Reference is made to the stock exchange notice published on 2 September 2019 regarding a repair issue with gross proceeds of up to NOK 6 million directed towards eligible shareholders (the "Repair Issue"). The Repair Issue consisted of an offer of minimum 1 and maximum 1,500,000 new shares (each an "Offer Share") in Hofseth Biocare ASA (the "Company" or "HBC"). The subscription period for the Repair Issue ended on 16 September 2019 at 16.30 hours (CEST). The subscription price in the Repair Issue was NOK 4 per Offer Share.
At the end of the subscription period, the Company has received subscriptions for a total of 3,947,522 Offer Shares out of total 1,500,000 Offer Shares available.
The Board of Directors of HBC has approved the final allocation of Offer Shares based on the allocation criteria resolved by the Company`s general meeting on 30 August 2019 and has allocated 1,500,000 Offer Shares to the subscribers.
The Subsequent Offering raised gross proceeds of approx. NOK 6,000,000.
Payment for the Offer Shares allocated to the subscribers falls due on 23 September 2019. Letters of allocation giving notification of allocated Offer Shares and the corresponding amount to be paid will be distributed to the subscribers later today.
For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no
About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.
Hofseth BioCare's headquarters are located in Ålesund, Norway with branches in Oslo, Chicago, Palo Alto, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act