Stocklisting on October 25, 2013
All existing shareholders in REC as of September 23, 2013 had the opportunity to participate in the offering and listing of 40 million shares in REC Solar ASA.
- All shareholders in REC as per end of trading on September 23, 2013 (as registered in the VPS on September 26, 2013) has received non-tradable subscription rights proportional to their shareholding in REC.
- The shareholders are granted one subscription right for every 58 REC shares held in REC on September 23, 2013.
- The subscription price in the offering is NOK 20 per share which corresponds to a market capitalisation of REC Solar ASA of NOK 800 million.
- The subscription period starts on October 4 and ends on October 18 at 16:30 CET.
- The listing of REC Solar ASA (ticker: RECSOL) is expected on or about October 25.
The payment for allocated shares will be made via the bank account specified by the subscriber in the subscription form or the online subscription system and the payment date is October 23, 2013. For more information concerning terms and conditions in regards to the offering, see section five of the Prospectus available in the right hand column.
Subscription rights that are not used to subscribe for shares in the REC Solar ASA offering before the expiry of the subscription period will lapse without compensation and consequently be of no value. Subscription rights may not be transferred or traded.
All subscriptions for offer shares are irrevocable. You are strongly encouraged to read the Prospectus carefully before deciding if you would like to subscribe in the offering.
Any questions or requests for assistance concerning the offering should be directed to REC’s sole financial advisor Arctic Securities.
The offering of 100 percent of the shares in REC Solar ASA has been underwritten by the largest shareholders of REC, valuing the equity of REC Solar ASA at NOK 800 million. For more information about the split and the separate listing of REC Solar ASA, view the investor presentation, the press releases and the questions and answers section available via the links in the right hand column.