NPRO - Successful completion of private placement
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES
Norwegian Property ASA ("NPRO" or the "Company") is pleased to announce the
successful completion of a private placement of 45,326,000 shares directed
towards professional Norwegian and international investors after the close of
the Oslo Stock Exchange on 10 March 2010. The substantially oversubscribed
placement was made at a price of NOK 12 per share, and the capital increase
represents approximately 10% of the outstanding shares in the Company. Gross
proceeds from the private placement amount to NOK 543.9 million. The proceeds
will be applied towards strengthen the balance sheet and increase flexibility
in the ongoing process to separate Norwegian Property into two companies, as
announced on 23 February 2010.
The share capital increase was resolved by the Board of Directors within the
authorised share capital of the Company. The share capital is increased by NOK
22,662,500 by the issue of 45,326,000 new shares. Following the completion of
the private placement NPRO's share capital is NOK 249,298,416, divided into
498,596,832 shares with a nominal value of NOK 0.5 per share.
The new shares to be issued in the Private Placement will not be tradable until
the share capital increase has been registered and the new shares have been
delivered against payment to the applicants VPS-account, expected to take place
on or about 19 March 2010.
The issue was managed by the investment banks ABG Sundal Collier Norge ASA and
Pareto Securities AS as joint lead managers and joint bookrunners.
Oslo, 11 March 2010
For further information, please contact:
Norwegian Property ASA
Olav Line
CEO
Tel: +47 48 25 41 49
Email: olav.line(at)norwegianproperty.no
Svein Hov Skjelle
CFO
Tel: +47 930 555 66
Email: svein.hov.skjelle(at)norwegianproperty.no
Elise Heidenreich-Andersen
Director of Investor Relations
Tel: +47 95 14 11 47
Email: eha(at)npro.no
***
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES:
The shares to be offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state
securities laws, and will be offered within the United States only to qualified
institutional buyers ("QIB"), as defined in Rule 144A under the U.S. Securities
Act ("Rule 144A") or an "Accredited Investor" as defined under Rule 501(A) of
the US Securities Act and in reliance upon an exemption from the registration
requirements in the US Securities Act, and to certain non-U.S. persons in
offshore transactions in reliance on Regulation S under the U.S. Securities Act.
Any US investor will be requested to sign and return an investor representation
letter certifying that it is either a QIB or an Accredited Investor. The shares
to be offered will be subject to certain restrictions on transfer. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of the securities in any country in which such
offer, solicitation or sale would be unlawful.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1392821]
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Datum: 11.03.2010 - 02:15 Uhr
Sprache: Deutsch
News-ID 1011220
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