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Saga Pure Asa: Result of the Subsequent Offerings

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Saga Pure ASA
·3 min read
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Oslo, 28 January 2021

Reference is made to the stock exchange notice from Saga Pure ASA ("Saga Pure" or the "Company") published on 12 January 2021 regarding commencement of the subscription period in the following subsequent offerings:

  • A subsequent offering with gross proceeds of up to NOK 8.4 million (the "Subsequent Offering I"), consisting of an offer of minimum 1 and maximum 4,000,000 new shares (each an "Offer Share I") in the Company to eligible shareholders, each Offer Share I at a subscription price of NOK 2.10;

  • A subsequent offering with gross proceeds of up to NOK 14.21 million (the "Subsequent Offering II"), consisting of an offer of minimum 1 and maximum 4,900,000 new shares (each an "Offer Share II") in the Company to eligible shareholders, each Offer Share II at a subscription price of NOK 2.90; and

  • A subsequent offering with gross proceeds of up to NOK 19.68 million (the "Subsequent Offering III", and together with the Subsequent Offering I and Subsequent Offering II, the "Subsequent Offerings"), consisting of an offer of minimum 1 and maximum 4,800,000 new shares (each an "Offer Share III", and together with the Offer Shares I and the Offer Shares II, the "Offer Shares") in the Company to eligible shareholders, each Offer Share III at a subscription price of NOK 4.10;

The subscription period for the Subsequent Offerings ended on 27 January 2021 at 16.30 hours (CET), and the Company's Board of Directors has now approved the final allocation of the Offer Shares in the Subsequent Offerings in accordance with the allocation criteria for each Subsequent Offering. Further information about the results of each Subsequent Offering is set out below.

  • In the Subsequent Offering I, a total of 55,777,701 Offer Shares I were subscribed for out of 4,000,000 Offer Shares I available, implying an oversubscription of 51,777,701 Offer Shares I. The Board has allocated 4,000,000 Offer Shares I to the subscribers in the Subsequent Offering I. The Subsequent Offering I consequently raised gross proceeds of NOK 8.4 million.

  • In the Subsequent Offering II, a total of 35,299,440 Offer Shares II were subscribed for out of 4,900,000 Offer Shares II available, implying an oversubscription of 30,399,440 Offer Shares II. The Board has allocated 4,900,000 Offer Shares II to the subscribers in the Subsequent Offering II. The Subsequent Offering II consequently raised gross proceeds of NOK 14.21 million.

  • In the Subsequent Offering III, a total of 828,592 Offer Shares III were subscribed for out of 4,800,000 Offer Shares III available. The Board has allocated 828,592 Offer Shares III to the subscribers in the Subsequent Offering III. The Subsequent Offering III consequently raised gross proceeds of approximately NOK 3.4 million.

Notifications of allocation in the Subsequent Offerings are expected to be issued on 28 January 2021. The due date for payment of allocated Offer Shares is on 2 February 2021. Delivery of the Offer Shares is expected to take place on or about 5 February 2021, through the facilities of the VPS. Trading in the Offer Shares on Euronext Expand is expected to commence on or about 5 February 2021.

Fearnley Securities AS acts as manager for the Subsequent Offerings. Advokatfirmaet CLP DA acts as Norwegian legal counsel to the Company in connection with the Subsequent Offerings.

For other questions, please contact:
Bjørn Simonsen, CEO, +47 97 17 98 21
Espen Lundaas, CFO, +47 92 43 14 17

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