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Ex right to receive subscription rights in the Rights Issue today, 10 October 2014

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Oslo, 10 October 2014

Reference is made to the stock exchange announcement made by Diagenic ASA (“Diagenic” or the “Company”) yesterday, 9 October 2014, regarding the Minutes from the Extraordinary General Meeting and the resolved acquisition of New NEL Hydrogen Holding AS (the “Acquisition”), the private placement of NOK 35 million (the “Private Placement”) and the new share issue of NOK 35 million, with preemptive rights for shareholders of the Company (the “Rights Issue”).

The shares in the Company will trade excluding the right to receive subscription rights in the Rights Issue from and including today, 10 October 2014.

The Rights Issue comprises an offering of 53,846,154 offer shares at a subscription price of NOK 0.65, corresponding to gross proceeds of approximately NOK 35 million. The Rights Issue will be directed towards the Company’s shareholders as of close of the Oslo Stock Exchange on 9 October 2014, as registered in the Norwegian Central Security Depository (VPS) on 13 October 2013 (“Record Date”) who are not resident in a jurisdiction where such offering would be unlawful, or for jurisdictions other than Norway, would require any filing, registration or similar action (the “Eligible Shareholders”). The new shares to be issued in connection with the Acquisition and the Private Placement do not entitle the holder to receive subscription rights.

The Eligible Shareholders will receive one (1) subscription right for each 2.00868 shares held at the Record Date, and each subscription right will give the right to subscribe for one new share. The subscription period is from and including 21 October to 4 November at 16:30 CET, subject to approval of the prospectus. The subscription period shall commence on the second trading date following approval of the prospectus and end at 16:30 CET on the 14th day thereafter if the prospectus is not approved in time for the subscription period to commence on 21 October 2014. Oversubscription and subscription without subscription rights is allowed. The subscription rights will be transferable and listed on the Oslo Stock Exchange until there are two trading days left of the subscription period.

The Rights Issue is fully underwritten. The underwriters include the existing shareholders; Strata Marine & Offshore AS, Storebrand, Alfred Berg, Tigerstaden AS, Alpine Capital, AS, Spar Kapital Investor AS, Håkon Sæther, Dallas Asset Management AS, Kristianro AS and AB Investment. Total number of shares outstanding in the Company following registration of the share capital increase related to the Acquisition and the Private Placement will be 285,082,950. The share capital increase related to the 123,076,923 new shares to be issued in connection with the Acquisition and the 53,846,154 new shares to be issued in connection with the Private Placement is expected to be registered with the Norwegian Register of Business Enterprises on or about 15 October 2014. 

For further information, please contact:

Lars Christian Stugaard

Acting CEO

+47 23 01 49 06 / +47 47 63 05 22

Lars.christian.stugaard@diagenic.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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