end of the subscription period, the Company had received valid subscriptions for 1,748,027 Offer Shares.
Thus, all subscribers have been allocated a number of Offer Shares in accordance with their subscription.
Notification of allocated Offer Shares and the corresponding subscription amount will be distributed to each allocated subscriber on or about 26 September 2019.
Subject to timely payment on the payment date 4 October 2019, the Offer Shares will be issued and delivered on or about 7 October 2019. Issuance and delivery of the Offer Shares is conditioned upon the Company publishing an EEA prospectus approved by the Financial Supervisory Authority of Norway regarding the shares in the Private Placement (and not the Offer Shares in the Subsequent Offering), currently scheduled to be approved and published on or about 4 October 2019. No prospectus has or will be published in connection with the Subsequent Offering and the Offer Shares.
Following registration of the result of the Subsequent Offering with the Norwegian Register of Business, the Company's new share capital will be NOK 14,424,703 divided on 14,424,703 shares, each with a nominal value of NOK 1.
The following primary insiders have been allocated shares in the Subsequent Offering:
Jørgen Waaler, CEO, have been allocated 100,000 Offer Shares. After this, Jørgen Waaler holds 100,000 shares in the Company.
For further information, please contact:
Jørgen Waaler (CEO), telephone: +47 905 90 010 /e-mail: email@example.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.