Reference is made to the stock exchange notice on 28 February 2013 regarding the contemplated private placement by Hofseth BioCare ASA ("Hofseth BioCare" or the "Company", ticker "HBC"). The Company hereby announces that it has raised NOK 45.2 million in gross proceeds through a private placement of 12,923,496 new shares, each with a par value of NOK 1.00, at a subscription price of NOK 3.50 per share (the "Private Placement"). The shares to be issued upon the completion of the Private Placement will represent approximately 22.5 % of the current outstanding share capital of the Company
Notification of allotments and payment instructions for shares to be issued upon the completion of the Private Placement will be sent to the applicants on or about 1 March 2013 through a notification to be issued by the Managers.
The completion of the Private Placement is conditional upon the following being satisfied:
· all necessary corporate resolutions being validly made, including without limitation approval by an extraordinary general meeting of the Company expected to be held on 21 March 2013 (the "EGM");
· payment being received for the shares to be issued in the Private Placement;
· registration of the share capital increase in the Company pursuant to the Private Placement in the Norwegian Register of Business Enterprises;
· the repayment date for all outstanding shareholder loans is formalized to 1 May 2014;
More than 67% of the Company's shareholders have undertaken to vote in favour of the Private Placement in the EGM.
The new shares issued in the Private Placement is expected to be listed on or about 2 April 2013, subject to a listing prospectus being approved by the Financial Supervisory Authority of Norway.
Swedbank First Securities and Norne Securities AS acted as Managers in the Private Placement.
For further information, please contact:
Mr. Sjur Jenssen, CEO Hofseth BioCare, Mobile: +47 91553514
Mr. Øystein Omvik, CFO Hofseth BioCare, Mobile: +47 93699400
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act