Keliber’s repair issue significantly oversubscribed
On 10 April 2017, Nordic Mining was allocated 31,338 shares in Keliber’s repair issue. In total, 125,000 shares were offered and allocated in the issue which was close to 50% oversubscribed. In addition, approximately 3,500 shares were allocated to members of Keliber’s board of directors. Subsequent of the issues, Nordic Mining’s shareholding in Keliber is approximately 22.1%.
In total 125,000 shares were offered for subscription in Keliber’s repair issue at a price of €40 per share. The repair issue was carried out subsequent of a successful private placement in March. The repair issue shares were offered to shareholders who did not participate in the private placement. The repair issue was close to 50% oversubscribed. On 10 April 2017, Nordic Mining was allocated 31,338 shares in the issue, in accordance with subscription and rights.
Further on 10 April, an incentive share issue for board members in Keliber was completed. In total, approximately 3,500 shares were subscribed and allocated based on an incentive price of €36 per share. Employees in Nordic Mining represented in the Keliber board did not participate in the issue due to corporate governance restrictions.
At a later stage Keliber will carry out an incentive issue for its employees based on an authorisation from the general meeting.
Subsequent of the repair issue and the incentive issue for the board members, the total number of outstanding shares in Keliber is approximately 1,082,000. Nordic Mining’s new shareholding is around 22.1%.
For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 91.
Oslo, 11 April 2017
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with focus on high-end industrial minerals and metals in Norway and internationally. The Company’s project portfolio is of high international standard and holds a significant economic potential. The Company’s assets are in the Nordic region.
Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking a large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Permits for the project have been granted by the Norwegian government. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Hordaland and develops the project through its subsidiary Nordic Quartz AS. Nordic Mining’s associated company Keliber Oy in Finland plans to start mining of lithium bearing spodumene and production of lithium carbonate. Nordic Mining holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where the Company has discovered a prospective area of sulphide mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.