Observe Medical ASA - Registration of share capital increase following completing of debt conversion

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Observe Medical ASA, 1 November 2019: On 1 October 2019, the general meeting of Observe Medical ASA (the "Company) resolved to increase the share capital of the Company with NOK 832,000 by issuance of 3,200,000 new shares to Navamedic ASA, each with a nominal value of NOK 0.26, by way of set-off against a receivable in the total amount of NOK 16,000,000 which Navamedic ASA had against the Company. The completion of the share capital increase was conditional upon completion of the demerger of Navamedic ASA. 

The demerger was completed on 31 October 2019 and the share capital increase has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 3,917,594.98, divided into 15,067,673 shares, each with a nominal value of NOK 0.26.

Updated articles of association for the Company are available on www.observemedical.com. 

For further information, please contact:

Ole Henrik Eriksen, interim CEO 
Mobile: +47 400 62 000
E-mail: ole.henrik.eriksen@navamedic.com

About Observe Medical ASA:
Observe Medical develops and markets innovative hospital products that contribute to increased patient safety and a more efficient care system. The Company's headquarter is in Oslo and its operations are based out of Sweden. Observe Medical's initial product was Sippi®, the only digital urine meter with wireless data transfer to patient data management systems, which also prevents bacterial migration that can lead to urinary infections (Sippcoat®). Sippi® is CE marked and is currently being launched at selected hospitals in the Nordics and Germany.