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REC Silicon - Key information relating to subsequent offering to be carried out by REC Silicon ASA

REC Silicon ASA
·2-min read

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Lysaker, 14 October 2020 - Reference is made to the stock exchange notice from REC Silicon ASA (the "Company") on 14 October 2020 regarding the successful completion of a private placement of 92,592,592 new shares in the Company (the "Private Placement") and a potential subsequent offering at the same subscription price as in the Private Placement (the "Subsequent Offering").

Date on which the terms and conditions of the potential Subsequent Offering were announced:

14 October 2020

Last day including right:

14 October 2020

Ex-date

15 October 2020

Record Date

16 October 2020

Date of approval

Currently not resolved (see "Other information" below)

Maximum number of new shares:

18,518,518 new shares

Subscription price

NOK 10.80 per share

Other information: The Subsequent Offering is subject to (a) completion of the Private Placement, (b) approval of the authorization of the Board of Directors for the Subsequent Offering by the Company's shareholders at the extraordinary general meeting in the Company, and (c) the publication of a prospectus approved by the Norwegian Financial Supervisory Authority. The board of directors may, in its sole discretion, decide that the Company shall not carry out the Subsequent Offering.

For further information, please contact:

James A. May II, Chief Financial Officer
Phone: +1 509 989 1023
Email: james.may@recsilicon.com

Nils O. Kjerstad, IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no

About REC Silicon:
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, and annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the company is headquartered in Lysaker, Norway.

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