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Reference is made to the announcement by Vow ASA (OSE ticker VOW) ("Vow" or the "Company"), where it announced the successful completion of a private placement of 8,000,000 shares in the Company (the "Offer Shares") at a price of NOK 46 per Offer Share at the date hereof (the "Private Placement"). The Private Placement comprised an issue of 5,000,000 new shares (the "New Shares") in the Company and the sale of 3,000,000 shares by close associates of primary insiders of the Company (as listed below).
Ingerø Reiten Investment Company AS ("IRIC"), a close associate of the chairman of the Company's board of directors, Narve Reiten, and board member, Bård Brath Ingerø, sold 1,200,000 shares in the Private Placement. Following this transaction, IRIC owns 25,816,822 shares in Vow (which together with IRIC's future/forward agreement, will bring IRICs total shareholding up to 31,145,000 shares). Additionally, IRIC has entered into a share lending agreement with SpareBank 1 Markets AS, on behalf of the managers in the Private Placement, and the Company whereby IRIC will lend 5,000,000 shares in Vow to Sparebank 1 Markets AS (on behalf of the managers in the Private Placement) in order to facilitate delivery of listed shares to the investors who are allocated New Shares in the Private Placement. The borrowed shares will be redelivered to IRIC upon the registration of the share capital increase pertaining to the New Shares in the Norwegian Register of Business Enterprises and issuance of the New Shares in VPS.
Badin Invest Limited, a close associate of the Company's CEO Henrik Badin, sold 600,000 shares in the Private Placement. Following this transaction, Badin Invest Limited owns 9,900,000 shares in Vow.
Daler Inn Limited, a close associate of the Company's CDO Asgeir Wien, sold 600,000 shares in the Private Placement. Following this transaction, Daler Inn Limited owns 10,000,000 shares in Vow.
Exproco Limited, a close associate of the Company's COO Jonny Hansen, sold 600,000 shares in the Private Placement. Following this transaction, Exproco Limited owns 9,960,000 shares in Vow.
Please refer to the attached notifications of trading for further details.
For further information, please contact:
Erik Magelssen - CFO
Tel: + 47 928 88 728
About Vow ASA:
In Vow and our subsidiaries Scanship and Etia we are passionate about preventing pollution. Our world leading solutions convert biomass and waste into valuable resources and generate clean and CO2 neutral energy for a wide range of industries.
Cruise ships on every ocean have Vow technology inside which processes waste and purifies wastewater. Fish farmers are adopting similar solutions, and public utilities and industries use our solutions for sludge processing, waste management and biogas production on land.
Our ambitions go further than this. With our advanced technologies and solutions, we turn waste into biogenetic fuels to help decarbonize industry and convert plastic waste into fuel, clean energy and high-value pyro carbon. Our solutions are scalable, standardized, patented and thoroughly documented, and our capability to deliver is well proven. They are key to end waste and stop pollution.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.