Kongsberg Automotive ASA – Exercise of subscriptions rights in the subsequent offering and participation on the LTI Participant Offering by Primary insiders
Reference is made to the stock exchange announcement published by Kongsberg Automotive ASA (the "Company") on 6 July 2020 regarding commencement of the subscription period in a subsequent offering with gross proceeds of up to NOK 300 million by issuance of up to 3,000,000,000 new shares at a subscription price of NOK 0.10 per share (the "Subsequent Offering").
The following Primary insider has exercised subscription rights giving preferential rights to be allocated offer shares in the Subsequent Offering:
Robert Riedford, Primary insider and President of Powertrain & Chassis has exercised 384,391 subscription rights providing for a right to subscribe and be allocated 384,391 new shares in the Subsequent Offering.
The following Primary insider has subscribed to shares according the company’s Long Term Incentive Participants Offering (“LO”). The shares are subscribed to at NOK 0.10 each. The subscription is made further to authorization granted by resolution by the Annual General Meeting 30 June 2020 to the Board of Directors to increase the share capital to fulfil its obligations according to the company’s Long Term Incentive Program (“LTI”). The subscriptions are subject to subsequent approval by the Board of Directors to increase the share capital by a share issue directed towards the Company’s participants in the LTI.
Dzeki Mackinovski, Primary insider and Executive Vice President Purchasing has subscribed to 8,623,310 in accordance with the LO.
After the above transactions the new shareholdings are as follows:
Robert Riedford, Primary insider and President of Powertrain & Chassis holds 439,115 shares
Dzeki Mackinovski, Primary insider and Executive Vice President Purchasing holds 8,797,110 shares
Kongsberg Automotive ASA
Mobile phone: +47 901 14 582
Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of approx. EUR 1.1 billion and approximately 11.000 employees in 19 countries, Kongsberg Automotive is truly a global supplier. The company has more than 25 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com