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Key information relating to the preferential rights issue to be carried out by poLight ASA

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN CANADA,
JAPAN, AUSTRALIA, HONG KONG OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN
WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN

Reference is made to the stock exchange announcement published poLight ASA (the "Company" or "poLight") on 22 March 2024 regarding the contemplated partly underwritten rights issue in the Company, to raise gross proceeds of up to NOK 160 million (the "Rights Issue"). Key information relating to the Rights Issue is set out below.

  • Date on which the terms and conditions of the Rights Issue were announced: 22 March 2024
  • Last day including right: 18 April 2024
  • Ex-date: 19 April 2024
  • Record Date: 22 April 2024
  • Date of approval: 18 April 2024
  • Maximum number of new shares: Will be determined and announced after market close on 18 April 2024, see "other information" below
  • Subscription price: Will be determined and announced after market close on 18 April 2024, see "other information" below
  • Ratio preferential rights: To be announced when final number of new shares is determined
  • Subscription ratio: To be announced when final number of new shares is determined
  • Manager: Pareto Securities AS
  • Will the rights be listed: Yes
  • ISIN for the preferential rights: To be announced when clarified
  • Other information: The Rights Issue is partly underwritten, with an underwriting amount of NOK 130 million.  An overview of the underwriters is available on poLight’s website together with the notice of the Extraordinary General Meeting. In accordance with the underwriting agreement, the subscription price in the Rights Issue is proposed by the board to be the theoretical ex rights price (TERP) based on the volume-weighted average price (VWAP) of the Company's shares on Oslo Børs on the date of the extraordinary general meeting (the "EGM"), less a discount of at least 30%. The final discount and the subscription price for the new shares to be issued in the Rights Issue, and, thus, the number of new shares and the amount of the share capital increase in the Rights Issue, will be announced through a stock exchange announcement as soon as possible after market close on 18 April 2024 and be reflected in the final proposed resolution to the EGM. Please refer the notice for the EGM for further information, published by the Company on 22 March 2024

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98
 

About poLight ASA

poLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics technology, leveraging its proprietary polymer and piezo MEMS technology. Founded in 2005, its first product TLens® replicates "the human eye" experience in autofocus cameras used in applications such as AR/MR devices, smartphones, wearables, webcams and other consumer devices, industrial barcode scanners and machine vision systems, and healthcare applications. With over 160 granted patents, poLight's technology delivers extremely fast focus, small footprint, ultra-low power consumption, no magnetic interference, and constant field of view, enabling better imaging system performance and new user experiences compared to alternative technologies.  poLight is based in Horten, Norway, with employees in Finland, France, UK, US, China, Taiwan, and the Philippines. For more information, please visit https://www.polight.com.

This information is published in accordance with the requirements of the Continuing Obligations.

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